OJK Introduces Stimulus Measures to Strengthen the Financial Sector’s Role in Economic Growth

JAKARTA, investortrust.id – Indonesia’s Financial Services Authority, or OJK, is implementing a series of stimulus measures to optimize the financial sector’s role in driving economic growth amid the state budget’s limited fiscal capacity. These initiatives aim to accelerate sectoral contributions to national development.

OJK Chairman Mahendra Siregar outlined these efforts during the 2025 Annual Financial Services Industry Meeting (PTIJK) at the Jakarta Convention Center on Tuesday, Feb. 11, 2025.

Mahendra emphasized that 2025 will present no fewer challenges than previous years, as global economic growth remains subdued, and major economies are experiencing a slowdown. He noted that trade policies are increasingly driven by political considerations, leading to global fragmentation and a decline in trade volume.

Domestically, structural issues persist, particularly in absorbing formal employment and improving the purchasing power of the lower-middle class. “Amid this downsizing, transformative steps are necessary to achieve national growth targets,” Mahendra said.

Resilience of the Financial Sector

Despite these challenges, Mahendra highlighted that Indonesia’s financial sector remains resilient, supported by strong capital buffers, ample liquidity, and robust risk management. “These factors serve as key foundations to withstand external shocks. The synergy between the Ministry of Finance, Bank Indonesia (BI), the Indonesia Deposit Insurance Corporation (LPS), and the financial industry under the Financial System Stability Committee (KSSK) has contributed significantly to this resilience,” he added.

Given these conditions, OJK is committed to accelerating economic growth by optimizing the financial sector’s contributions, particularly in priority sectors, amid the state budget’s limitations.

Key Initiatives to Support Growth

OJK has introduced several key initiatives, including facilitating priority credit disbursement, with a particular focus on financing programs that bolster food security and the government’s plan to develop three million affordable homes.

In the healthcare sector, OJK is collaborating with the Ministry of Health to enhance the health insurance ecosystem, ensuring broader accessibility and sustainability.

For the affordable housing initiative, OJK is adopting a holistic policy approach, providing regulatory relief for mortgage providers. Asset quality assessments will be based on a single criterion, and there will be no restrictions on lending to non-performing borrowers.

Additionally, OJK is supporting housing finance liquidity through structured investment products, including asset-backed securities in the form of participation certificates (EBA-SP).

Boosting MSME and Export Financing

OJK is also reinforcing the role of insurance and credit guarantees to support micro, small, and medium enterprises (MSMEs), particularly in securing working capital loans.

For foreign exchange proceeds (DHE) from natural resource exports, OJK is introducing greater flexibility in export financing. One such measure includes exempting the maximum credit exposure limit (BMPK) for DHE placements in banks, enabling back-to-back credit collateralization. OJK is also encouraging financing policies that prioritize downstream industrialization.

Strengthening Financial Literacy

Beyond financing, OJK is enhancing financial literacy programs by integrating financial education into the national curriculum. This effort is aimed at fostering a more financially literate society, ultimately strengthening economic stability.

Through these targeted interventions, OJK seeks to reinforce the financial sector’s role as a key driver of Indonesia’s economic growth in 2025.