JAKARTA: The Financial Services Authority (OJK) is introducing several financial support measures to accelerate the implementation of President Prabowo Subianto’s flagship three million homes programme.
Newly appointed OJK head Friderica Widyasari Dewi revealed that one of the key changes is that only debtor data with above one million rupiah of outstanding loans will be displayed in the OJK’s Financial Information Service System (SLIK).
The system typically serves as a reference for financial institutions in approving or rejecting new loan applications.
The OJK emphasized that the information displayed in the SLIK system does not automatically determine whether a loan or financing application will be approved or rejected, noting that it only served as a consideration in the credit analysis process.
The agency will also expedite updates on loan repayment data in the SLIK system within three working days after the loan is resolved, hoping that the move will streamline the housing finance process.
“This will be implemented by the end of June at the latest. This is important to help our developers speed up the housing finance process,” Friderica said at a press release on Monday.
Furthermore, OJK has granted SLIK data access to the Public Housing Savings Management Agency (BP Tapera), which is tasked with disbursing the housing finance facilities.
The agency is also planning to establish a dedicated task force aimed at improving coordination on financial aspects related to the implementation of the three million homes programme.
This task force will include the OJK, the Housing and Settlements Ministry, BP Tapera, developer associations and other relevant stakeholders.
Last year, the OJK launched several initiatives to support efforts in boosting homeownership for low-income earners.
This includes issuing a letter to improve SLIK reporting quality, which states that the SLIK system contains neutral financial information rather than functioning as a blacklist. — The Jakarta Post/ANN
