JAKARTA - The Financial Services Authority (OJK) supports the government's policy which plans to change the interest rate of the People's Business Loan (KUR) to a maximum of 5 percent to expand access to financing for the community and MSMEs.
"Of course this is very good to support our people to be able to get these facilities," said Chairman of the OJK Commissioner Board, Friderica Widyasari Dewi, when met by the media at the Indonesia Stock Exchange, Jakarta, quoted by Antara, Tuesday, May 12.
Friderica or Kiki as he is familiarly called said that his party had discussed this policy in a meeting with Coordinating Minister for Economic Affairs Airlangga Hartarto, Finance Minister Purbaya Yudhi Sadewa, Bank Indonesia Governor Perry Warjiyo, and Danantara Indonesia CEO Rosan Roeslani some time ago.
He added that OJK encourages state-owned companies other than banks that have good credit distribution capacity to also become KUR distributors.
Kiki also conveyed that the latest KUR policy was also in line with the strengthening of the Financial Information Service System (SLIK) policy set by OJK.
In order to support the acceleration of the 3 million house program, OJK has decided that the information to be displayed in the SLIK report is credit or financing with a nominal amount of more than IDR 1 million, based on the ceiling and debit balance of each debtor.
Previously, Indonesian President Prabowo Subianto in a speech at the International Labor Day commemoration at the National Monument (Monas), Jakarta, Friday, May 1, emphasized that the government would immediately disburse KUR with a maximum interest of five percent per year to improve the welfare of small people.
"I have ordered banks owned by the Republic of Indonesia that we will soon disburse KUR up to 5 percent a year," said President Prabowo.
The President explained that the policy was taken because so far small communities, including workers, farmers, and fishermen, have often been entangled in very high loan interest rates.
According to him, people's income should not be exhausted just to pay for burdensome loan interest.
As a follow-up, the Ministry of Finance (Kemenkeu) is calculating changes to the KUR interest subsidy budget to meet President Prabowo Subianto's directives.
For your information, the current KUR interest rate is set at 6 percent flat.
The Acting Director General of the Budget of the Ministry of Finance Sudarto in the APBN KiTa April 2026 press conference at the Ministry of Finance office, Jakarta, Tuesday, May 5, explained that the reduction in the amount of interest subsidies would also change the budget ceiling.
"Currently, the ceiling for interest subsidies is Rp. 36 trillion. We have calculated the change from 6 percent to 5 percent. We will immediately convey it," said Sudarto.
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