JAKARTA, Feb. 13 (Xinhua) -- The Indonesian government will boost house financing through the sales of mortgage-backed securities, so as to help provide decent housing to low-income people, the Jarkata Post reported Friday.
The Indonesia Finance Ministry, the Office of State Minister for People's Housing and Indonesian central bank (BI) jointly signed a decree on Thursday that allows banks to get quick funds from selling their mortgage claims, with the state-sanctioned PT Sarana Multgriya Financial acting as a secondary mortgage facility.
Besides, a team headed by the Finance Minister Sri Mulyani Indrawati will oversee the government's house financing policy.
"Many of our households haven't lived in a decent house. The team is expected to accelerate house financing in the future," the newspaper quoted the Indonesian Minister for People's Housing M. Yusuf Asy'ari as saying.
He added that the sales of mortgage-backed securities would eventually help people to get low cost apartments through the banks' facility scheme of money back and quick loans disbursement.
In regard to the U.S. economy being brought down by the mortgage-backed securities, BI governor Boediono said that the central bank would prevent similar conditions arising in Indonesia.
"We'll use only prime assets. And the securitization of the assets would be in just one phase, minimizing the risks," he said.