PERTEMUAN TAHUNAN INDUSTRI JASA KEUANGAN “MOMENTUM REFORMASI SEKTOR JASA KEUANGAN PASCA COVID-19 DALAM PERCEPATAN PEMULIHAN EKONOMI NASIONAL YANG INKLUSIF”

ANNUAL FINANCIAL SERVICES INDUSTRY GATHERING THE MOMENTUM OF POST COVID-19 FINANCIAL SERVICES SECTOR REFORM TO ACCELERATE AN INCLUSIVE ECONOMIC RECOVERY

Jakarta, 15 Januari 2021 Jakarta, January 15th, 2021

Yang Kami muliakan dan banggakan, Your Excellency, Presiden Republik – The President of the Republic of Bapak Ir. H. , Indonesia – Bapak Ir. H. Joko Widodo Wakil Presiden Republik Indonesia The Vice President of the Republic of Bapak Prof. Dr. K.H. Ma’ruf Amin, Indonesia – Bapak Prof. Dr. K.H. Ma’ruf Yang Kami hormati, Amin - Pimpinan Lembaga Negara, The Honorables, - Pimpinan Majelis Permusyawaratan - Heads of High State Institutions, Rakyat, Dewan Perwakilan Rakyat, - Heads of the People’s Consultative Dewan Perwakilan Daerah, Badan Assembly, House of Representatives, Pemeriksa Keuangan, Mahkamah Regional Representatives Council, Agung, dan Mahkamah Konstitusi RI, Audit Board, Supreme Court, and - Pimpinan dan Anggota Komisi XI, Constitutional Court of the Republic Komisi VI, dan Badan Legislasi DPR of Indonesia , RI yang tidak bisa kami sebut satu - Heads and Members of Commission persatu, XI, Commission VI, and the House of - Duta besar negara sahabat dan Representatives of the Republic of Kepala Perwakilan Organisasi Indonesi, Internasional, - Fellow Ambassadors of Foreign - Bapak Menteri Koordinator Bidang Countries and Heads of International Politik, Hukum dan Keamanan, Organizations, - Bapak Menteri Koordinator Bidang - Coordinating Minister for Political, Perekonomian, Legal and Security Affairs, - Bapak Menteri Koordinator Bidang - Coordinating Minister for Economic Pembangunan Manusia dan Affairs, Kebudayaan, - Coordinating Minister for Human - Bapak Menteri Koordinator Bidang Development and Cultural Affairs, Kemaritiman dan Investasi, - Coordinating Minister for Maritime Affairs and Investment,

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- Bapak/Ibu Menteri Kabinet Indonesia - The Maju dan Pimpinan Lembaga lainnya Ministers and Heads of Institutions, yang berkesempatan hadir pada - Head and Members of Financial malam ini, System Stability Committee (KSSK) – - Ketua dan Anggota KSSK, yaitu Ibu Minister of Finance as the Head of Menteri Keuangan sebagai Ketua, KSSK, Governor of , Gubernur Bank Indonesia, dan Ketua and Chairman of Indonesia Deposit Dewan Komisioner LPS, beserta Insurance Corporation Board of jajarannya, Commissioners, - Para Gubernur dan Kepala Daerah, - Provincial Governors and District - Rekan-rekan Anggota Dewan Heads, Komisioner OJK, - Members of OJK Board of - Para Pimpinan Asosiasi dan Commissioners, Lembaga Jasa Keuangan, - Leaders of Financial Services - Rekan-rekan media massa dan Associations and Institutions, Bapak/Ibu hadirin sekalian yang - Members of the press, and berbahagia, distinguished Ladies and Gentlemen,

Assalamu’alaikum Warahmatullahi Assalamu’alaikum Warahmatullahi Wabarakatuh Wabarakatuh Selamat malam dan salam sejahtera Good evening and best wishes to all of untuk kita semua, Om swastyastu, us, Om swastyastu, Namo buddhaya. Namo buddhaya, Salam Kebajikan.

PEMBUKAAN OPENING 1. Puji dan syukur marilah kita panjatkan 1. We praise the God Almighty for the kepada Tuhan Yang Maha Kuasa blessings and grace bestowed upon us karena atas limpahan rahmat dan that allow all of us to gather this evening at karunia-Nya, kita dapat hadir malam ini the Annual Function for Financial Services dalam acara Pertemuan Tahunan Industry. Industri Jasa Keuangan Tahun 2021.

2. Pertama-tama, kami mewakili keluarga 2. On behalf of OJK and the financial besar OJK dan Industri Jasa Keuangan services industry, please allow me to start menyampaikan turut berbela sungkawa by expressing our condolences on the atas gempa bumi yang dialami Saudara- recent earthquake that happened to our saudara kita di Majene dan Mamuju, relatives in Majene and Mamuju, West Sulawesi Barat. Kami mendoakan agar Sulawesi. Our thoughts and prayers are seluruh korban meninggal dunia with the the victims, may their soul rest in

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diterima di tempat yang terbaik di sisi- peace in God’s heaven and may the Most Nya, dan juga bagi keluarga yang Merciful grant their families with strength ditinggalkan agar diberikan kesabaran and perseverance to get back on their dan kekuatan untuk bangkit kembali feet

Bapak Presiden dan Bapak Wakil His Excellency Mr. President, Mr. Vice Presiden yang kami muliakan dan President and honorable guests hadirin sekalian yang berbahagia

3. Merupakan kebahagiaan dan 3. It is a great pleasure for us and all financial kehormatan bagi kami dan seluruh service industry players to have the pelaku industri jasa keuangan karena presence of His Excellency President with Bapak Presiden tetap menyempatkan us in this wonderful evening. The untuk hadir bersama kita pada pagi President’s kind attention and support yang berbahagia ini. Kehadiran Bapak certainly give encouragement for all of us Presiden memberikan semangat bagi in our strides towards realizing an kami semua untuk terus berkarya dalam Advanced Indonesia mewujudkan Indonesia maju

4. Dalam menyikapi besarnya tuntutan dari 4. In response to high demands from para pemangku kepentingan dan stakeholders and the public for Indonesia masyarakat untuk Indonesia dapat to immediately rebound from Covid-19 segera bangkit kembali dari dampak pandemic, taking into account the future Pandemi Covid-19 serta perkembangan development of the financial services sektor jasa keuangan ke depan, maka sector, we feel that now is the perfect saat ini merupakan momentum yang moment to carry out fundamental reforms tepat untuk melakukan reformasi in the financial services sector. For this fundamental di sektor jasa keuangan. reason, we chose the theme of “Post Untuk itu, pada Pertemuan Tahunan Covid-19 as a Momentum for Reforms in Industri Jasa Keuangan Tahun 2021 ini, Financial Services Sector to Accelerate kami mengambil tema “Momentum Inclusive National Economic Recovery” Reformasi Sektor Jasa Keuangan Pasca for this Annual Function for Financial Covid-19 dalam Percepatan Pemulihan Services Industry this evening. Ekonomi Nasional yang Inklusif”

5. Kami, seluruh Anggota Dewan 5. We, OJK Board of Commissioners, along Komisioner, dan segenap jajaran OJK with all OJK officials, are highly memiliki komitmen yang tinggi untuk committed to continuously maintaining terus menjaga stabilitas sistem the financial services sector’s stability keuangan ditengah pandemi, dan amid the pandemic, facilitating various

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memfasilitasi berbagai upaya Government efforts to carry out economic Pemerintah untuk melakukan pemulihan recovery and continuing national ekonomi dan melanjutkan development for a more equitable and pembangunan nasional demi prosperous Indonesia. masyarakat Indonesia yang lebih adil dan sejahtera.

6. Pada kesempatan yang berbahagia ini, 6. On this wonderful occasion, allow us to ijinkan kami mengawali pemaparan kami start by briefly presenting our evaluation dengan menyampaikan secara ringkas on financial services sector’s evaluasi kinerja sektor jasa keuangan performance in 2020, followed by serta prospek dan tantangan yang akan opportunities and potential risks that we kita hadapi di tahun 2021 ini. Kemudian will face in 2021. We will then conclude akan kami akhiri dengan menyampaikan by presenting the strategic policy arah kebijakan strategis sektor jasa directions for the financial services sector keuangan ke depan. going forward.

DINAMIKA EKONOMI DAN PASAR GLOBAL ECONOMIC AND FINANCIAL KEUANGAN GLOBAL MARKET DYNAMICS

Bapak Presiden dan Bapak Wakil His Excellency Mr. President, Mr. Vice Presiden yang kami muliakan dan President and distinguished guests, hadirin sekalian yang berbahagia,

7. Pandemi Covid-19 yang menyebar 7. The Covid-19 pandemic that has spread sepanjang tahun 2020 merupakan throughout 2020 is a perfect storm that perfect storm yang membawa has brought great shocks –both on guncangan hebat baik pada sisi supply supply side due to disruption of global akibat terganggunya rantai produksi and domestic production chains, and on global maupun domestik dan dari sisi demand side due to the decreased demand akibat penurunan pendapatan income—resulting from restrictions on masyarakat sebagai dampak mobility and reduced economic activity. terbatasnya mobilitas dan turunnya kegiatan ekonomi.

8. Sepanjang sejarah tidak pernah dialami 8. Throughout history of our lifetime, there penurunan yang sangat tajam dan has never been such a drastic decline in dalam waktu yang singkat terhadap both global economic and financial indikator perekonomian maupun pasar market indicators that occurred

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keuangan global secara bersamaan. simultaneously in such a short period of Perekonomian global terkontraksi cukup time. The global economy suffered a dalam dan cepat yang menekan kinerja quite deep and rapid contraction, which sektor riil dan meningkatkan pressured the real sector performance pengangguran. and caused an increase in unemployment.

2 Gambar 1. 1 Indeks Kondisi Keuangan 0 (Sumber: Bloomberg) -1 -2 Figure 1. -3 Financial Condition Index -4 (Source: Bloomberg) -5 -6 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20

AS (US) Uni Eropa (EU) Inggris (UK)

9. Berkat sinergi antara Pemerintah, 9. The synergy among Governments, otoritas moneter maupun otoritas monetary authorities and financial keuangan di seluruh dunia yang authorities around the world, as well as mengeluarkan kebijakan extraordinary extraordinary and massive stimulus dan stimulus yang massive, policies taken, have begun to bear fruit. perekonomian global telah berhasil The global economy and financial market melewati fase tekanan tertinggi pada have successfully withstood extreme kuartal 2-2020 dan terus mengalami pressure, which occured in the second pemulihan secara bertahap. quarter of 2020, and enable gradual recovery.

10. Sejalan dengan likuiditas yang ample 10. In line with ample liquidity and reduced dan volatilitas yang menurun di pasar volatility in the global financial markets, keuangan global, investor global mulai global investors have begun to enter masuk ke pasar keuangan negara financial markets of emerging countries, emerging markets, termasuk Indonesia including Indonesia; this has resulted in yang mendorong penguatan pasar strengthened financial markets and keuangan dan nilai tukar. domestic exchange rate.

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160 150 Gambar 2. 140 130 Index pasar saham utama dunia 120 (Sumber: Bloomberg) 110 100 90 80 Figure 2. 70 60 Major stock market index (Source: Bloomberg)

DJI Index NKY Index FBMKLCI Index SHCOMP Index HSI Index JCI Index SET Index KOSPI 90 700 Gambar 3. 80 600 70 Index pasar saham global 500 60 (Sumber: Bloomberg) 400 50 40 300 30 200 Figure 3. 20 Global stock market index 10 100 (Source: Bloomberg) 0 0 1/1/19 4/1/19 7/1/19 10/1/19 1/1/20 4/1/20 7/1/20 10/1/20

Vix Index Indeks Saham Global Global Stock Index 11. Namun demikian, pemulihan ekonomi 11. However, global economic recovery is still global masih dihadapkan pada berbagai faced with various challenges that will be tantangan, terutama dipengaruhi oleh influenced by the availability and ketersediaan dan distribusi vaksin serta distribution of vaccines and concerns on kekhawatiran munculnya varian baru outbreak of the new Covid-19 Virus Virus Covid-19 yang lebih menular. variant that is way more contagious.

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PERKEMBANGAN EKONOMI DAN THE DEVELOPMENT OF DOMESTIC SEKTOR JASA KEUANGAN DOMESTIK ECONOMY AND FINANCIAL SERVICES SECTOR

Bapak Presiden dan Bapak Wakil His Excellency Mr. President, Mr. Vice Presiden yang kami muliakan dan President and esteemed ladies and hadirin sekalian yang berbahagia, gentlemen,

12. Ketidakberlangsungan aktivitas sosial 12. Restriction of social and economic dan ekonomi masyarakat berimbas activities has greatly disrupted business kepada dunia usaha. Akibatnya, sektor sector. Informal sector and Micro, Small, informal dan UMKM begitu terpukul. and Medium Enterprises (MSMEs) have Demikian juga industri manufaktur tidak been hit hard. Accordingly, factories dapat beroperasi pada kapasitas operate below their optimal capacity. The optimal mereka. Tingkat pengangguran open unemployment rate jumped to terbuka melonjak menjadi 7,07% pada 7.07% in August 2020, up from 5.23% in Agustus 2020, naik dari sebesar 5,23% the same period last year, causing an periode yang sama tahun lalu, sehingga increase in unemployment by 2.67 million jumlah pengangguran naik menjadi 2,67 people. juta orang.

Gambar 4. dalam jutaan Tingkat Pengangguran di (in million) 9.77 10 8% Indonesia 8 7.07 7.10 (Sumber: Badan Pusat Statistik) 7.07% 6% 6 5.30% 5.23% 4% 4 Figure 4. 2 2% Unemployment Rate in Indonesia 0 0% (Source: ) Aug-18 Aug-19 Aug-20 Pengangguran TPT (Unemployment) (Open Unemployment Rate)

13. Di sektor jasa keuangan, pandemi ini 13. In financial services sector, this pandemic telah berdampak pada meningkatnya has resulted in an increase in a number of beberapa potensi risiko, baik di sisi risiko potential risks, both in terms of liquidity likuiditas berupa aliran dana keluar, risk in form of outflows; credit risk in form risiko kredit berupa debitur yang default of loan defaults due to decreased akibat penurunan aktivitas usahanya, business activities; and reduced serta tekanan profitabilitas baik pada profitability for both businesses and perusahaan maupun debitur. individual debtors.

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14. Potensi berlanjutnya pemburukan 14. The potential for a continued economic ekonomi akibat pandemik Covid-19 ini downturn due to the Covid-19 pandemic akan mengancam stabilitas sistem jasa will threaten the stability of the financial keuangan apabila tidak dilakukan services sector had early prevention or pencegahan (mitigasi) lebih dini. Upaya mitigation measures not been taken. pencegahan yang cepat dan bersama- Rapid and concerted prevention efforts sama sangat diperlukan agar sektor jasa are urgently needed to keep financial keuangan tidak jatuh ke dalam krisis. services sector from falling into crisis.

15. Untuk mengantisipasi dampak pandemi 15. To anticipate the impact of Covid-19 Covid-19 ini terhadap pasar keuangan pandemic on financial market and dan sektor jasa keuangan, Otoritas Jasa financial services sector, OJK has issued Keuangan telah mengeluarkan forward forward looking and countercyclical looking and countercyclical policies policies to minimize market volatility and yang ditujukan untuk mengurangi non-resident capital outflows as well as volatilitas pasar dan outflow non- to maintain overall financial system residen, serta menjaga stabilitas sistem stability. The Government and Bank keuangan secara keseluruhan. Indonesia also play an important part by Pemerintah dan Bank Indonesia juga rolling out fiscal stimulus and sangat membantu dengan stimulus accommodative monetary policies. fiskal dan kebijakan moneter yang akomodatif.

16. OJK bersama Pemerintah dan Bank 16. Together with the Government and Bank Indonesia telah memberikan ruang bagi Indonesia, OJK has provided the real sektor riil untuk bertahan dalam sector a room to maneuver to survive the menghadapi dampak pelemahan impact of the economic downturn, ekonomi khususnya dalam memitigasi particularly in mitigating the default risk risiko gagal bayar debitur (default) dan and liquidity risk in the financial market. risiko likuiditas di pasar keuangan

17. Dengan berbagai kebijakan tersebut, 17. With these various policies, the domestic perekonomian domestik secara economy has continued to improve bertahap terus membaik didorong oleh gradually, driven by expeditious fiscal percepatan realisasi stimulus fiskal dan stimulus realization and improvement in perbaikan ekspor, serta kebijakan exports, as well as restructuring policies restrukturisasi kredit untuk meringankan to ease the burden on the public, informal beban masyarakat, pelaku sektor sector business players, MSMEs, and informal, dan UMKM serta pelaku usaha other business players. lainnya.

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18. Setelah berhasil melewati titik terendah 18. After successfully passing the lowest pada triwulan II 2020 yang terkontraksi point in the second quarter of 2020 sebesar -5,32%, pertumbuhan PDB where the economy was contracted by - membaik menjadi -3,49% di triwulan III 5.32 percent, Gross Domestic Product dan diharapkan pada triwulan IV (GDP) growth had improved to -3.49% in menjadi lebih baik lagi sebagaimana the third quarter. In the fourth quarter, consensus di rentang -2% s.d. -1%. Hal GDP is expected to improve further, as ini merupakan yang terbaik keempat di the consensus forecast shows the setelah Tiongkok, Korea dan Turki. growth to stand between -2% and -1%. Indikator terkini seperti inflasi yang Indonesia's growth in 2020 came as the meningkat serta PMI yang berada di fourth best among the G-20 countries zona ekspansi mengkonfirmasi after the People’s Republic of China, perbaikan ini. Korea and Turkey. Recent indicators, such as rising inflation and Purchasing Managers Index (PMI) in the expansion zone, confirmed these improving economic conditions.

5.07 5.05 5.02 4.97 Gambar 5. Pertumbuhan Produk 2.97 Domestik Bruto Indonesia (Sumber: Badan Pusat Statistik)

Q1-19 Q2-19 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Figure 5. Indonesia Gross -3.49 Domestic Product Growth -5.32 (Source: Statistics Indonesia) 3.5 2.98 2.96 3 2.5 2 1.68 1.32 Gambar 6. 1.5 1 Tingkat Inflasi 0.5 (Sumber: Badan Pusat Statistik) 0 Figure 6. Inflation Rate

Inflasi (% yoy) (Source: Statistics Indonesia) (Inflation (% yoy)

60 49.5 51.3 Gambar 7. 50 PMI Manufaktur Indonesia

40 (Sumber: IHS Markit) 30 20 27.5 Figure 7. Indonesia Manufacturing PMI 10 (Source: IHS Markit) 0 Jul-20 Jan-20 Jun-20

Oct-20 Apr-20 Feb-20 Sep-20

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8.0% 4.0% 4.7% 3.6% Gambar 8. 3.2% 3.2% 2.8% 2.9% 2.8% 3.2% 2.3% 3.5% PDB Indonesia (Proyeksi) 1.8% -3.8% (Sumber: OECD, World Bank) -1.1% -1.3% -4.2% -3.7% -3.8% -2.4% -4.3% -5.1% -5.4% Figure 8. -5.3% Indonesia GDP (Forecast) (Source: OECD, World Bank) 2020 2021

19. Di sisi lain, stabilitas sistem keuangan 19. On the other hand, stability in the financial sampai saat ini masih tetap terjaga services sector is still well maintained so dengan baik sehingga dapat berperan that it is able to play a bigger role in lebih besar dalam mendorong promoting national economic recovery, pemulihan ekonomi nasional dengan supported by accommodative policies didukung kebijakan yang akomodatif rolled out by the Government and Bank dari Pemerintah dan Bank Indonesia. Indonesia

20. Selain itu, sektor jasa keuangan juga 20. In addition, the financial services sector memberi kontribusi signifikan terhadap has also significantly contributed to the program-program Pemerintah untuk Government’s programs in accelarating mempercepat pemulihan ekonomi national economic recovery, both in nasional, baik dalam memfasilitasi facilitating the distribution of non-cash penyaluran bantuan sosial non-tunai, social assistance, interest subsidies, subsidi bunga, penyaluran kredit dari lending from government fund placement program penempatan dana pemerintah, programs as well as guarantees for serta penjaminan UMKM dan korporasi. MSMEs and corporations.

INDUSTRI PASAR MODAL CAPITAL MARKET INDUSTRY

21. Dampak kebijakan pengendalian 21. The impact of the policy to address volatilitas yang telah dikeluarkan sejak volatility issued at the beginning of the adanya pandemi terlihat nyata ketika pandemic is evident. We saw that Jakarta sejak bulan Mei 2020, volatilitas IHSG Composite Index (JCI) volatility has sudah mulai mereda dan pasar SBN started to subside and the Government juga sudah mulai menguat. Hal ini Bonds (SBN) market has also begun to mengindikasikan kepercayaan investor strengthen since May 2020. This yang membaik. Peningkatan indicates an improvement in market kepercayaan investor tersebut mampu confidence, which seems to have meningkatkan capital inflows dan successfully bolstered capital inflows and menahan capital outflows. held back capital outflows.

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Rp Triliun Gambar 9. (IDR Trillion) 40 Non-resident Inflow/Outflow Pada 21.8 20 15.20 7.07 15.56 Instrumen Saham dan Surat Berharga -4.76 5.17 8.79 3.4 0 -5.59 -8.82 -8.51 -15.59 0.03 8.08 3.44 Negara -4.54 -3.85 -3.71 -3.96 -20 -2.15 -3.85 (Sumber: Bloomberg, DJPPR Kementerian -8.79 -40 -28.90 Keuangan) -60 Saham SBN -80 -100 Figure 9. -120 Non-resident Inflow/Outflow in Stocks -140 -121.26 and Government Bond Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec (Source: Bloomberg, Reuters, DJPPR, Ministry 2020 of Finance)

22. Setelah mencapai titik terendah sebesar 22. After hitting the lowest point of 3,937.6 3.937,6 pada 24 Maret 2020, IHSG on March 24th 2020, the JCI had sampai dengan akhir tahun telah strengthened and was closed at the level menguat dan ditutup pada level 5.979,7 of 5,979.7 on December 30th 2021. pada tanggal 30 Desember 2020. Pada Further, just yesterday on January 14th , perdagangan saham 14 Januari 2021, the JCI was closed at the level of IHSG ditutup pada level 6.428,3. 6,428.3. This is encouraged by the Penguatan ini tidak terlepas dari increase in the number of retail investors meningkatnya jumlah investor di pasar in the capital market, which reached 3.88 modal yang mencapai 3,88 juta investor million investors (2019: 2.48 million (2019: 2,48 juta investor), sejalan investors), in line with OJK's strategic dengan inisiatif strategis OJK untuk initiatives to increase domestic investor meningkatkan basis investor domestik base and to deepen the financial market. dan pendalaman pasar keuangan.

140 (14/1) 6248.3 Volatilitas IHSG IHSG (JCI Volatility) (JCI) 6,300 120 Gambar 10. 5,800 100 Pergerakan dan Volatilitas IHSG (Sumber: Bloomberg) 80 5,300

60 (24/3) 3937.6 4,800 Figure 10. 40 Movement and Volatility of JCI 4,300 20 (Source: Bloomberg)

0 3,800 1-Jul 1-Jan 1-Jun 1-Oct 1-Apr 1-Feb 1-Sep 1-Dec 1-Aug 1-Nov 1-Mar 1-May

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3,881 dalam ribuan Gambar 11. (in thousands) Jumlah Investor 2,484 (Sumber: KSEI) 1,619 1,123 894 Figure 11. Total Investor (Source: Indonesia Central Securities Depository) 2016 2017 2018 2019 2020

23. OJK juga fokus untuk meningkatkan 23. OJK also focused on enhancing market integritas pasar dengan serangkaian integrity with a series of stricter policies kebijakan dan langkah-langkah and supervisory measures. With better pengawasan yang lebih tegas. Dengan market integrity, the activity of raising integritas pasar yang lebih baik, aktivitas funds through public offerings was penghimpunan dana melalui penawaran relatively large at IDR118.7 trillion with 53 umum relatif besar yaitu sebesar new issuers. This growth on the number Rp118,7 triliun dengan 53 emiten baru. of new issuers was the highest in ASEAN. Pertumbuhan emiten baru ini merupakan yang tertinggi di ASEAN.

Rp Triliun 300 (IDR Trillion) Gambar 12. 250 Penghimpunan Dana 200 157 118,7 (Sumber: OJK) 150 116 114 88 92 100 67 123 35 29 50 12 10 16 15 6 20 Figure 12. 0 Fundraising at Capital 2016 2017 2018 2019 2020 Market IPO Saham Rights Issue Surat Utang Korporasi & Sukuk Total (Source: OJK) (Stocks IPO)

INDUSTRI PERBANKAN BANKING INDUSTRY

24. Seiring dengan pembatasan sosial yang 24. With social restrictions that negatively mendorong perlambatan aktivitas di impacted the real sector, the banking sektor riil, kinerja intermediasi intermediation’s performance came perbankan mengalami tekanan yang under significant pressure. The loan that cukup signifikan. Kredit terkontraksi was contracted by -2.41% yoy was sebesar -2,41% yoy yang lebih mainly caused by inability of large disebabkan oleh korporasi besar yang corporations to operate fully, and decision

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cenderung masih belum beroperasi made by some others to lower the loan secara penuh sebagaimana sebelum balance in order to reduce the interest pandemi dan beberapa korporasi exposure in their balance sheet. memiliki kebijakan untuk mengurangi baki debet pinjaman dalam rangka mengurangi beban bunga.

16% 100.00% 14% Gambar 13.

12% 95.00% Pertumbuhan Kredit, DPK, LDR (YoY) 11.11% 10% (Sumber: OJK) 8% 90.00% 6% Figure 13. 85.00% 4% Loan, Third-Party Fund (TPF), LDR 2% 82.24% 0% -2.41%80.00% Growth -2% (Source: OJK) Jun-20 Jun-19 Jun-18 Jun-17 Oct-20 Oct-19 Oct-18 Des 20 Oct-17 Apr-20 Apr-19 Apr-18 Apr-17 Feb-20 Feb-19 Feb-18 Feb-17 Dec-19 Dec-18 Dec-17 Aug-20 Aug-19 Aug-18 -4% Aug-17 75.00%

Kredit DPK LDR (Loan) (Third Party Fund)

2,500 2,149 2,224 Gambar 14. 2,000 1,509 1,600 Kredit Baru dan Penurunan Baki 1,500 1,348 Debet 911 1,000 (Sumber: OJK) 500 - Figure 14. 2018 2019 2020 New Loan and Loan Repayment Kredit Baru Penurunan Baki Debet (Source: OJK) (New Loan) (Loan Repayment)

25. Di sektor UMKM, berbagai kebijakan 25. On the MSMEs, OJK and the stimulus yang diberikan OJK dan Government's various stimulus policy pemerintah berdampak pada stabilnya measures have led to a more stable pertumbuhan kredit UMKM dan mulai positive mtm growth of MSME loans in tumbuh positif secara mtm pada the last few months. However, the loan beberapa bulan terakhir. Namun payoffs by large debtors contributed to demikian, dampak pelunasan kredit oleh the lowered credit growth in the corporate debitur besar berpengaruh pada segment, with contraction around -3.4% penurunan pertumbuhan kredit di YoY. segmen korporasi dengan kontraksi -3,4% yoy.

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UMKM Korporasi (MSME) (Corporate) 1,120.00 3,050.00 Gambar 15.

1,110.00 3,000.00 Pertumbuhan Kredit UMKM 1,100.00 2,950.00 dan Korporasi YoY 1,088.33 1,090.00 (Sumber: OJK) 2,900.00 1,080.00 2,845.77 2,850.00 1,070.00 Figure 15. 2,800.00 1,060.00 MSME’s Loan and Corporate 1,050.00 2,750.00 Loan Growth YoY 1,040.00 2,700.00 (Source: OJK)

26. OJK juga secara aktif melakukan 26. In addition, OJK also actively monitors pemantauan terhadap penyaluran kredit loan disbursement from government dari penempatan dana pemerintah di funds placement in the State-Owned perbankan, baik di kelompok HIMBARA banks (HIMBARA), Regional sebesar Rp47,5 triliun, kelompok BPD Development Banks (BPD), and Islamic sebesar Rp16,2 triliun maupun Bank Banks amounting to IDR47.5 Trillion, Syariah sebesar Rp3 triliun, yang secara IDR16.2 Trillion, and IDR3 Trillion total telah digunakan untuk meyalurkan respectively. These funds have been kredit sebesar Rp323,8 triliun atau turned into IDR323.8 Trillion worth of memberikan leverage sebesar 4,8 kali. loans or 4.8 times leverage. Therefore, Dengan demikian, ditengah kontraksi despite the contraction of credit growth pertumbuhan kredit secara industri, across the industry, the State-Owned kredit Bank BUMN masih tumbuh banks’ credit still managed to grow by 0,62% dan BPD tumbuh 5,22%, serta 0.62%, Regional Development Banks Bank Syariah tumbuh 9,50%. (BPD) by 5.22%, and Islamic banks by 9.50%.

12.00% 10.15% 8.54% Gambar 16. 7.00% 5.22% 4.29% 0.63% Pertumbuhan Kredit Berdasarkan 2.00% (Foreign Bank) Kepemilikan (YoY)

-3.00% BPD BUMN BUSN BANK ASING (Sumber: OJK) (Regional (State-Owned (Private Bank) -8.00% Development Bank) -4.92% -5.84% Bank) Figure 16. -13.00% Loan Growth Based on Ownership -18.00% (YoY) -23.00% 2019 2020 (Source: OJK) -22.73%

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27. Upaya meningkatkan penyaluran kredit 27. The banking industry's efforts to increase ini didukung pula oleh industri the lending capability were also perbankan dengan tren penurunan suku supported with a persistent downward bunga kredit di semua jenis penggunaan trend in loan interest rates in all types of kredit terutama suku bunga kredit loans, particularly Investment loan rates investasi dan suku bunga kredit modal and working capital loan rates, which kerja turun menjadi single digit. went down to single digit. The downward Diharapkan tren penurunan suku bunga trend in interest rates is expected to ini terus berlanjut seiring dengan continue along with the repricing of bank repricing suku bunga kredit perbankan. lending rates.

Gambar 17. 12.00 10.96 Suku Bunga Kredit (Sumber: OJK) 8.22 9.00 7.73 Figure 17. 6.00 Loan Interest Rate (Source: OJK) 3.00 Jul-20 Jul-19 Jul-18 Jul-17 Jan-20 Jan-19 Jan-18 Jan-17 Sep-20 Sep-19 Sep-18 Sep-17 Nov-20 Nov-19 Nov-18 Nov-17 Mar-20 Mar-19 Mar-18 Mar-17 May-20 May-19 May-18 May-17 Modal Kerja Investasi Konsumsi (Working Capital) (Investation) (Consumption)

28. Selanjutnya, dapat kami sampaikan 28. Furthermore, we can conclude that the bahwa kebijakan stimulus yang telah stimulus policies that have been issued dikeluarkan OJK antara lain by OJK –such as loan restructuring, one- restrukturisasi kredit perbankan, pillar loan quality assessment, penilaian kualitas kredit satu pilar, postponement of Basel III reforms penundaan penerapan Basel III dan implementation, and relaxation of liquidity pelonggaran pemenuhan indikator and capital requirements—have likuiditas serta indikator permodalan, successfully provided banks with an telah dapat memberikan ruang bagi ample room to maintain their risk profile. perbankan untuk menjaga profil risikonya

29. Sejak diluncurkan 16 Maret 2020, 29. Since its launch on March 16th 2020, until sampai dengan akhir Desember 2020, the end of December 2020, the bank loan program restrukturisasi kredit restructuring program, which was given perbankan telah mencapai nilai Rp971 to 7.6 million debtors or approximately triliun diberikan kepada 7,6 juta debitur 18% of the total national loan, has atau sekitar 18% dari total kredit reached a value of IDR971 trillion. This

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perbankan. Jumlah tersebut berasal dari amount was emanated from loan restrukturisasi kredit untuk sektor restructuring in the MSME sector, which UMKM yang mencapai Rp386,6 triliun reached IDR386.6 trillion from 5.8 million berasal dari 5,8 juta debitur. Sementara debtors. As for non-MSMEs, the loan untuk non-UMKM, realisasi restructuring helped 1.8 million debtors restrukturisasi kredit mencapai 1,8 juta with the value of IDR584.4 trillion. debitur dengan nilai sebesar Rp584,4 triliun.

23%; 1,76 juta debitur Gambar 18. (1,73 million debtor 77%; Restrukturisasi kredit perbankan 5,8 juta debitur (Sumber: OJK) 5,8 million debtor

Figure 18. Bank loan restructuring UMKM Non-UMKM (Source: OJK) (SME) (Non - SME)

30. Dengan program restrukturisasi 30. With such restructuring program, the tersebut, Rasio Non-Performing Loan bank's Non-Performing Loan (NPL) gross gross perbankan dapat dijaga pada ratio was maintained at 3.06% (2019: 3,06% (2019:2,53%) atau net 0,98% 2.53%) or net NPL of 0.98% (2019: (2019: 1,19%). Capital Adequacy Ratio 1.19%). The Capital Adequacy Ratio in the (CAR) perbankan juga terjaga mencapai banking sector was also maintained at an 23,78% (2019: 23,31%). adequate level, which stood at 23.78% (2019: 23.31%).

4 Gambar 19. 3.06 NPL Perbankan 3 2.37 2.53 (Sumber: OJK) 2 1 1.19 0.98 1 Figure 19. Banking industry NPL 0 (Source: OJK) 2018 2019 Jul-052020

NPL Gross NPL Nett

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7000 23.78% 24.0% 5908.702 Gambar 20. 6000 23.8% CAR Perbankan 5000 23.6% (Sumber: OJK) 23.4% 4000 23.2% 3000 23.0% Figure 20. 2000 1404.825 22.8% Banking industry CAR 1000 22.6% (Source: OJK) 0 22.4% 2018 2019 2020

Modal ATMR CAR (Capital)

31. Sebagai dampak dari belum pulihnya 31. As a result of the credit growth that has pertumbuhan kredit di atas, maka LDR not fully recovered, Loan to Deposit Ratio juga menurun dengan tajam menjadi (LDR) also plummeted to 82.2%, sebesar 82,2%, turun signifikan dari significantly lower than 93.64% recorded tahun 2019 yang sebesar 93,64% in 2019.

95% 94.04% 93.64% Gambar 21. 90% Loan to Deposit Ratio 85% (Sumber: OJK) 82.24% 80% Figure 21. Loan to Deposit Ratio 75% (Source: OJK) Des-18 Des-19 Des-20

32. Sejalan dengan itu, likuiditas perbankan 32. Ample liquidity in the banking sector, as masih cukup memadai (ample) ditandai indicated by liquid assets which oleh alat likuid perbankan yang terus continued to increase and reached meningkat mencapai sebesar Rp2.111 IDR2,111 trillion, much higher than triliun dibandingkan dengan tahun lalu IDR1,251 trillion that was recorded last yang sebesar Rp1.251 triliun, dan Dana year; this was also followed by Third Party Pihak Ketiga yang tumbuh sebesar Fund that grew 11.11% yoy. Meanwhile, 11,11% yoy. Alat Likuid per Non-Core Liquid Assets per Non-Core Deposit and Deposit 146,72% dan Liquidity Liquidity Coverage Ratio were also Coverage Ratio 265,49%, lebih tinggi recorded at 146.72% and 265,49% dari threshold-nya. respectively, or way above the threshold.

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300% Gambar 22. 265.49% Indikator Likuiditas Perbankan 250% 209.16% (Sumber: OJK) 190.24% 200% 146.72% 150% Figure 22. Banking Liquidity Indicators 91.28% 97.61% 100% (Source: OJK)

50%

0% 2018 2019 2020

ALNCD LCR 33. Kondisi permodalan yang cukup tinggi 33. More than adequate capital and ample dan kondisi likuiditas yang ample liquidity will provide sufficient room for sebagaimana kami uraikan di atas akan further credit growth in the future. memberikan ruang yang cukup besar untuk mendorong pertumbuhan kredit ke depan.

INDUSTRI KEUANGAN NON-BANK NON-BANK FINANCIAL INDUSTRY

34. Kinerja intermediasi IKNB cukup 34. The intermediation performance of non- tertekan dimana Premi Asuransi bank financial institutions was pressured. Komersial mencapai Rp242,46 triliun The premiums of Commercial Insurance atau terkontraksi sebesar -7,34% yoy amounted to IDR242.46 trillion or (2019: 4,77% yoy). Piutang Pembiayaan suffered a -7.34% contraction YoY terkontraksi sebesar -17,1% yoy (2019: 4.77% YoY). Further, finance (2019: 3,66% yoy) yang didorong companies’ receivables were also belum pulihnya perekonomian. contracted by -17.1% YoY, due to sluggish economic growth.

350

287.4 300 274.3 242.5 250 Gambar 23. 200 186.05 185.33 Perkembangan Pendapatan Premi 156.39 150 Asuransi 102.09 (Sumber: OJK) 88.28 100 86.09 50 Figure 23. 0 Insurance Premium Income 2018 2019 2020 (Source: OJK) Asuransi Jiwa Asuransi Umum + Reas Asuransi Komersial (Life Insurance) (General Insurance + (Commercial Insurance) Reinsurance) [AUTHOR NAME] 18

15% 10% Gambar 24. 5% Perkembangan Piutang Perusahaan 0% Pembiayaan -5% (Sumber: OJK) -10% -15% -17.1% Figure 24. -20% Financing Companies Receivables Jul-17 Jul-18 Jul-19 Jul-20 Jan-17 Jan-18 Jan-19 Jan-20 Sep-17 Sep-18 Sep-19 Sep-20 Nov-17 Nov-18 Nov-19 Nov-20 Mar-17 Mar-18 Mar-19 Mar-20 May-17 May-18 May-19 May-20 (Source: OJK)

35. Di tengah tekanan tersebut, Perusahaan 35. Despite the mounting pressure, finance Pembiayaan turut serta meringankan companies attempted to ease their beban nasabahnya yang mayoritas customers’ burden, most of whom are adalah nasabah individu atau UMKM. MSMEs or individual customers. The Realisasi restrukturisasi pembiayaan realization of financing restructuring by oleh perusahaan pembiayaan sepanjang finance companies throughout 2020 tahun 2020 telah mencapai Rp189,96 reached IDR189.96 trillion, generated triliun dari 5 juta kontrak pembiayaan from 5 million financing contracts, or atau sekitar 48,52% dari total around 48.52% of the total financing. pembiayaan.

Gambar 25. Restrukturisasi Piutang Perusahaan Pembiayaan Akibat Covid-19 (Sumber: OJK) 51.48% 48.52% Figure 25. Covid-19 Financing Companies Receivable Restructuring (Source: OJK)

Restrukturisasi Pembiayaan akibat Covid-19 Non-Restrukturisasi (Covid-19 Restructurisation Financing) (Non Restructurisation Financing)

36. Profil risiko IKNB masih terjaga dalam 36. The Non-Bank Financial Industry (NBFI) level yang manageable, terlihat dari risk profile was maintained at a permodalan lembaga yang sampai saat manageable level, as evidenced by the ini relatif terjaga pada level yang adequate capital grade. Risk-Based memadai. Risk-Based Capital (RBC) Capitals (RBC) of Life Insurance and industri asuransi jiwa dan asuransi General Insurance industry stood at umum masing-masing sebesar 540% 540% and 354% respectively, or

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dan 354%, jauh di atas ambang batas significantly above the regulatory ketentuan sebesar 120%. Begitupun threshold of 120%. Likewise, the Gearing Gearing Ratio Perusahaan Pembiayaan Ratio of Finance Companies was yang tercatat sebesar 2,19%, jauh di recorded at 2.19%, or far below the bawah maksimum 10%. maximum of 10%.

Gambar 26. Perkembangan RBC Perusahaan 540% Asuransi 354% (Sumber: OJK)

Figure 26. Risk-Based Capital (RBC) of Jul-20 Jul-19 Jul-18 Jan-20 Jan-19 Jan-18 Sep-20 Sep-19 Sep-18 Nov-20 Nov-19 Nov-18 Mar-20 Mar-19 Mar-18 May-20 May-19 May-18 Insurance Companies Asuransi Jiwa Asuransi Umum (Source: OJK)

4.00 Gambar 27. 2.99 2.61 3.00 2.19 Perkembangan Rasio Gearing 2.00 Perusahaan Pembiayaan (Sumber: OJK) 1.00

0.00 Figure 27. 2018 2019 2020 Financing Companies’ Gearing Ratio (Source: OJK)

37. Sementara itu, di tengah berbagai upaya 37. Amidst various efforts to minimize the meredam dampak pandemi ini terhadap pandemic impact on the NBFI kinerja IKNB, Kami tetap menjalankan performance, we continued to carry out agenda reformasi IKNB secara bertahap gradual reforms in the NBFI sector, taking dengan mempertimbangkan dampak into account the pro-cyclical impact on pro-cyclical terhadap perekonomian. economy. We issued numerous policies Pada tahun 2020 telah dikeluarkan covering risk management and good berbagai kebijakan mengenai risk corporate governance. management dan good corporate governance.

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ARAH KEBIJAKAN KE DEPAN OJK’s FUTURE POLICY DIRECTION

Bapak Presiden dan Bapak Wakil His Excellency Mr. President, Mr. Vice Presiden yang kami muliakan dan President and esteemed ladies and hadirin sekalian yang berbahagia, gentlemen,

38. Kami menyadari, dalam jangka pendek 38. We realize that various challenges are still di tahun 2021 ini masih akan diwarnai in the horizon this coming year, among dengan berbagai tantangan, them are: diantaranya: (i) weak demand for goods and services (i) masih lemahnya permintaan akan due to limited public mobility and barang dan jasa akibat dari weak purchasing power; terbatasnya mobilitas masyarakat (ii) accelerating responses to the Covid- dan lemahnya daya beli masyarakat; 19 pandemic. (ii) percepatan penanganan pandemi (iii) strong necessity and momentum that Covid-19; dan calls for digitalization to support (iii) adanya momentum kebutuhan economic and financial activities. digitalisasi untuk mendukung aktivitas ekonomi dan keuangan.

39. Selain itu, secara struktural, industri jasa 39. Apart from that, structurally, our financial keuangan kita juga masih dihadapkan services industry still faces a number of pada berapa tantangan, diantaranya: (i) challenges, including: (i) limited daya saing dan skala ekonomi yang competitiveness and economies of scale; masih terbatas; (ii) masih dangkalnya (ii) shallow financial markets; (iii) the need pasar keuangan kita; (iii) kebutuhan for accelerating digital transformation in akan percepatan transformasi digital di the financial services sector; (iv) sektor jasa keuangan; (iv) inadequate development of the Sharia pengembangan industri keuangan Financial Industry; and (v) inadequate syariah yang belum optimal; dan (v) Financial Literacy and Inclusion. ketimpangan literasi dan inklusi keuangan.

40. Berbagai tantangan tersebut di atas, 40. The challenges mentioned above were menjadi pertimbangan kami dalam taken into consideration and have menyusun prioritas dan arah kebijakan become our basis for setting our priorities OJK ke depan. and future directions.

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41. Prioritas Pertama. Kebijakan dalam 41. First Priority. Policies to Support National mendukung program Pemulihan Economic Recovery Program.

Ekonomi Nasional.

42. Dalam upaya memberikan ruang lebih 42. In an effort to create a bigger room for lanjut bagi dunia usaha dan sektor jasa both businesses and financial services keuangan untuk dapat bangkit kembali sector to survive and recover from the ditengah pandemi ini, kebijakan economic slowdown due to pandemic. restrukturisasi kredit/pembiayaan bagi We have extended the restructuring debitur terdampak Covid-19 telah kami policy applied to debtors affected by the perpanjang hingga Maret tahun 2022. pandemic until March 2022. Incentives Insentif bagi UMKM termasuk subsidi offered for MSMEs, including interest bunga dari Pemerintah akan terus subsidies from the Government, will difasilitasi, demikian juga program continue to be facilitated, as will the penjaminan bagi kredit UMKM dan guarantee program for MSME and Korporasi. Selain itu, kami juga corporate loans. In addition, we have menunda sementara penerapan temporarily postponed the beberapa standar internasional implementation of several international standards.

43. Di tahun 2021, kami akan mengeluarkan 43. In 2021, additional stimulus policies to kebijakan stimulus tambahan untuk promote national economic recovery will mendorong pemulihan ekonomi also be rolled out: nasional: a. First, providing a sovereign status for a. Pertama, memberikan status Sovereign Wealth Fund established sovereign bagi Lembaga Pengelola under the Omnibus Law on Job Investasi (sovereign wealth fund) Creation, which is envisioned to be a yang dibentuk berdasarkan game changer in the country’s journey Undang-Undang Cipta Kerja to economic recovery. sebagai salah satu game changer b. Second, temporary and measurable dalam pemulihan ekonomi nasional. policies relaxation, including: b. Kedua, relaksasi kebijakan secara - Allowing debtors to restructure temporer dan terukur, antara lain: credit/recurring financing during - Debitur dapat melakukan the relaxation period so long as restrukturisasi kredit/ they have business prospects pembiayaan berulang selama (living will). In the restructuring periode relaksasi sepanjang process, debtors with business masih memiliki prospek usaha prospects will not be subject to (living will). Dalam proses excessive fees, considering the fact

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restrukturisasi tersebut, debitur that the debtors have business tidak dikenakan biaya yang tidak prospects despite being affected wajar/ berlebihan mengingat by Covid-19. It should be pada dasarnya debitur masih understood that this relaxation of memiliki prospek usaha namun the restructuring rules act as a terkena dampak pandemi. Perlu measurable win-win solution to dipahami bahwa relaksasi aturan prevent deadlock. restrukturisasi harus dipandang - Reducing the weight of credit risk sebagai kebijakan yang win-win (RWA) from relaxation applied to: solution dan terukur, sehingga 1. Property Loans/Financing, and tidak menimbulkan deadlock. 2. Motor Vehicle Credit/Financing. - Penurunan bobot risiko kredit (ATMR) dari relaksasi yang This policy aims to boost sebelumnya telah diberikan bagi: consumption, to support MSMEs and to increase credit/financing 1) Kredit/Pembiayaan Properti, distribution, as well as to support the dan “1 Million House” Government 2) Kredit/Pembiayaan program and to respond to the impact Kendaraan Bermotor. of job termination. Hal ini dimaksudkan untuk - Adjusting regulations related to mendorong konsumsi, UMKM dan credit/financing distribution to the sekaligus meningkatkan penyaluran health sector to respond to Covid-19 kredit/pembiayaan dan mendukung through: program Pemerintah “Sejuta (1) Loosening the Maximum Limit of Rumah”, serta penanganan dampak Credit (BMPK), and PHK. (2) Reducing the weight of credit risk - Menyesuaikan peraturan yang (ATMR). terkait dengan penyaluran kredit/pembiayaan ke sektor kesehatan dalam rangka penanganan pandemi Covid-19, yaitu: (1) Pelonggaran Batas Maksimum Pemberian Kredit, dan (2) Penurunan bobot risiko kredit (ATMR).

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44. Kami juga meyakini pemulihan ekonomi 44 We also believe that a gradual and secara bertahap dan berkelanjutan di . sustainable economic recovery in the daerah-daerah pada gilirannya akan regions will in turn support more solid and menopang pemulihan ekonomi nasional more expeditious national economic yang lebih solid dan cepat. Untuk itu, recovery. To that end, we will also kami juga akan terus mempermudah continue to simplify and accelerate dan mempercepat akses pembiayaan access to finance for business actors by bagi pelaku usaha dengan menyediakan providing alternative financing for MSMEs alternatif pembiayaan bagi UMKM, baik –be it banking, capital market or finance nasabah dari Perbankan, Pasar Modal companies’ customers—and by stepping maupun lembaga pembiayaan dan juga up digitalization in various economic and mempercepat digitalisasi di berbagai financial activities that the public and aktivitas ekonomi dan keuangan businesses are engaged in. masyarakat dan pelaku usaha.

45. Pilot project KUR Klaster yang telah 45. We will expand the People’s Business berhasil diterapkan di beberapa daerah Loan (KUR) Cluster pilot project, which seperti di Desa Sendang Biru-Jawa has been successfully implemented in Timur, Desa Tempuran-Lampung, dan Sendang Biru Village-Malang, Tempuran Desa Karang Sari-Sumatera Selatan Village-Lampung, and Karang Sari akan kami perluas untuk diterapkan ke Village-South Sumatra, to other regions daerah-daerah lain melalui optimalisasi by optimizing the role of the Regional peran Tim Percepatan Akses Keuangan Financial Access Acceleration Team Daerah. (TPKAD).

46. Prioritas Kedua, Penguatan Ketahanan 46. Second Priority, Strengthening the dan Daya Saing Sektor Jasa Keuangan Resilience and Competitiveness of the untuk antisipasi persaingan di regional Financial Services Sector to anticipate dan global. regional and global competition.

47. Kami akan mempercepat konsolidasi di 47. We will accelerate the consolidation of industri jasa keuangan terutama di the financial services industry, especially industri Perbankan, Asuransi dan in the banking, insurance and finance Perusahaan Pembiayaan agar lebih companies to promote their resilience resilient dan memiliki kapasitas yang and ensure sufficient capacity in memadai untuk mendukung supporting the national economy. In perekonomian nasional. Selama tahun 2020, one merger and five acquisitions 2020, telah disetujui 1 permohonan of Commercial Banks have been merger Bank Umum dan 5 proses approved, as well as 17 Rural Banks

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akuisisi Bank Umum oleh investor consolidation process has been strategis serta 17 permohonan completed. This will be continued by konsolidasi BPR. Hal ini akan dilanjutkan improving ease and acceleration of di tahun 2021 dengan memberikan licensing and other regulatory support kemudahan dan percepatan proses needed, including by gradually increasing perizinan serta dukungan pengaturan minimum capital. yang diperlukan termasuk peningkatan

permodalan minimum secara bertahap.

48. Selanjutnya, kami juga mengarahkan 48. Further, we urge the industry to continue agar industri terus memperhatikan to pay close attention to its capital kecukupan permodalannya diantaranya adequacy, including through establishing untuk pembentukan tambahan additional Allowance for Impairment Cadangan Kerugian Penurunan Nilai Losses (CKPN) to anticipate deteriorating (CKPN) untuk mengantisipasi credit quality. penurunan kualitas kredit/pembiayaan

49. Kami juga akan memperkuat penerapan 49. We will strengthen the implementation of tata kelola, manajemen risiko dan governance, risk management and market conduct. OJK akan mendorong market conduct. OJK will encourage Lembaga keuangan untuk financial institutions to give high regard to mengedepankan keterbukaan informasi, information disclosure; implement risk menerapkan kewajiban sertifikasi management certification obligations for manajemen risiko bagi pengurus dan managers and staff, especially in the NBFI pegawai LJK khususnya di IKNB, dan sector; refine expertise and practice menyempurnakan standar keahlian, standards, as well as code of ethics. standar praktik, serta kode etik.

50. Kami juga akan melanjutkan reformasi di 50. We will also continue our reforms in the sektor IKNB dan Pasar Modal non-bank financial industry and capital sebagaimana harapan Bapak Presiden. market sectors as expressed by the Periode pemulihan ekonomi nasional di President. We believe that the period of tahun 2021 adalah momentum yang national economic recovery in 2021 is the tepat untuk melaksanakan hal tersebut. perfect moment to implement this. We Reformasi IKNB akan dilakukan dengan will continue reforming the non-bank mengeluarkan berbagai kebijakan financial industry by issuing various policy antara lain Batasan Investasi dan reforms, including Investment Limits and Penyediaan Dana Besar, Provision of Large Funds, Refining Capital Penyempurnaan Aturan Permodalan,

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Penetapan Status dan Tindak Lanjut Regulations, Determining Status and Pengawasan (Exit Policy). Supervisory Follow-Up (Exit Policy).

51. Dengan sektor jasa keuangan yang 51. With an increasingly integrated financial semakin terintegrasi baik dari sisi services sector in terms of ownership, kepemilikan, produk, maupun kanal products and distribution channels, we distribusi, perlu dilakukan berbagai will take several initiatives so as to narrow upaya untuk mempersempit regulatory the regulatory and supervisory gaps, and and supervisory gap guna menghindari thereby minimize the risks arising from regulatory arbitrage, meningkatkan level regulatory arbitrage practices, improve playing field, dan persaingan usaha the level of playing field, and promote yang sehat. healthy business competition.

52. Untuk itu, pengawasan Terintegrasi 52. Therefore, we will strengthen the Lintas Sektor dan Konglomerasi Integrated Cross-Sector and Financial Keuangan akan terus dikembangkan, Conglomerate supervision, among antara lain melalui koordinasi others, through the coordination of pengawasan lintas sektor dan supervisory activities across financial pengawasan konglomerasi keuangan sectors and a comprehensive supervision yang lebih menyeluruh sehingga dapat of financial conglomerates to conduct melakukan surveillance terhadap surveillance to external potential risks that potensi risiko yang berasal dari luar may have impact on the conglomerates sektor jasa keuangan terhadap (risk-wide assessment). To strengthen its keseluruhan konglomerasi (risk-wide legal basis, OJK supports the assessment). Sebagai upaya untuk Government in drafting laws and memperkuat landasan hukumnya, OJK regulations governing Financial Holding mendukung Pemerintah menyusun Companies. peraturan perundang-undangan yang mengatur Financial Holding Company.

53. Prioritas Ketiga, Pengembangan 53. Third Priority, Developing Financial Ekosistem Sektor Jasa Keuangan untuk Services Sector Ecosystem to contribute bisa lebih kontributif kepada stabilitas further to stability and growth by boosting dan pertumbuhan dengan the role of the financial services sector to meningkatkan peran sektor jasa support priority economic sectors, keuangan untuk mendukung sektor MSMEs, job creation and regional ekonomi prioritas, UMKM, penciptaan development. lapangan kerja dan pembangunan daerah.

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54. Pengembangan sektor ekonomi proritas 54. Developing priority economic sectors will dilakukan dengan melanjutkan be conducted by continuing the efforts to kebijakan pengembangan pasar modal develop our capital market through dalam rangka pendalaman pasar deepening the market and enhancing its keuangan untuk mendukung ability to finance the country’s pembiayaan pembangunan. Kami akan development. We will encourage the mendorong pengembangan basis enhancement of our retail and domestic investor ritel dan domestik dengan investors base by facilitating the issuance memfasilitasi penerbitan berbagai Efek of various securities and developing dan pengembangan instrumen derivatif. derivative instruments.

55. Melengkapi upaya ini, OJK akan 55. This effort will be complemented by senantiasa berupaya untuk continuously striving to enhance market meningkatkan market integrity sebagai integrity to increase investor’s upaya untuk meningkatkan confidence. It is hoped that the effort on kepercayaan investor. Pengembangan expanding retail investors will be investor ritel tentunya memerlukan supported by various parties and that dukungan dari berbagai pihak dan there will be no distortion in the process. diharapkan tidak terdapat distorsi dalam prosesnya.

56. Selanjutnya, kami akan mengakselerasi 56. Further, we will expedite the development pengembangan infrastruktur pasar of digital-based market infrastructure modal berbasis digital seperti efisiensi such as primary market efficiency pasar primer melalui e-IPO, e-voting through e-IPO, e-voting and the presence dan hadirnya market maker pada of market makers in the secondary secondary market serta pengembangan market as well as developing Infrastruktur Central Counterparty infrastructure of Central Counterparty Clearing Over the Counter (CCP OTC) Clearing Over the Counter (CCP OTC) Derivatif. Derivative.

57. Sedangkan dalam rangka mendorong 57. In order to promote MSMEs’ development pengembangan UMKM dan penciptaan and job creation, we urge all financial lapangan kerja, kami akan mengarahkan services institutions to expand their seluruh LJK untuk memperluas layanan services to MSMEs, including through the kepada UMKM diantaranya melalui People's Business Loan (KUR) with a Kredit Usaha Rakyat (KUR) dengan cluster scheme, increasing access to skema Klaster, meningkatkan akses MSME financing through capital market, pembiayaan UMKM melalui pasar modal particularly by the use of acceleration

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terutama dengan cara pencatatan boards, utilizing Security Crowdfunding, dalam papan akselarasi, pemanfaatan accelerating the process of Electronic Security Crowdfunding, mempercepat Public Offering Registration Statements proses Pernyataan Pendaftaran for Issuers with small or medium scale Penawaran Umum Emiten dengan aset assets, and continuously optimizing skala kecil atau menengah secara special MSME programs such as Bank elektronik serta terus mengoptimalkan Wakaf Mikro and Micro Insurance. program khusus UMKM seperti Bank Wakaf Mikro dan Asuransi Mikro.

58. Sebagai upaya meningkatkan 58. To boost regional economic pembangunan ekonomi daerah, development, we will focus on the terbitnya Obligasi Daerah di tahun 2021 issuance of Municipal Bonds this year, juga menjadi fokus kami sebagai which will serve as an alternative to alternatif pembiayaan pembangunan financing infrastructure development in infrastruktur di daerah. Terbitnya the regions. The recently issued Omnibus Undang-undang Cipta Kerja telah Law for Job Creation has provided rooms memberikan ruang bagi lebih mudah to issue Municipal Bonds more easily and dan cepat dalam penerbitan Obligasi quickly. We are optimistic that we can Daerah ini. Kami optimis di tahun 2021 launch a pilot project for the issuance of ini pilot project penerbitan Obligasi Municipal Bonds in 2021, with the Daerah dapat diluncurkan dengan support from Ministry of Home Affairs, dukungan dari Kementerian Dalam Ministry of Finance, Local Governments, Negeri, Kementerian Keuangan, and Regional Legislative Councils Pemerintah Daerah dan DPRD. (DPRD).

59. Mendukung ekspansi kegiatan usaha 59. Supporting the expansion of Financial lembaga jasa keuangan melakukan Services Institutions in conducting multi- multi-activities business yang lebih activity business, which is universal and universal dan berbasis digital untuk digital-based, to respond to the needs for menjawab kebutuhan produk dan more varied and comprehensive financial layanan keuangan yang lebih bervariasi, products and services, increase komprehensif, meningkatkan daya competitiveness of financial service saing lembaga jasa keuangan di tingkat institutions at the regional level, and regional dan global, serta mendorong promote national economic growth. pertumbuhan perekonomian nasional.

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60. Mengakselerasi perluasan akses 60. Accelerating the enhancement of keuangan dan meningkatkan literasi financial access, increasing public’s keuangan masyarakat serta financial literacy, and strengthening memperkuat perlindungan konsumen consumer protection –by bringing the dengan mendekatkan masyakarat dan community and business actors, pelaku usaha khususnya UMKM pada especially MSMEs, closer to financial produk dan layanan keuangan akan products and services—will remain our menjadi fokus kebijakan di tahun 2021 policy focus in 2021. This effort aims at untuk mencapai tingkat inklusi achieving the target of 90% financial keuangan yang dicanangkan Presiden inclusion level by 2024, which was set by sebesar 90% di tahun 2024, khususnya the President, especially in areas with low di beberapa daerah dengan tingkat levels of financial inclusion. inklusi keuangan rendah.

61. Kami akan mengintegrasikan berbagai 61. We will integrate various programs to program perluasan akses keuangan enable financial access for unbankable bagi masyarakat pelaku usaha yang enterpreneurs, both from financing and tergolong unbankable, baik dari sisi savings standpoint. From the financing pembiayaan diantaranya Bank Wakaf standpoint, the programs include Bank Mikro, Laku Pandai, Mekaar, UMi yang Wakaf Mikro, Laku Pandai (OJK diintegrasikan dengan Kredit Usaha branchless banking program), Mekaar Rakyat (KUR), Program Kredit/ (Membina Ekonomi Keluarga Sejahtera/ Pembiayaan Melawan Rentenir Fostering a Prosperous Family Economy), (K/PMR), dan pengembangan UMi (Ultra Mikro), which are also kredit/pembiayaan generic model integrated with people's Business Loan program sesuai dengan karakteristik (KUR), Credit/Financing against Loan usaha/daerah tertentu. Dari sisi Sharks (K/PMR), and the development of tabungan dilakukan dengan mewajibkan generic credit/financing models in setiap pelajar SMP memiliki rekening accordance with the characteristics of tabungan berbasis digital melalui certain businesses /regions. From savings program Satu Rekening Satu Pelajar standpoint, this is conducted by requiring (Kejar). Upaya ini akan didukung all junior high school students to own dengan inisiatif edukasi keuangan digital-based savings accounts through masyarakat yang terus kami lakukan di one student one account program/Satu masa pandemi dengan bantuan Rekening Satu Pelajar (Kejar). This effort teknologi melalui pengembangan will be supported by various financial Learning Management System (LMS). education initiatives that will be carried out utilizing technology during the pandemic through the development of Learning Management System.

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62. Berbagai upaya peningkatan inklusi dan 62. Numerous efforts to increase financial literasi keuangan dikoordinasikan oleh inclusion and literacy will be coordinated Tim Percepatan Akses Keuangan by the Regional Financial Access Daerah yang kami harapkan di tahun Acceleration Team (TPAKD) which we 2021 ini seluruh Provinsi dan hope, as directed by the President, to be Kabupaten/Kota telah memiliki TPAKD available in all Provinces and City sebagaimana arahan Bapak Presiden. Regencies in 2021.

63. Selain itu, kewajiban industri keuangan 63. Furthermore, we urge the financial untuk memperhatikan aspek industry to pay closer attention to perlindungan konsumen akan kami consumer protection. This year, we will perkuat. Tahun ini kami akan me-revisit revisit market conduct supervision linked proses pengawasan market conduct to the product cycle stage as well to the yang dikaitkan dengan tahapan product licensing process for financial life cycle dan dihubungkan dengan products/services. proses perizinan produk/layanan keuangan.

64. Penguatan perlindungan konsumen ini 64. This consumer protection enhancement akan dilengkapi dengan tersedianya will be complemented by stronger market Lembaga Alternatif Penyelesaian conduct supervision, an integrated Sengketa (LAPS) terintegrasi dan Alternative Dispute Resolution Institution hadirnya Aplikasi Portal Perlindungan (LAPS) in place, and the initiation of a Konsumen (APPK) untuk Consumer Protection Portal Application mempermudah permintaan informasi (APPK), which will ease the process of dan pengaduan berbasis digital yang requesting information and submitting terintegrasi langsung dengan lembaga digital-based complaints, as the Portal keuangan dan LAPS serta dilengkapi will be directly integrated with both fitur trackable dan edukasi. financial institutions and LAPS, and equipped with trackable features and education.

65. Di Pasar Modal, upaya peningkatan 65. In the capital market, efforts on improving perlindungan konsumen (investor) consumer protection will be carried out by diantaranya dilakukan melalui implementing disgorgement and implementasi prinsip disgorgement dan disgorgement fund principles, which are disgorgement fund yang merupakan remedial action mechanisms. mekanisme remedial action.

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66. Kami mengapresiasi berbagai pihak 66. We appreciate various parties who have yang telah mendukung implementasi supported the implementation of the Roadmap Sustainable Finance tahap I Sustainable Finance Roadmap Phase I dengan terbitnya berbagai instrumen through issuance of various financial keuangan yang ramah lingkungan dan instruments that are environmentally and sosial seperti Green Bonds, Green socially friendly such as Green Bonds, Sukuk maupun inovasi pembiayaan Green Sukuk, as well as through melalui Blended Finance. innovative financing such as Blended Finance.

67. Melanjutkan inisiatif ini, kontribusi 67. Going forward, Financial Services Sector Sektor Jasa Keuangan dalam is urged to contribute to the achievement mendukung tercapainya SDGs melalui of SDGs through Sustainable Finance in a Sustainable Finance akan terus comprehensive and conducive didorong dengan terciptanya ekosistem sustainable finance ecosystem, which will sustainable finance yang lebih be specified in the Sustainable Finance komprehensif dan kondusif di dalam Roadmap Phase II for 2021-2025. Roadmap Sustainable Finance Tahap II tahun 2021-2025.

68. Peningkatan kapasitas SDM di sektor 68. Improving human resources capacity in jasa keuangan akan dilakukan melalui line with the development in the financial penyusunan Cetak Biru Pengembangan services sector through the Blueprint of SDM Sektor Jasa Keuangan 2021-2025 Human Resources Development for the sebagai upaya untuk memberikan arah Financial Services Sector 2021-2025 as pengembangan SDM SJK melalui an effort to provide direction for the kolaborasi yang kuat antara OJK, human resources development of perguruan tinggi dan industri jasa financial services sector through strong keuangan. Hal ini bertujuan untuk collaboration and synergy among OJK, mewujudkan visi SDM SJK yang academics, and the financial services profesional, berintegritas, memiliki industry. The objective is to realize a kompetensi tinggi, dan berdaya saing vision of financial institutions’ human global. Di tahun 2021, OJK akan fokus resources that are professional, highly pada program capacity building dan competent, upholding integrity and menyusun Standarisasi Kompetensi globally competitive. In 2021, OJK will Kerja Nasional Indonesia (SKKNI) serta focus on capacity building programs and Kerangka Kualifikasi Kerja Nasional compiling the Indonesian National Work Indonesia (KKNI). Competency Standards (SKKNI) and the Indonesian National Work Qualification Framework (KKNI).

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69. Prioritas Keempat. Akselerasi 69. Fourth Priority, Accelerating Digital Transformasi Digital di Sektor Jasa Transformation in the Financial Services Keuangan untuk memberikan ruang Sector to provide more rooms to enhance competitiveness yang lebih besar. competitiveness.

70. Pandemi Covid-19 ini telah 70. The Covid-19 pandemic has accelerated mengakselerasi digitalisasi di sektor jasa digitalization in the financial services keuangan seiring dengan bergesernya sector, in line with shifting lifestyle and gaya hidup dan pola konsumsi people's consumption patterns that are masyarakat yang semakin erat dengan getting closer to the use of technology penggunaan teknologi termasuk including their financial products ekspektasi terhadap produk dan jasa expectation. keuangan.

71. Untuk itu, kami mendorong industri jasa 71. Therefore, we encourage the financial keuangan untuk melakukan services industry to carry out digital transformasi digital baik dari proses transformation, from its business bisnis, distribution channel sampai processes to distribution channels, as dengan struktur kelembagaannya well as its institutional structure by dengan memperluas kesempatan bagi expanding opportunities for the financial industri jasa keuangan untuk services industry to run digital-based menjalankan aktivitas berbasis digital activities with adequate risk dengan penerapan manajemen risiko management. To support this effort, yang memadai. Mendukung upaya ini, OJK’s approval process for digital-based proses persetujuan produk jasa financial services products will be keuangan berbasis digital akan kami accelerated and and integrated. percepat dan integrasikan.

72. Di sisi lain, perizinan bagi lembaga jasa 72. On the other hand, licensing for digital keuangan digital seperti digital bank financial service institutions, such as yang akan beroperasi di Indonesia, akan digital banks, that will operate in diakomodir dengan tetap mengacu Indonesia will be accommodated, kepada ketentuan yang berlaku dengan provided that they are in conformity with beberapa tambahan persyaratan applicable regulations and other lainnya, serta mempertimbangkan requirements, and take into account their dampaknya terhadap stabilitas sistem impact on financial system stability and keuangan dan kontribusinya terhadap contribution to the national economy. perekonomian nasional.

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73. Kami akan meninjau kembali tingkat 73. On P2P Lending, we will review the permodalan minimum bagi P2P Lending minimum level of capital to improve untuk memiliki kapasitas yang lebih baik capacity to cover risks and support its dalam meng-cover risiko dan business expansion. Moreover, we will mendukung ekspansi usahanya. Selain start implementing a Fit & Proper Test for itu, tahun ini kami juga akan P2P Lending company management this menerapkan Fit & Proper Test bagi year. In the capital market sector, we pengurus perusahaan P2P Lending. Di rolled out an alternative financing from sektor Pasar Modal, kami telah the security crowdfunding platform, memfasilitasi alternatif pembiayaan dari which was launched at the Indonesian platform security crowdfunding yang Exchange Opening event by the telah diresmikan pada Pembukaan Coordinating Minister for Economic Bursa lalu oleh Bapak Menteri Affairs. This digital platform will open Koordinator Bidang Perekonomian. financial access for millennials as well as Platform digital ini akan membuka akses SMEs in regional areas to engage in the bagi generasi milenial dan juga UKM di capital market transactions. daerah-daerah untuk berinteraksi di pasar modal

74. Selain itu, dalam menyikapi semakin 74. Furthermore, in response to the rapid pesatnya pertumbuhan start-up Fintech growth of Fintech start-ups, both in yang semakin beragam, kami telah various business models and numbers, menginisiasi pelaksanaan regulatory we have put in place regulatory sandbox sandbox dengan menerapkan prinsip and applied the principles of ‘same same business, same risks, and same business, same risks, and same rules’ to rules untuk meminimalkan terjadinya minimize regulatory arbitrage. The regulatory arbitrage. Penerapan prinsip application of this principle will also ini juga akan memperhatikan tingkat consider the level of materiality for the materialitasnya bagi sektor jasa financial services sector. keuangan.

75. Pengembangan ekosistem digital 75. We will continue to develop an integrated terintegrasi dari hulu sampai hilir digital ecosystem from upstream to termasuk penyediaan alternatif downstream, which includes from pembiayaan sampai dengan pemasaran providing alternative financing to produk usahanya bagi UMKM dan ultra marketing business products, in order to mikro secara digital akan terus kami support the empowerment of ultra-micro perluas, diantaranya digitalisasi proses and MSME businesses; an effort that KUR sebagaimana pilot project-nya started with digitizing People’s Business telah sukses dilakukan di Bali, Loan process as successfully conducted

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digitalisasi Bank Wakaf Mikro, dan juga in a pilot project in Bali, digitizing Bank pengembangan lebih lanjut platform Wakaf Mikro and providing an integrated marketplace digital yang disebut and developing a digital marketplace “UMKM-MU” untuk membuka akses platform called “UMKMMU” to open pasar dan pembiayaan di daerah- market access and financing for daerah yang usahanya terkendala akibat businesses in areas affected by the pandemi. Hal ini juga akan didukung pandemic. This will also be supported by dengan kolaborasi antara industri BPR collaboration between the Rural Banks dengan P2P Lending melalui skema and P2P Lending through channeling and channeling dan referral. referral mechanisms.

76. Selanjutnya, peningkatan nilai tambah 76. Subsequently, increasing added value dan daya saing produk keuangan and competitiveness of Islamic finance. It syariah juga menjadi perhatian kami. is hoped that the role of the Sharia Industri keuangan syariah diharapkan financial industry, in supporting national dapat berperan optimal dalam economic growth, can be optimized. This mendukung pertumbuhan ekonomi will be achieved through integrating the nasional. Hal ini akan kami wujudkan financial services sector into the halal dengan melakukan integrasi sektor jasa industry and the sharia economic keuangan dalam pengembangan ecosystem. industri halal dan ekosistem ekonomi syariah.

77. Cita-cita kita bersama untuk memiliki 77. The consolidation of state-owned Sharia Bank Syariah berskala ekonomi besar Banks makes our shared goal of having semakin dekat dengan adanya an enormous economic Islamic Bank konsolidasi Bank Syariah milik negara. seem attainable. In the future, we hope Kedepannya kami berharap Bank that Bank Syariah Indonesia can become Syariah Indonesia dapat menjadi bank a Buku IV (Tier IV) bank and contribute Buku IV dan berkontribusi optimal bagi effectively to the Indonesian economy. perekonomian Indonesia. Langkah Other Sharia financial industry players are konsolidasi ini juga perlu diikuti oleh also encouraged to follow suit. pelaku industri keuangan Syariah lainnya.

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78. Prioritas Kelima. Penguatan kapasitas 78. Fifth Priority. Strengthening internal internal melalui penyempurnaan capacity through improvements in pendekatan dan infrastruktur supervisory approaches and pengawasan. Berbagai upaya yang kami infrastructure. Numerous efforts that we sampaikan di atas tentunya perlu conveyed earlier must be supported by didukung dengan peningkatan improving internal capacity of OJK in kapasitas internal OJK dalam carrying out its duties in regulating, melakukan pengaturan, pengawasan supervising the financial sector, and dan perlindungan konsumen. promoting consumer protection.

79. Dalam memperkuat infrastruktur 79. In terms of strengthening the supervisory pengawasan, kami secara intensif infrastructure, we intensively streamline melakukan perampingan proses bisnis our process and make massive use of dan pemanfaatan teknologi secara technology in the supervisory and efektif yang kami lakukan melalui inisiatif licensing processes through business business process re-engineering. process re-engineering initiatives. With Melalui inisiatif ini, kapasitas this initiative, capacity for supervision and pengawasan dan surveillance nantinya surveillance will be supported by akan didukung dengan Integrated Data Integrated Data Management. We will Management. Penerapan OJK-BOX expand the implementation of OJK-BOX (OBOX) yang telah dilakukan pada Bank (OBOX), which has been used by Umum akan dilanjutkan penerapannya Commercial Banks, to Rural Banks/ pada BPR/BPRS secara bertahap (pilot Sharia Rural Banks, starting with a pilot project). Tentunya hal ini juga project. This will certainly need a membutuhkan komitmen dari para commitment from financial services pelaku di industri jasa keuangan dalam industry players in aligning the penyelarasan sistem informasinya. information system.

80. Selain itu, kami juga berkomitmen tinggi 80. In addition, we are also highly committed untuk menjaga penerapan tata kelola to maintaining the implementation of yang baik dalam setiap operasional good governance in all of OJK’s OJK. Diraihnya dua penghargaan dari operational activities. We have won two Komisi Pemberantasan Korupsi (KPK) awards from the Corruption Eradication sebagai instansi dengan Sistem Commission (KPK) for Best Gratification Pengendalian Gratifikasi Terbaik Control System in the category of kategori kementerian dan lembaga serta ministries and institutions, and Best State penghargaan Pengelolaan Laporan Officials Wealth Report Management Harta Kekayaan Penyelenggara Negara (LHKPN); both awards are a testament to (LHKPN) Terbaik 2020 adalah bukti dari our strong commitment in implementing kesungguhan komitmen kami. good governance.

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81. Penguatan governance di OJK akan 81. Additionally, we will strengthen kami tingkatkan dengan menerapkan governance in our institution by dan mengembangkan Sistem implementing and developing an Anti- Manajemen Anti Penyuapan sesuai Bribery Management System in standar SNI ISO 37001. Kami compliance with the SNI ISO 37001 mengapresiasi komitmen dari industri standard. We appreciate the commitment jasa keuangan untuk juga menerapkan from the financial services industry to also standar Sistem Manajemen Anti implementing this Anti-Bribery Penyuapan ini. Management System standard.

PROYEKSI PEREKONOMIAN DAN INDONESIA’S ECONOMIC PROJECTION SEKTOR JASA KEUANGAN AND FINANCIAL SERVICES SECTOR INDONESIA 2021 2021

Bapak Presiden dan Bapak Wakil His Excellency Mr. President and Mr. Vice Presiden yang kami muliakan dan President, esteemed ladies and hadirin sekalian yang berbahagia gentlemen,

82. Dengan fokus kebijakan strategis yang 82. All the strategic policy focus that we kami sampaikan tadi dan didukung illustrated earlier will need to be dengan sinergi kebijakan antara supported by policy synergies with the Pemerintah, Bank Indonesia dan Government, Bank Indonesia, and other pemangku kepentingan lainnya serta stakeholders, as well as considering the mempertimbangkan tantangan dan challenges lie ahead and current kondisi perekonomian saat ini dimana economic conditions, where it was Pemerintah memproyeksikan projected by the Government that pertumbuhan ekonomi 2021 sebesar economic growth in 2021 is estimated to 4,5%- 5,5%, kredit perbankan di 2021 be 4.5% - 5.5%; bank lending in 2021 is diperkirakan meningkat pada kisaran estimated to increase in the range of 7.5 7,5% ±1% yoy, seiring dengan kembali ± 1% YoY, in line with the resurgence in meningkatnya aktivitas ekonomi, economic activity, public spending, and belanja masyarakat dan investasi. investment. Accordingly, Third Party Sejalan dengan itu, Dana Pihak Ketiga Funds are expected to grow solidly in the diperkirakan akan tumbuh solid di range of 11 ± 1% YoY in 2021. rentang 11% ± 1% yoy pada tahun 2021.

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83. Sementara itu, penghimpunan dana di 83. Meanwhile, the accumulation of funds in pasar modal tahun 2021 nanti the capital market in 2021 is expected to diperkirakan akan meningkat kembali rebounce to the pre-pandemic level, in sebagaimana saat sebelum pandemi the range of IDR150 to 180 trillion, which yakni di kisaran Rp150 s.d. 180 triliun is mainly supported by the rise of debt yang terutama didukung akan maraknya issuance as an implication of ample global penerbitan surat utang sebagai implikasi liquidity and a prolonged low interest rate dari likuiditas global yang masih ample environment. dan berlanjutnya environment suku bunga rendah.

84. Piutang industri perusahaan 84. Finance companies receivables are pembiayaan diperkirakan akan predicted to experience a positive growth menunjukkan pertumbuhan positif di in 2021, in the range of 4%±1% yoy, tahun 2021 seiring dengan following the rise in public consumption. meningkatnya konsumsi masyarakat yang kembali pulih di kisaran 4% ±1% yoy

PENUTUP CLOSING Bapak Presiden dan Bapak Wakil His Excellency Mr. President and Mr. Vice Presiden yang kami muliakan dan President, notable ladies and gentlemen, hadirin sekalian yang berbahagia,

85. Demikian arah kebijakan OJK di tahun 85. Those are the strategic policies for 2021 2021 yang dapat kami sampaikan dalam that we formulate in response to various menyikapi berbagai tantangan dan challenges and high uncertainties, ketidakpastian yang masih sangat particularly on how to optimize the role of tinggi, khususnya bagaimana the financial sector as a catalyst for mengoptimalkan peran sektor keuangan national economic recovery. sebagai katalis pemulihan ekonomi nasional.

86. Kebijakan strategis di atas disusun 86. All these six policies focus in 2021 are dalam suatu Master Plan Sektor Jasa part of the Master Plan for the Financial Keuangan Indonesia 2021-2025 yang Services Sector 2021-2025 that will be kami launching malam ini dan launched tonight, which is hoped to diharapkan dapat menjawab tantangan address short-term challenges of the jangka pendek sebagai akibat dari Covid-19 pandemic as well as structural

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pandemi Covid-19 dan tantangan challenges in realizing a national financial struktural dalam mewujudkan sektor services sector that is competitive, jasa keuangan nasional yang berdaya contributive and inclusive. saing, kontributif dan inklusif.

87. Tentunya kami tidak dapat bekerja 87. However, we certainly could not do this sendiri. Untuk itu, kami mengajak semua on our own. Therefore, I would like to use pihak untuk berkolaborasi dan this opportunity to humbly ask all of you berinovasi guna mewujudkan sektor to take part in collaboration and jasa keuangan yang berdaya saing dan innovation for a more competitive berperan optimal dalam mendorong financial services industry that plays a pemulihan dan pertumbuhan ekonomi paramount role in creating a more robust yang lebih berkualitas. Besar harapan economic growth. It is our greatest hope kami, kita dapat mengisi tahun 2021 ini that we could achieve better performance dengan kinerja dan prestasi yang lebih in the year 2021. baik lagi.

88. Sebelum mengakhiri laporan ini, 88. Before I conclude, kindly allow me to perkenankan kami menyampaikan express my great appreciation, on behalf apresiasi Otoritas Jasa Keuangan untuk of OJK, for notable parties who have berbagai pihak-pihak yang memberikan contributed significantly in advancing kontribusi besar dalam pengembangan financial services sector. sektor jasa keuangan. - The first ones, Mrs. Dr. Baiq Mulianah, - Pertama, penggerak keuangan mikro M.Pd.I from BWM Ahmad Taqiuddin syariah dalam mendukung program Mansur (Lombok Tengah District, Pemulihan Ekonomi Nasional yaitu West Nusa Tenggara) and Mr. K.H. M. kepada Ibu Dr. Baiq Mulianah, M.Pd.I Sholahuddin Humaidullah from BWM dari BWM Ahmad Taqiuddin Mansur Apik Kendal (Kendal District); for their (Kab. Lombok Tengah Nusa contribution in advancing Islamic micro Tenggara Barat) dan Bapak K.H. M. finance in the context of National Sholahuddin Humaidullah dari BWM Economic Recovery. Apik Kendal (Kab. Kendal); - Second, for their notable efforts in promoting Financial Inclusion at the - Kedua, Penggerak Program Inklusi Provincial Level, the Governor of Keuangan Tingkat Provinsi yaitu Central Java, Mr. Ganjar Pranowo and kepada Gubernur Jawa Tengah, the Governor of South Sulawesi, Mr. Bapak Ganjar Pranowo dan Gubernur Nurdin Abdullah; Sulawesi Selatan, Bapak Nurdin - Third, for their great efforts in Abdullah; promoting Financial Inclusion at the District/City level, Mayor of City of

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- Ketiga, Penggerak Program Inklusi Malang, Sutiaji and the District Head of Keuangan Tingkat Kabupaten/Kota Kerinci, Mr. Adirozal; and yaitu kepada Walikota Malang, Sutiaji - Last but not least, for their wonderful dan Bupati Kab. Kerinci, Bapak effort in promoting fintech for Adirozal; dan supporting National Economic - Terakhir, Penggerak Fintech dalam Recovery, the General Secretary of mendukung program Pemulihan AFTECH, Mr. Karaniya Dharmasaputra Ekonomi Nasional yaitu kepada and the Head Executive of Fintech Sekretaris Jenderal AFTECH, Bapak Productive AFPI, Mr. Reynold Wijaya. Karaniya Dharmasaputra dan Ketua Klaster Pendanaan Produktif AFPI, Bapak Reynold Wijaya.

89. Selanjutnya, kami mohon perkenan 89. I have concluded my remarks, and now, Bapak Presiden Republik Indonesia may I respectfully request Your untuk menyampaikan arahan terkait Excellency, the President of the Republic kebijakan pengembangan sektor jasa of Indonesia, to kindly provide us with his keuangan ke depan, sehingga wisdom and guidance on further keberadaannya semakin bermanfaat developing our financial services sector in bagi pertumbuhan ekonomi nasional the future, to be more contributive to the dan peningkatan kesejahteraan economic growth and to the improvement masyarakat. of Indonesian people’s welfare.

90. Semoga Tuhan Yang Maha Kuasa 90. May God the Almighty bestow His senantiasa memberikan ridho-Nya blessings upon all of us in in each and kepada kita semua every way.

Wabillahit taufiq wal hidayah, Wabillahit taufiq wal hidayah, Wassalamu’alaikum Warahmatullahi Wassalamu’alaikum Warahmatullahi Wabarakatuh. Wabarakatuh.

Jakarta, 15 Januari 2021 Jakarta, January 15th, 2021 Wimboh Santoso Wimboh Santoso Ketua Dewan Komisioner Chairman of the Board of Commissioners

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