JAKARTA. The Head of Commissioners of the Financial Authorities Services (OJK), Wimboh Santoso, stated that the implementation of the credit restructuring policy due to the COVID-19 pandemic has been running effectively. Furthermore, banks are starting to boost their credit channelling with better risk management this time.

Santoso’s opinion is reinforced with the data stating that until October 2021, banks have restructured credits of IDR 714.01 trillion of 4.5 million debtors. Meanwhile, in financing institutions, there are 5.19 million contracts worth IDR 216.22 trillion in total.

“The said condition indicates that the implementation of restructuring policy due to the COVID-19 has been effective in giving opportunities to business owners and banks to survive and thrive again,” Santoso explained in Jakarta earlier today (15/12).

According to Santoso, currently, the banks are starting to promote credit distribution with more vigor and improved risk management. The said strategy is believed to accelerate the national economic recovery, including the restructured credits. (AM/ZH)