JAKARTA - The Financial Services Authority (OJK) carried out socialization activities related to POJK Number 57/POJK.04/2020 concerning Public Offering of Securities Through Information Technology-Based Crowdfunding Services "Securities Crowdfunding" to MSMEs in the Sulawesi, Maluku, Papua and Bali Regions and Nusa Tenggara.
OJK Capital Market Supervisory Chief Executive Hoesen said this step was an effort to support the government's program in national economic recovery.
“In launching this Securities Crowdfunding, OJK hopes that the culture of mutual cooperation that exists in the community can be absorbed into the form of business activities in the capital market through the concept of offering securities. However, the mechanism is carried out through digital applications/platforms or what we often call financial technology securities crowdfunding,” he said in a webinar, Tuesday, June 8.
Hoesen added, initially this crowdfunding fintech activity was regulated in POJK Number 37 of 2018 concerning Crowdfunding Services through Information Technology-Based Stock Offerings or often called Equity Crowdfunding (ECF).
"After we evaluated it, it turns out that ECF activities still have many limitations, including the type of business actor that must be a PT legal entity and the types of securities that can be offered are only shares," he said.
As an illustration, until the end of December 2020, the number of MSME publishers/actors who used ECF 5 out of 4 providers, only reached 129 publishers (companies) with the amount of funds raised reaching Rp191.2 billion.
When compared to the total number of MSMEs in Indonesia, which according to 2018 Kemenkop SME data, has reached 64 million business actors, the number of ECF issuers is still very small.
"Reflecting on the evaluation that has been carried out, especially regarding OJK's support for MSMEs, OJK has decided to revoke POJK Number 37 of 2018 and replace it with POJK Number 57 of 2020," he said.
This change in provisions aims to expand the types of business actors that can be involved, from previously only being a PT legal entity, now including business entities such as CV, Firm, and Cooperatives.
In addition, POJK 57 also expands the types of Securities that can be offered, from previously only in the form of shares, now expanded to Securities in the form of Bonds and Sukuk.
"In addition to providing convenience from the publisher side (MSMEs), this policy is also expected to provide broad opportunities for retail investors, especially those who are domiciled in the MSMEs that issue SCFs to contribute to economic development in their respective regions," he explained.
For information, after the issuance of POJK Number 57 of 2020, until May 31, 2021 the total number of organizers has increased to 5.
In addition, the number of MSME publishers/actors utilizing Equity Crowdfunding (ECF) also grew by 17.05 percent (year-t0-date) to 151 publishers.
The amount of funds raised also increased by 43.02 percent this year to Rp273.47 billion.
From the investor side, it also grew by 49.06 percent (year-to-date) from the previous 6 as of December 31, 2020, which only amounted to 22,341, to 33,302 investors.
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