The issuance of the regulation is one of our attempts to increase economic inclusion, open financial access, as well as strengthen the role of MSMEs in national economic recovery.
Jakarta (ANTARA) - Bank Indonesia (BI) has issued Bank Indonesia Regulation (PBI) Number 23/13/PBI/2021 on Macroprudential Inclusive Financing Ratio (RPIM) for Conventional Commercial Banks, Sharia Commercial Banks, and Sharia Business Units, effective August 31, 2021.

"The issuance of the regulation is one of our attempts to increase economic inclusion, open financial access, as well as strengthen the role of MSMEs in national economic recovery," head of BI's communications department, Erwin Haryono, said in an official statement issued here on Wednesday.

He added that the policy will provide more options for banks to participate in financing MSMEs, Low-Income Individuals (PBR), and other inclusive financing.

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The regulation provides an explanation of RPIM implementation by banks, its scope, and the obligation for fulfill financing, which is to be carried out in stages comprising at least 20 percent in 2022, 25 percent in 2023, and 30 percent in 2024, Haryono said.

Furthermore, the regulation also details procedures for calculating RPIM, reporting, publication, supervision, evaluation and technical assistance, as well as awards and sanctions, he informed.

The issuance of the regulation was driven by several considerations, such as the BI’s role in maintaining financial system stability through macroprudential policies by encouraging a balanced and quality intermediation function, he said.

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Hence, in order to encourage a balanced and quality intermediation function, it is necessary to increase access to inclusive financing as well as development for MSMEs and PBR by setting the RPIM, Haryono said.

Moreover, the RPIM arrangement needs to broaden the scope of credit or MSMEs financing while paying attention to the bank’s expertise and business model, he added.

"Hence, with the enactment of the new regulation, the PBI Number 14/22/PBI/2012 on the Provision of Credit or Financing by Commercial Banks and Technical Assistance for the Development of Micro, Small, and Medium Enterprises, as amended by Bank Indonesia Regulation Number 17/12/ PBI/2015 is revoked and declared invalid," Haryono said.


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Translator: Agatha Victoria, Uyu Liman
Editor: Fardah Assegaf
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