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Kamis, Februari 2, 2023

DPD Urges Guarantee Agencies to Further Strengthen Their Operations in Readiness for the Forthcoming Amendment to the Guarantees Law

General Corporate General Financial Service

The Vice-Chairman of the Regional Representatives Council (Dewan Perwakilan Daerah – "DPD"), Sultan B. Najamudin, has raised concerns over guarantee agencies ("Agencies"), as addressed under Law No. 1 of 2016 on Guarantees ("Law 1/2016"), that have yet to become fully established. Mr. Najamudin has raised said concerns in relation to several issues, including: 1) Laws and regulations that apply within the banking sector are primarily profit-oriented in nature; 2) Placements of loan guarantors are frequently seen as burdening Small- and Medium-Scale Enterprises ("MSE"); 3) Rates of MSE financing have only reached 20% (whereas they should ideally be around 50%); and 4) MSE actors have complained that they are not receiving adequate loans from banks, particularly through Business Credit (Kredit Usaha Rakyat/KUR) programs.
In light of the above issues, Mr. Najamudin has affirmed that the DPD has recommended the revision of the current legal framework on guarantees, at least until the Agency can be developed in line with current technological developments within the financial services sector. Furthermore, Mr. Najamudin has expressed his hope that Agencies will be able to improve access within the business sector, particularly access to sources of financing for MSE.
Previously, the chairman of the Regional Development Bank Association (Asosiasi Bank Pembangunan Daerah/ASBANDA), Wimrah Ismaun, proposed that Committee IV at the DPD should immediately invite the Financial Services Authority (Otoritas Jasa Keuangan/OJK) and insurance stakeholders to resolve the aforementioned issues relating to guarantees. In this regard, Mr. Ismaun has confirmed that the implementation of Law 1/2016 has met with a number of difficulties that are having an impact on the performances of regional banks.
For more on this story, see Hukumonline: “Mendorong Penguatan Pengaturan Lembaga Penjamin dalam Revisi UU Penjaminan”.

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The Vice-Chairman of the Regional Representatives Council (Dewan Perwakilan Daerah – "DPD"), Sultan B. Najamudin, has raised concerns over guarantee agencies ("Agencies"), as addressed under Law No. 1 of 2016 on Guarantees ("Law 1/2016"), that have yet to become fully established. Mr. Najamudin has raised said concerns in relation to several issues, including: 1) Laws and regulations that apply within the banking sector are primarily profit-oriented in nature; 2) Placements of loan guarantors are frequently seen as burdening Small- and Medium-Scale Enterprises ("MSE"); 3) Rates of MSE financing have only reached 20% (whereas they should ideally be around 50%); and 4) MSE actors have complained that they are not receiving adequate loans from banks, particularly through Business Credit (Kredit Usaha Rakyat/KUR) programs.
In light of the above issues, Mr. Najamudin has affirmed that the DPD has recommended the revision of the current legal framework on guarantees, at least until the Agency can be developed in line with current technological developments within the financial services sector. Furthermore, Mr. Najamudin has expressed his hope that Agencies will be able to improve access within the business sector, particularly access to sources of financing for MSE.
Previously, the chairman of the Regional Development Bank Association (Asosiasi Bank Pembangunan Daerah/ASBANDA), Wimrah Ismaun, proposed that Committee IV at the DPD should immediately invite the Financial Services Authority (Otoritas Jasa Keuangan/OJK) and insurance stakeholders to resolve the aforementioned issues relating to guarantees. In this regard, Mr. Ismaun has confirmed that the implementation of Law 1/2016 has met with a number of difficulties that are having an impact on the performances of regional banks.
For more on this story, see Hukumonline: “Mendorong Penguatan Pengaturan Lembaga Penjamin dalam Revisi UU Penjaminan”.

......

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Precedent Hukumonline
Virtual Discussion

PROFESSIONAL

Rp 4.500.000

per bulan

Semua Fitur Paket Standard
Terjemahan Peraturan
Peraturan Konsolidasi
Premium Stories
Monthly Law Review (MLR)
Indonesian Law Digest (ILD)

STANDARD

Rp 2.500.000

per bulan

Indonesian Legal Brief (ILB)
Daily Updates
Bantuan Layanan Pencarian Peraturan
Pusat Data Peraturan dan Putusan Pengadilan Non-Precedent

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