OJK Supports Regional Ukm Financing Through Securities Crowdfunding

Photo: Doc. Financial Services Authority

The Financial Services Authority (OJK) together with the Self-Regulatory Organization (SRO) are known to continue to encourage financing for SMEs through instruments in the Capital Market by utilizing Securities Crowdfunding (SCF) as an alternative funding.

Chief Executive of the Capital Market Supervisory, Derivative Finance, and OJK Carbon Exchange, Inarno Djajadi, said that his party is committed to supporting the development of SMEs through various regulations and policies in the financial sector.

"One of the concrete steps that has been taken by the OJK is to accelerate the expansion of access to SMEs' financial access in the Capital Market sector through the use of Fund Urun Services or crowdfunding securities," he said in a written statement, Friday, September 22.

According to Inarno, this latest service is expected to be an alternative solution for business actors who need capital, especially for SMEs that are not yet bankable due to limited access, so that they can take advantage of this service through the use of digital platforms.

"We invite you to be able to take advantage of the momentum at this event to gain an understanding of the business process of the Urun Dana Service or SCF, so that you can use it for SMEs," he said.

OJK launched, until August 31, 2023, there were 16 organizers who obtained permission from the OJK with 439 publishers and 159,408 investors. The total funds raised amounted to Rp951.20 billion.

Inarno added that optimism for Indonesia's capital market growth continues despite various pressures caused by global dynamics.

"With the rapid growth of the number of retail investors, this can have a positive impact on the Capital Market in Indonesia because in addition to being able to provide stability and liquidity in the capital market, on the other hand it can also become a shock absorber that reduces turmoil and fluctuations in stock prices when foreign investors choose to withdraw funds abroad from the Indonesian Capital Market," he stressed.

In the future, continued Inarno, OJK will also prepare regulations aimed at providing investor protection, including the application of investment manager classification through improving regulations related to investment manager licensing.

"OJK will draft regulations related to the ranking and rating of Mutual Funds as well as changes to the Government Protection Fund regulations to include Mutual Funds and underfunded services (SCF)," he concluded.