OJK: Financial Services Sector Supports Expansion Of MSME Financing Access

Chairman of the Board of Commissioners of the Financial Services Authority (OJK) Mahendra Siregar. (Photo: Doc. Antara)

JAKARTA - The Financial Services Authority (OJK) said that the financial services sector plays an important role in supporting government programs through expanding access to financing to micro, small and medium enterprises (MSMEs).

"We hope that the contribution of the financial services sector is not limited to achieving good growth rates, but also concrete steps are needed by the financial services industry to support government programs," said OJK Board of Commissioners Mahendra Siregar in Jakarta, quoted from Antara, Monday 9 December.

The contribution of the financial services sector can include the initiative to expand access to financing for MSMEs as a supporting ecosystem (supporting ecosystem) for Free Nutrition Food (MBG), acceleration of green finance and support for the development of the financial schemes/nstruments needed to support downstreaming and support the 3 million homes program every year.

This was conveyed by Mahendra during the 2024 Year End Dialogue of the OJK Board of Commissioners with the Financial Services Industry (IJK) which was held on December 2-3, 2024 in Jakarta.

On that occasion, the industry also provided input so that the property ecosystem would also be comprehensively considered, including cement producers, steel and other construction materials in supporting the 3 million homes program.

In addition, he continued, the deepening of foreign currency markets and liquidity is very important to seize downstream opportunities and facilitate investment in multinational companies into Indonesia.

The OJK Year-End Dialogue with the Financial Services Industry is an activity carried out every year as a direct communication forum for the OJK Board of Commissioners with the leadership of the financial services industry. The activity has been held regularly since December 2022 and has been going on for the third time.

Meanwhile, Deputy Chairman of the OJK Board of Commissioners Mirza Adityaswara said the meeting was also a follow-up to a series of sectoral Focus Group Discussions during October 2024 which became a means of hearing technical input from financial service industry players.

"We capture the industry's hope that OJK will continue discussions with future policy improvement actions," he said.

In each session, the activities were attended by more than 100 participants from the leadership and representatives of the IJK, representatives of the IJK perpetrator association and supporting professions, as well as external stakeholders in each IJK supervision sector.