OJK Prepares Rp15,000/US$ Scenario

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  • TEMPO.CO, Jakarta - The Financial Services Authority (OJK) is preparing a stress test for the sharia banking industry using a scenario of a currency exchange rate of Rp15,000 per US dollar.

    OJK deputy commissioner Mulya Siregar said that the industry proved able to withstand a stress test of Rp14,000, supported by strong capital, Bisnis Indonesia reported. In addition, sharia banks have little exposure to forex, including for financing.

    Based on OJK's sharia banking statistics (SPS) data, sharia banks as of May 2015 had a CAR of 14.29 percent and had disbursed a total of Rp203.89 trillion.

    Mulya said that the sharia banking sector is closely related to the real sector. If the real sector comes under pressure due to the economic slowdown, sharia banks are likely to experience a direct impact.

    However, with the support of government spending and the OJK's stimulus, Mulya is confident that sharia banks can post a financing growth of 12 to 13 percent until the end of this year.