OJK supports programs on interest subsidies for economic recovery

OJK supports programs on interest subsidies for economic recovery

The Financial Services Authority (OJK)

Jakarta (ANTARA) - Financial Services Authority (OJK) supports implementing government programs on interest subsidies for economic recovery by providing data and information on banking debtors and finance companies eligible for interest subsidies and joint socialization by finance ministry.

"The data and information of debtors prepared by the OJK include SLIK (Credit Information Service System) data that matches the criteria for the interest subsidy that can be used by the Ministry of Finance through the SIKP (Credit Information System Program), including to validate tax numbers (NPWP) and personal identity numbers (NIK) as well as to fulfill other requirements," OJK Deputy Commissioner for Public Relations and Logistics Anto Prabowo noted in a statement here on Wednesday.

Provision of data and information on banking debtors and finance companies was OJK’s role as stipulated in Finance Minister’s Regulation No. 65/PMK.05/2020 on Procedures for the Granting of Interest Subsidies and agreed in the Ministry of Finance and OJK Joint Decree on coordination for the placement of funds and provision of interest subsidies in the context of national economic recovery.

In accordance with the role outlined in Finance Minister’s Regulation No. 65, the OJK has communicated with and disseminated data to the banking industry and finance companies over the implementation of this interest subsidy program.

On Tuesday (June 23), the OJK also held a virtual outreach to cover some one thousand participants from banks and finance companies and several associations in the financial services industry.

On this occasion, Prabowo highlighted OJK’s readiness to support this program by utilizing the SLIK data and information.

"This interest subsidy is a government program that must be implemented, so that its impacts can be immediately felt by the community," Prabowo remarked.

On the occasion, the OJK urged commercial banks and finance companies to inform their debtors and confirm their eligibility and procedures as debtors eligible to receive interest subsidies.

The OJK will urge banks and finance companies to provide a nominative list of debtors. When the Ministry of Finance declares the program to be running, then the program can be realized immediately.

In the meantime, if obstacles are encountered in the implementation, the OJK and Ministry of Finance will continually coordinate to find solutions, so that the program runs well in accordance with procedures that prioritize the aspects of sound governance. Related news: COVID-19 handling costs equivalent to 4.2 percent of GDP: Minister
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