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"Saksikan tayangan kami Official Youtube IDX Channel di Program Market Review (24/01/2025) dengan tema OJK Batasi Usia dan Penghasilan Nasabah Pinjaman Daring".
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00:00Yes, hello Pemirsa, how are you today straight from the IDX studio in Jakarta, I am Prasetyo Wibro,
00:26welcome back to market review, which will tackle the issues that are the driving force of the economy in Indonesia.
00:32Our live streaming as usual, you can watch it on IDXchannel.com
00:36and let's start the complete market review.
00:41The Financial Services Authority will limit the age and income of mutual fund providers based on information technology or loan.
00:58This policy is to protect the public as a lender and as a financing company as a donor from the risk of failure to pay.
01:11The Financial Services Authority continues to promote the quality of the development of loan services or BIDAR
01:17by setting an age limit for BIDAR customers, which is 18 years and has an income of at least 3 million rupiah.
01:25Head of the Regulatory Department and Development Department of the OJK, Ahmad Nasrullah explains.
01:30This step is taken to ensure that the development of the BIDAR industry gets better management,
01:36at the same time protecting the public and preventing the continuation of the fintech financial industry peer-to-peer lending.
01:42Ahmad adds that this age limit policy at the same time provides good education to the public
01:48and as part of mitigating future risks.
01:51This age limit policy is also designed to make the development of the industry more inclusive.
01:56So it's not just to protect consumers, but it will prevent lenders from having problems due to loan issues.
02:02And we also limit it from the 18-year-old side, but there is also the income side.
02:09So that's why we limit it to 18 years.
02:14There was also a discussion at that time, why not 21 years?
02:17Yes, because after we discuss it again, we will evaluate it later.
02:23There will also be competition later.
02:27Because age groups under 21, but already adults, may also need financing facilities through BIDAR.
02:37So we set the minimum age to 18 years.
02:42Meanwhile, the OJK hopes that the age limit regulation until the income of BIDAR customers
02:46will make the BIDAR industry continue to grow healthier.
02:49The OJK also ensures that the BIDAR management system will continue to be evolved
02:53in order to increase the efficiency of the BIDAR ecosystem in the future.
02:57From Jakarta, Harjopad, IDX Jelum.
03:05Yes, Pemirsa, to discuss our topic this time,
03:07the age limit OJK and the income of lenders
03:10we have connected via Zoom with Mr. Enci S. Jafar.
03:14He is the General Director of the Association for FinTech Investment with Indonesia or AFPI.
03:19Hello Mr. Enci, how are you?
03:21Hello, how are you? Good.
03:23Thank you for your time, Panci.
03:25The OJK has just announced that it will provide age-related restrictions,
03:29and the amount of income will be allocated to customers from lenders.
03:36In your opinion, is this policy correct?
03:39And the momentum is definitely on the rise.
03:43Yes, AFPI welcomes the OJK regulation on the minimum age limit regulation for over 18 years.
03:53And of course, the minimum income is also Rp 3 million per month.
04:00This policy can promote healthy financing for the productive sectors,
04:07so that it can help increase the national economic growth,
04:14according to the government's plan.
04:18In addition, from the industry side,
04:21this regulation will further push the lending platform
04:26to carry out responsible business practices
04:29in order to provide protection to consumers.
04:34So with this regulation,
04:39in the future, we hope that this lending platform
04:46can be more compliant and prudent.
04:52Maybe that's it.
04:54And we know that the OJK mentions this step as an effort to protect the public,
04:59such as lenders, and then the financing company itself,
05:02as a donor of the risk of failure to pay.
05:06What is it like, if I may be able to update first,
05:10Mr. Encik, with the condition of the Fintech peer-to-peer lending industry itself,
05:13what is it like now?
05:15Yes, the Fintech platform does have the obligation to tighten
05:20the evaluation of the lender before liquidating the funding.
05:24So these steps are for us to do risk mitigation
05:32and, of course, good risk management.
05:41So in the future, of course, we also hope
05:48what is done by the borrower,
05:53what is applied, what they lend,
05:58according to the needs.
06:01Okay, Mr. Encik.
06:02And maybe it can also be said, related to graphics,
06:05related to the performance of Fintech peer-to-peer lending per November 2024,
06:09maybe it can be shown, related to outstanding financing,
06:13the data per November 2024 reached Rp 75.6 trillion,
06:19if we compare with November 2023 at Rp 59.38 trillion.
06:26It means outstanding financing has experienced an increase
06:29year-on-year.
06:32Then the growth rate for November 2024
06:38experienced a growth rate of around 27.32 percent
06:42compared to November 2023 at 18.06 percent.
06:46Meanwhile, in terms of performance financing,
06:50in November 2024, the OJK data recorded 2.52 percent,
06:54in November 2023 compared to the previous year, 2.81 percent.
07:00Based on the data that has been reached by Panci,
07:03it means that in terms of real conditions,
07:06the level of one prosthesis has decreased from 2.81 percent
07:10to 2.52 percent in November 2024,
07:14is it a sign that the industry trend continues to grow positively
07:18and the ability of the public to pay,
07:22and then the literacy level is also getting better, or how?
07:26Yes, we actually see
07:32this development is much better,
07:36because many public awareness
07:41right now to pay, pay well,
07:46and of course also
07:50the public has realized that this prosthesis is needed by the public.
07:56So if we look at it, the growth rate continues to increase
08:01because the need for this prosthesis is still very open to the public,
08:09and the public still needs this loan.
08:15So the most important thing,
08:18even though there are a lot of negative provocateurs out there
08:24who invite to pay, to fail to pay,
08:27how to not pay in a disciplined way,
08:32or not pay the loan back,
08:36but the public has begun to realize that this is very important,
08:42especially young people are very aware to maintain their credibility,
08:47their credit rating, maybe that's it.
08:53Okay, so from the literacy point of view, there has been an increase in the public's understanding
08:58of how to borrow, then the level of risk they have to prepare
09:04and face when we propose a loan.
09:08That's right. Indeed, a few years ago,
09:11more borrowers were not because of needs,
09:16but because of desires,
09:18so the consumptive spirit was very high,
09:22so many failed to pay.
09:25Now, the public has begun to be educated,
09:28even though not 100%, maybe still 60%,
09:33but many people have begun to realize
09:37that it is important to pay in a disciplined way
09:41in order to continue to borrow.
09:49Interesting.
09:50As we know, OJK also limits the daily borrowing rate.
09:56We will discuss this in the next segment.
09:58We will take a short break.
09:59And Mr. Mirsa, make sure you are still with us.
10:08JASAK KEUANGAN
10:11JASAK KEUANGAN
10:13JASAK KEUANGAN
10:15JASAK KEUANGAN
10:17JASAK KEUANGAN
10:19Mr. Mirsa, OJK has set the borrowing rate limit
10:23for daily borrowing,
10:25and the setting of the limit for daily borrowing
10:28is done to maintain the efficiency and health of industrial growth in the future.
10:37The JASAK KEUANGAN Authority has set the rate limit
10:40for VINTEG peer-to-peer lending.
10:44Based on the new determination,
10:45the rate limit for tenors under 6 months is set at 0.3%.
10:50Meanwhile, for tenors over 6 months, it is 0.2% per day.
10:54The adjustment has been ensured since January 1, 2025,
10:58as set by the previous OJK.
11:00Head of the Department of Management and Development of the OJK Board,
11:03Ahmad Rasulullah explains.
11:05The OJK will issue a strict sanction for tenors
11:08who do not comply with the regulation,
11:10because this determination has been ensured to balance various aspects,
11:13including the value of the rate limit according to economic conditions.
11:17This step is expected to be able to maintain the contribution of the tenor ecosystem,
11:20especially to maintain tenors and industrial growth well.
11:24But we also have a calculation,
11:26there are components,
11:28there are components,
11:31one of them is actually operational cost.
11:34We have also called the association yesterday
11:37on how they can increase the efficiency
11:42in this operational so that it can be included.
11:46So in the beginning, maybe they will burn the money,
11:50this industry, because in the beginning it was a big investment.
11:53Here we hope they can be more efficient.
11:55The OJK also ensures that the OJK-regulated lending flow
11:58also includes the category of financing,
12:00including for consumptive and productive.
12:02This determination aims to protect consumers
12:04from too high flow burdens,
12:06as well as to create a healthy competition in the tender industry.
12:10From Jakarta, Harjo Padmo, IDX Jelum.
12:16Yes, our next guest, we will discuss together
12:18what is the movement of the Bank Indonesia or BI Rate,
12:22which was decided to be reduced
12:25to 5.75%.
12:27You can watch it on your television screen.
12:30After holding at 6.25% on August 21, 2024,
12:34the Bank Indonesia reduced the rate to 6%.
12:38In September, it held until October, November, and December 2024.
12:45Then in January 2025,
12:48the BI Rate was reduced to 5.75%.
12:52Let's continue our discussion with Mr. Ancik S. Jafar,
12:56who is the General Director of AFPI.
12:58Mr. Ancik, if we look at the information that has been conveyed,
13:02related to the limitation of daily loan flow rates from Pindar,
13:08what do you think, Mr. Ancik?
13:11Yes, we continue to welcome the determination
13:16and we appreciate the OJK for reducing this flow.
13:22And in accordance with the direction of the OJK,
13:26we will continue to improve
13:29our operation cost and risk control cost
13:34to make it more efficient.
13:39So that later, of course,
13:43this flow can be a profit for us.
13:48So that's what we always emphasize to the members.
13:53And we also encourage good and prudent management
13:58to all members.
14:00We hold regular forums
14:03that facilitate the needs of the members.
14:07And we also cooperate with ecosystem companies
14:13on how to reduce costs in this industry.
14:19But among the Pindar companies themselves,
14:21is the average loan rate given to the community the same?
14:25Or is it different?
14:29Of course, each company has its own policies and strategies.
14:36However, for the flow limit,
14:39it still has to comply with the OJK regulations.
14:45Meanwhile, each platform in 97 companies
14:52has their own different strategies.
14:57Okay, if we look at Indonesia's loan rate,
15:00which was reduced to 5.75%,
15:02does this make it more competitive
15:06with other financial institutions?
15:09For example, in terms of the quality of loans from the community.
15:14Actually, we can't compare Apple to Apple with banks.
15:19Because it's very different.
15:21We are peer-to-peer,
15:24where the lender decides.
15:28So, the question is,
15:33does it have an effect on the flow rate from BI?
15:41Of course, it does.
15:43But actually, with banks,
15:47we are not competitors,
15:49but we collaborate.
15:51Because currently, many Pindar
15:56cooperate with banks as lenders.
15:59So, if the flow rate drops,
16:01banks as lenders should also reduce the flow rate.
16:07And it has a very good effect on the borrower or the community.
16:13Mr. Ancik, the OJK also recorded outstanding
16:16financing per November 2024.
16:18This is the data from the OJK.
16:20It grew by 27.32% annually.
16:23The value is Rp. 75.6 trillion.
16:26Compared to October 2024,
16:28the growth is around 29.23%.
16:31Is this already according to the industry's target
16:35for peer-to-peer lending?
16:37For 2024, yes.
16:39It's according to the target.
16:41We target around that.
16:44Although it's a little above our target.
16:48But we still have to be prudent
16:56and comply.
16:59Because we also see
17:02that the economic situation,
17:04both global and national,
17:06in 2025,
17:08there are still many uncertainties.
17:12There are still things that we can't predict well.
17:17So, how about the projection,
17:19opportunities and challenges that have been discussed
17:22or even mitigated
17:25by peer-to-peer lending industries
17:27in facing 2025?
17:31Yes.
17:32Of course, I have said earlier
17:34that we will continue to discuss
17:36with the third parties,
17:39namely the ecosystem members in AFPI
17:44on how we can do
17:49a good risk mitigation.
17:52And we will continue to tell our friends
17:56that we have to focus on efficiency
18:02and choose good customers
18:06or good borrowers
18:09who will be able to save us in 2025.
18:14Okay.
18:15As we can see,
18:16one of the supporters is the micro-businesses.
18:21Maybe some of you have heard about it.
18:23What do you think?
18:24Will the potential of the micro-businesses
18:27still be a promising thing
18:30for peer-to-peer lending in 2025?
18:32Yes, in 2025,
18:34we will focus on micro-businesses and ultra-micro-businesses.
18:38Okay.
18:39Because the market share
18:44in micro-businesses and ultra-micro-businesses
18:47is very large and open.
18:50We just need to continue
18:55to do education and literacy.
18:58Because there are some communities
19:02that need to be built
19:05and of course,
19:08we need to do
19:11an analysis together
19:14with the entrepreneurs
19:17of micro-businesses and ultra-micro-businesses.
19:21Okay.
19:22Is there any concrete cooperation
19:24related to the effort to increase the spread
19:26of peer-to-peer lending
19:28or loans for the micro- or ultra-micro-businesses?
19:32We will discuss it in the next segment.
19:33We will be back in a moment.
19:35We will be back after the break.
19:44Thank you for joining us in Market Review.
19:58We will continue this interesting discussion
20:00with Mr. Panci S. Jafar,
20:02who is the General Director of AFPI.
20:04Panci, if we talk about the MSME sector,
20:07we know that this is a sector
20:09that has supported Indonesia's economic growth
20:11in the past few years
20:13and has proven to withstand the fall of Indonesia
20:15from the COVID-19 pandemic.
20:17Is this an opportunity for the peer-to-peer lending industry
20:20to enter the ultra-micro, micro, and small business sector?
20:25Yes, that's right.
20:27Of course, MSMEs are one of our targets.
20:32Because from the World Bank's research
20:35for Indonesia,
20:38there are still 46 million MSMEs
20:42that have not been touched by banks
20:51or other financial institutions.
20:55So, this is one of our targets.
21:01Of course, we ensure that funding
21:03continues to flow to the MSME sector in the long term.
21:08This is done by promoting strategic collaboration
21:16between MSMEs and other financial institutions.
21:21Is the policy of MSMEs that limit age and income
21:25also true for the ultra-micro, micro, and small industries?
21:29Yes, it's true.
21:33I would like to add something.
21:37In PIDAR, we have three clusters.
21:42The first is the productive cluster.
21:44The second is the multi-use cluster,
21:46also known as cash loan.
21:48The third is the charity cluster.
21:51In terms of multi-use,
21:54if we look deeper into it,
22:00there are many ultra-micro communities
22:04that borrow cash loans.
22:07They are multi-use,
22:08but they are actually used for productive purposes,
22:11for MSMEs,
22:12such as small communities,
22:15small shops,
22:17small food vendors.
22:20They only need 1-2 million,
22:22but they will be returned every month,
22:26and so on.
22:27This actually shows that
22:30the potential of ultra-micro in Indonesia
22:36is very big.
22:39This is what we will continue to develop
22:46for small entrepreneurs.
22:50Ultra-micro,
22:52so the class is led by MSMEs,
22:55will continue to develop.
22:58Maybe that's it.
22:59Okay.
23:00Are there any special programs
23:02for ultra-micro entrepreneurs,
23:05or micro-entrepreneurs,
23:07not from the peer-to-peer lending industry itself,
23:10so that it can be more attractive for them,
23:14and there is an opportunity for them?
23:16Yes.
23:17We always do,
23:19of course, in 2025,
23:22we will further intensify and increase
23:26cooperation with MSME communities
23:31and ultra-micro communities.
23:34So in 2025,
23:37we will focus on that too,
23:40and of course,
23:42how education and literacy to the community,
23:46especially MSMEs and ultra-micro,
23:50can run well.
23:52Okay.
23:53Then the growth target from the financing side,
23:56the entire lending itself,
23:59lending in 2025,
24:01what is it like, sir?
24:03Yes, we are not too aggressive,
24:07we are still optimistic,
24:11our target is between 5-7% for growth.
24:16And because frankly,
24:19there are many factors that affect our analysis,
24:24especially the global economic situation
24:28and domestic economic situation
24:32that we also need to consider.
24:35So we still grow,
24:39but actually we do more
24:47and internal improvements,
24:50such as good management and so on.
24:54So what is your optimism for 2025?
24:58If the growth is quite moderate,
25:01at 5-7%?
25:04Yes, I think 5-7%
25:09can help MSMEs and ultra-micro communities.
25:16And with this growth,
25:19we will of course see,
25:22nature will select,
25:25small entrepreneurs,
25:29micro and ultra-micro,
25:32MSMEs and ultra-micro,
25:35which can survive,
25:37which we can develop.
25:39Okay, that's it.
25:41So there are still efforts to increase the network,
25:44by collaborating with MSMEs and ultra-micro entrepreneurs,
25:49so that the network,
25:50the important thing is to mitigate the risks,
25:53and also the literacy given to the community,
25:56how to use this loan in 2025.
26:02Thank you very much for the information,
26:04updates and analysis given to the audience today.
26:08Congratulations on your activities again.
26:10Stay healthy, see you again.
26:12Thank you very much.
26:42Transcription by ESO. Translation by —
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