Indonesia c.bank issues new banking rules on mandatory MSME lending

JAKARTA: Indonesia's central bank has issued new rules making it easier for banks to meet requirements on supporting small and medium business, in a measure also aimed at bolstering an economic recovery from the COVID-19 pandemic, it said in a statement.

The new rules replaced a 2015 regulation mandating banks to provide 20% of their total lending to micro, small and medium enterprises (MSMEs), which some banks had trouble meeting due to a lack of expertise in giving such loans.