OJK Extends Lifeline for Flood Victims in Sumatra with Rp 17.4 Trillion Relaxation

JAKARTA, KOMPAS.com - The Financial Services Authority (OJK) has reported developments in the restructuring of credit and financing for victims of floods and landslides in Aceh, North Sumatra, and West Sumatra until March 2026.

OJK Commissioner Chairman Friderica Widyasari Dewi stated that credit restructuring has been granted to 279,000 debtors with a total value of Rp 17.4 trillion.

“Up to March this year, credit and financing restructuring has been provided using OJK’s relaxation policy amounting to Rp 17.4 trillion,” she said during a press conference at Menara Radius Prawiro, Jakarta, on Thursday (7/5/2026).

The restructuring applies for three years from 10 December 2025 in accordance with the OJK policy established through the OJK Commissioners’ Meeting.

“We have set a policy for special treatment of credit or financing for debtors affected by disasters in Sumatra,” she said.

The relaxation policy is implemented to mitigate risks so that the impact of the disaster does not spread to the financial sector. That step is also aimed at accelerating economic recovery in the affected areas.

Special treatment for debtors includes several restructuring schemes.

Credit quality assessment is determined solely based on payment timeliness or the one-pillar approach for ceilings up to Rp 10 billion.

Restructuring also applies to financing disbursed before or after the debtor is affected by the disaster.

For Information Technology-Based Joint Funding Service Providers (LPBBTI), the implementation of restructuring must obtain approval from the funders.

Credit quality assessment for new financing is conducted separately from previous facilities and does not use the one-obligor approach.

The insurance sector also receives attention in that policy.

OJK has requested insurance and reinsurance companies to activate disaster emergency response procedures.

Those steps include simplifying the claims process, identifying affected policies, implementing a disaster recovery plan if necessary, strengthening communication with policyholders, and coordinating with the National Disaster Management Agency (BNPB), Regional Disaster Management Agencies (BPBD), and reinsurers.

Insurance companies are also required to submit periodic reports on the progress of claims handling to OJK.