OJK: Financing Receivables Growth Target Remains On Track

The Financial Services Authority (OJK) estimates that the growth of financing receivables can still reach the 6-8% target in 2026. As of April 2026, financing disbursement reached Rp 9 trillion.

Agusman, Chief Executive of the OJK’s Supervisory Board for Financing Institutions, Venture Capital Companies, Microfinance Institutions, and Other Financial Services Institutions, stated that the industry needs to channel approximately Rp 30 trillion for receivables growth to fall within the 6-8% range. Thus, an additional disbursement of around Rp 21 trillion is still required.

“We are confident that with the support of all multifinance industry players, the 6-8% financing receivables growth outlook we conveyed earlier in 2026 is, God willing, still on the track,” Agusman said at the Mid Year Economic Outlook 2026: The New Rules of Survival in Uncertain Times forum in Jakarta, Friday, 26 June 2026.

According to Agusman, there is still considerable room for growth to support the achievement of this target, one of which is through electric vehicle financing. As of April 2026, electric vehicle financing grew by 32% with a value reaching Rp 23 trillion. However, its proportion of total financing is only around 4.3%, indicating potential for further increase.

Nevertheless, he acknowledged that electric vehicle financing still faces challenges, particularly from business competition. To support industry growth, the OJK has prepared a roadmap together with the Indonesian Financing Companies Association (APPI) and issued POJK Number 35 of 2025 as an amendment to POJK Number 46 of 2024.

Agusman explained that this regulation is part of a deregulation effort aimed at providing ease of doing business and opening greater opportunities for the multifinance industry. The deregulation includes three main policies.

First, allowing financing companies that meet certain requirements to provide motor vehicle down payments of up to 0%. Second, lowering the core capital to paid-up capital ratio requirement from 150% to 50% for financing through business capital facilities and fund facilities. Third, providing an exemption from the collateral obligation for working capital financing through these facilities of up to Rp 100 million per MSME debtor.

Agusman said this deregulation policy is expected to encourage the growth of the multifinance industry while expanding public access to financing as an alternative source of funding.