OJK Responds to Prabowo's Plan to Cut People's Business Credit Interest Rates

TEMPO.CO, Jakarta - Chairperson of the Financial Services Authority (OJK) Board of Commissioners, Friderica Widyasari, supports Indonesian President Prabowo Subianto's plan to cut the maximum interest rate for people's business credit to 5 percent per year. "Of course, this is very good to support our society in obtaining these facilities," she said at the Indonesia Stock Exchange on Monday, May 11, 2026.

The desire to cut the interest rate for people's business credit (KUR) was expressed by the Head of State during a speech at the Labor Day celebration at the National Monument, Central Jakarta, on Friday, May 1, 2026. At that time, Prabowo mentioned the burden of loan interest on the lower class society.

According to the Head of State, there are still citizens bearing interest rates of up to 70 percent per year. Therefore, Prabowo instructed state-owned banks to lower the KUR interest rates. "Soon we will disburse credits for people, maximum 5 percent per year."

In response to the plan, OJK Chairperson Friderica believes that the reduction of KUR interest rates is in line with the Financial Information Service System (SLIK) set by their institution. SLIK is an information system that reports and displays credits or financing with amounts exceeding Rp1 million, based on the ceiling or outstanding balance of each debtor.

During the same occasion, Friderica also encouraged the distribution of KUR not to be limited to banking, but also state-owned companies. "There are probably other state-owned enterprises that are also good in distributing credits to the society. For example, there are some names we are surely familiar with, and they can also be encouraged to become KUR distributors," she said.

Riri Rahayuningsih contributed to the writing of this article.

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