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OJK -‐ PUSAT KEUANGAN MIKRO DAN INKLUSI
(OJK-‐PROKSI)
OJK INTERNATIONALCENTER OF EXCELLENCEFORMICROFINANCE AND
INCLUSION
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Microfinance Sub Sectors in Indonesia
Micro-‐Credit• Very small loan• No Collateral• Repayable within 6-‐12 months
Micro-‐Saving• Very small deposit• Less than IDR 20 Million / USD 1,449
Micro Insurance• Premium under IDR 50.000/USD3,62
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Indonesia’s Economic Pyramid
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Upper Class: >USD22.1 per day
Middle Class: USD4.5 -‐ USD22.1 per day
Poor : < USD4.5 per day
Customer of Conventional Banking, Insurance and Capital Market Products
Potential Market of Microfinance
Source: World Bank estimates, Individual net incomehttp://blogs.ft.com/beyond-‐brics/2014/04/15/indonesias-‐fragile-‐middle-‐close-‐to-‐the-‐edge/ Note: < USD1.90 a day, 96m people; USD 1.90 – USD 4.50, 107m people
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360 Ethnic GroupsSpeaking 719 LanguagesLiving on 6000 of 17,504 islands
118 Commercial Banks
1,800 Rural Banks
600,000 Micro Finance Institutions
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Microfinance and Financial Inclusion
Microfinance is an important financial inclusion instrument that canaddress development issues such as unemployment, poverty and social gaps by generating employment, improving social income and access to finance.
Microfinance could also provide community’s basic economic needs and increase productivity while maintaining the cohesiveness of local society.
In terms of access to finance, microfinance is a suitable solution for the poor as it increases access by enabling micro-‐credits for the low-‐income households.
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The History of Microfinance in Indonesia – More than 100 years
1895
Bank Rakyat Indonesia was established
1900s
Village Credit Institutions or Badan Kredit Desa establishedProvide savings and loans facilities to rice farmers.
1978
Rural Banks (Badan Perkreditan Rakyat) was established
1992
New Banking Law formally recognizing licensed BPRs as distinct from commercial banks
2015
New Branchless Banking Rules and Microfinance Law Implemented
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Financial Inclusion in Indonesia
1. 203 millions of Indonesia citizens lacking of access to financial services, due to: disproportionate formal financial services institution network, a dispersed population and geographic structure, lack of collateral and low financial literacy.
2. Based on a financial literacy survey conducted in 2013:ü 21.8% of the population is categorized as well literate with financial servicesü product utilization level of 59.7%.
1. Effective and efficient financial inclusion program.
2. Comprehensive financial literacy program that can create a well literate public in terms of financial management.
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CHALLENGES
SOLUTIONS
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OJK Statutory Mandate
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• Law No. 21 No. 2011 (OJK Law) mandated OJK toperform supervision of financial institutions andprotect the interests of financial consumers,
• Law No. 1 of 2013 on Microfinance Institutions(Law on Microfinance) mandated OJK to supervisemicrofinance institutions in Indonesia, OJK hasstatutory obligation to perform these dutieseffectively.
• OJK is mandated to nurture the financial industry(including microfinance institutions) to ensure asound performance, as well as prudent andfinancially responsible practice of the microfinanceinstitutions.
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Microfinance Key Elements in Indonesia
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• OJK• BI• Central & Local Government
• 118 Commercial Banks• 1,800 Rural Banks• 600,000 Micro Finance Institutions• 52 Life insurers
• 82 Property & Casualty insurers• Pawn Shops
• Corporate agents• Payments providers• Telecoms companies• State postal firm -‐ PT Pos
Indonesia• State pawn shop -‐ PT
Pegadaian
Regulators Microfinance Providers
Intermediaries
• Universities and Other Higher Education Institutions
• Foreign Experts• Research Institute• Non-‐Government Institutions
Experts / Practitioners
Lower Income Individuals:203 Million People
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To support knowledge development and provide affordable learning platform on microfinance –
for policy/decision makers, business and financial practitioners,
academics, global communities and other relevant stakeholders—
through learning and collaborations.
To become a reputable international microfinance center that supports global poverty alleviation programs –through amplification of microfinance contribution to the increased
access to finance for the world’s poor.
OJK-‐PROKSI: Vision and Mission
VISION MISSION
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OJK-‐PROKSI: Objectives
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Strengthen Coordination among Government Agencies
Provide Learning Forum for Stakeholders
Peer Learning Centre and Knowledge Sharing Forum for Policy Discussion on Microfinance and Financial Inclusion
Expose Policy Makers on innovative approaches in the financial inclusion policymaking
To bring recognition to outstanding policy champions in increasing access to financial services for the poor
Provide various resources of international experts and strategic partners to enrich discussion on pollicy and best practices
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Why OJK?
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• Indonesia : the world’s biggest laboratory of microfinance
• To carry out the mandates and perform statutory tasks succesfully
• OJK’s access to all microfinance stakeholder (Bank and Non-‐Bank)
• The needs of a leader in microfinance development strategic initiatives
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PROGRAMS AND ACTIVITIES
Survey and Research Seminar, Workshop, and Summit Training
Module Development Lecturer Exchange Visitation
Publication Award Policy Review
Pilot Project IT Development Rating System
Database Development
Credit Guarantee System Technical Assistance
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POLICY REVIEW
Laws
Local Government Regulations
Ministry Regulations
OJK Regulations
BI Regulations
Government Regulations
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SURVEY AND RESEARCH
Survey Research
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SEMINAR, WORKSHOP, AND SUMMIT
International Summit for Policy Makers
International and Domestic Seminars
International and Domestic Workshops
Focused Group Discussions (FGDs)
International and Domestic Call for Papers
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TRAINING
• Training of Trainers (ToT)• MFI Supervisors (Local Government)
• MFI Managers• MSE Operators
Domestic
• MFI Regulation• MFI Supervision• MFI Business Process• MFI Information and Reporting System
International
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MODULE DEVELOPMENT
Training Modules for ToT
Training Modules for Supervisors
Training Modules for MFI Managers
Training Modules for MSE Operators
Domestic
Training Modules for MFI Regulation
Training Modules for MFI Supervision
Training Modules for MFI Business Process
Training Modules for MFI Information and Reporting System
International
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TECHNICAL ASSISTANCE
Local Governments
MFIs
SMEs
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RATING SYSTEM
Rating System for Microfinance Institutions
Rating System for Micro and Small Enterprises
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CREDIT GUARANTEE SYSTEM
Private Credit Guarantee Schemes
Local Credit Guarantee Schemes
SOE/National Credit
Guarantee Schemes
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LECTURER
Domestic Guest
Lecturers
International Guest
Lecturers
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PUBLICATION
Indonesia Microfinance Outlook
Books on Microfinance and Financial Inclusion
Accredited Journal Bulletin
Website
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AWARD
MFIs MSEs Managers MF Schemes
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DATABASE DEVELOPMENT
MFIs SMEs RatingCredit
Guarantee Schemes
Trainers Supervisors Stakeholders
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IT DEVELOPMENT
OJK-‐PROKSI Website
MFI Information System
SME Information System
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EXCHANGE VISITATION
Africa Asia South America
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28End of Presentation