Restructuring Stimulus for Fintech and Microfinance Institutions

By Editorial Team 30/12/2020
COVID-19 stimulus
Summary

The Financial Services Authority (OJK) issued OJK Regulation No. 58/POJK.05/2020, amending OJK Regulation No. 14/POJK.05/2020 on the Countercyclical Policies on the Impact of Coronavirus Disease 2019 for Non-Bank Financial Services Institutions. The provision regulates the COVID-19 stimulus policy extension in the Non-Bank Financial Industry (IKNB) sector.

The previous regulation, in which OJK issued in April 2020, is valid until December 31, 2020. With the new regulation, OJK extends the stimulus policy to April 17, 2022.

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