OJK Incentivizes Financial Services to Boost Electric Vehicle Industry

TEMPO.CO, Jakarta - The Financial Services Authority (OJK) in a written statement on Wednesday asserted that it fully supports the government’s program in accelerating the battery-based electric vehicles (KBLBB) industry by distributing multiple forms of incentives.

"We have issued incentives in the banking, capital market, and non-bank financial industry (IKNB) sectors to increase the role of the financial services industry in supporting the electric vehicle program," said OJK Public Relations Director Darmansyah in a written statement, November 30.

In the field of banking, the OJK provides incentives by relaxing the calculation of Risk Weighted Assets (RWA) by reducing the credit risk weight (ATMR) from 75 percent to 50 percent for electric vehicle production and consumption until December 31, 2023.

There will also be the provision of funds to debtors with the aim of purchasing electric vehicles and/or developing the upstream KBLBB industry—the battery industry, the charging station industry, and the component industry.

In the capital market sector, OJK provides a discount on green bond registration statement fees including battery-based electric vehicles funding to 25 percent of the original levy. 

The Indonesia Stock Exchange (IDX) also responded to this by providing a discount on the green bond's annual listing fee rate of 50 percent of the listing fee rate. OJK also provides incentives and initiatives for finance companies by channeling funds to customers in the context of production and consumption. 

RIRI RAHAYU

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