In this way, the realization of the KUR distribution can increase both in terms of ‘outstanding’ and debtors
Medan (MidLand) – The North Sumatra Financial Services Authority (OJK) said expanding access is key to increasing the use of People’s Business Credit (KUR) by micro, small and medium enterprises (MSMEs).
“For this reason, we continue to cooperate with financial institutions,” Director of Supervision of Financial Services Institutions at North Sumatra Province, OJK Wan Nuzul Fachri said in Medan on Wednesday.
In this regard, Wan Nuzul continued, one of the things his party can do is participate in the optimization of regulations, for example regarding the licensing process, so that the distribution of the KUR is more optimal.
Hence, the OJK of North Sumatra also actively supervises banks and other financial service institutions in the distribution of KURs.
“In addition to this, we also appreciate banks actively distributing KURs,” Wan Nuzul said.
Read also: KUR placement realization for SMEs reaches IDR 31.81 billion as of December 31, 2023
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So, on the SME side, the OJK of North Sumatra continues to provide facilities and assistance so that economic actors better understand how to use KUR and utilize it optimally.
Wan Nuzul also highlighted the role of the North Sumatra provincial government together with the district and city governments in their region to continue supporting the distribution of KURs to MSMEs.
North Sumatra OJK, he added, through the Regional Financial Access Acceleration Team (TPAKD) has also prepared various programs such as workshops and business meetings to improve the quality of literacy and inclusion of MSME actors.
“In this way, the realization of KUR distribution can increase both in terms of ‘outstanding’ and debtors,” Wan Nuzul said.
He added that the OJK of North Sumatra continues to collaborate with the Government of North Sumatra to develop infrastructure to improve the quality of MSMEs, for example by creating more business incubation, access to markets and logistics connectivity which ultimately increases distribution of KUR.
Regarding KUR, the OJK of North Sumatra noted that in January-November 2023, banks had distributed IDR 78.23 trillion with a growth of 12.19% “year-on-year”.
The share of credit to SMEs in North Sumatra is 30.46%, higher than the government’s target of 30%.
Overall, over the same period, the distribution of bank credit in North Sumatra reached IDR 256.81 trillion or grew by 0.69% “year-on-year” (y/y).
This credit is dominated by productive credit, i.e. IDR 180.43 trillion or 70.26% of the total.
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Read also: Air Langga supports acting governor of South Sulawesi in proposing additional KURs to the centre
Reporter: Michael Siahaan
Editor: And Salim
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