Wednesday, 20 November 2019

OJK Urges Banks to Disburse SME Loan

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  • Financial Services Authority (OJK) chairman Wimboh Santoso. TEMPO/Ilham Fikri

    Financial Services Authority (OJK) chairman Wimboh Santoso. TEMPO/Ilham Fikri

    TEMPO.CO, Jakarta - The Financial Services Authority aims to push credit growth in the micro-small-medium enterprises (MSME) sector. OJK chief Wimboh Santoso said banks have to provide people’s business credits (KUR) for SMEs, with low interest rates.

    "Banks have the of people's business credit (KUR) scheme that has very low interest," he said when inaugurating OJK’s branch in North Sulawesi yesterday.

    Read: OJK Calls on Foreign Banks to Provide SMEs with Trade Financing

    Wimboh said the OJK will facilitate SMEs with huge potentials, such as those in the fishery sector, with large number of fishermen and fish production. Other sectors include plantations of coconuts, nutmegs, cloves, and other crops which North Sulawesi is abundant with.

    "If the sectors flourish, welfare will not be experienced by only North Sulawesi people living in the city, but also those residing in remote villages," Wimboh said as quoted by Antara yesterday.

    Some time ago, the Coordinating Ministry for Economic Affairs issued 12 new provisions to accelerate the distribution of KUR. These provisions are set forth in the Coordinating Minister for Economic Affairs’ Regulation (Permenko) No.11/2017 on the Guidelines for KUR Implementation.

    FAJAR PEBRIANTO