BSI to follow SLIK relaxation policy, easing subsidised mortgage applications

Jakarta (ANTARA) - PT Bank Syariah Indonesia (Persero) Tbk (BSI) is prepared to follow the Financial Services Authority’s (OJK) SLIK relaxation policy to simplify the subsidised mortgage (KPR) application process for low-income communities, while still adhering to principles of prudence and credit risk management. The financing risk remains with the bank as the credit disbursing party. Previously, OJK decided that information displayed in the Financial Information Service System (SLIK) reports would be for credits or financing exceeding Rp1 million, whether based on ceiling or outstanding debit for each debtor. “In the context that OJK has considered that (SLIK only showing credits above Rp1 million), it means OJK has calculated (the risk) several times. As operators, we follow the regulation,” said BSI Deputy Director Bob Tyasika Ananta when met by reporters at BSI Tower in Jakarta on Tuesday. Bob added that SLIK is still necessary as initial information to view customer track records, which has been one of the bases in the credit assessment process, alongside other risk considerations in line with regulations. He also stated that information in SLIK, including any less favourable records, still helps in managing financing risks. Nevertheless, Bob reminded that the financing risk remains with the bank as the credit disbursing party. “But in that context, there may be certain deviations considered by OJK,” said Bob. In addition to adjustments in SLIK reporting, OJK also decided to accelerate the update of loan repayment status in SLIK to a maximum of three working days after repayment. This policy is expected to help speed up the housing financing application process. Contacted separately, Head of Research at the Indonesian Banking Development Institute (LPPI) Trioksa Siahaan assessed that the Rp1 million threshold policy in SLIK will not significantly affect mortgage applications. He noted that loans below Rp1 million are relatively small and rarely found in banking. According to him, SLIK updates so far have not been an obstacle in mortgage applications. “In principle, SLIK is a tool to view payment track records, and it has been very helpful for banks in conducting qualitative analysis. If the SLIK update is only related to the Rp1 million reporting limit, it will not have much impact on the current process,” said Trioksa. Previously reported, OJK Commissioner Chairman Friderica Widyasari Dewi stated that OJK strongly supports the priority programme for building three million houses. The strengthening of the SLIK policy was conveyed in a meeting with the Minister of Housing and Settlement Areas (PKP) Maruarar Sirait at the OJK Radius Prawiro Tower office on Monday (13/4). To support the acceleration of the housing programme, OJK also provides access to BP Tapera for SLIK data in accordance with applicable provisions. This step is expected to support the acceleration of the housing financing facility provision process, which is BP Tapera’s task.