OJK Restructures Rp12.6 Trillion in Credit for Flood and Landslide Victims in Sumatra

The Financial Services Authority (OJK) has implemented credit and financing relaxations for flood and landslide victims in Aceh, North Sumatra, and West Sumatra. Friderica Widyasari Dewi, Acting Chair and Deputy Chair of the OJK Board of Commissioners, said that credit restructurings reached Rp12.6 trillion as of January 2026. ‘Credit restructurings under the OJK policy have been provided amounting to Rp12.6 trillion for 246,000 accounts,’ Friderica, known as Kiki, said at the OJK February 2026 RDKB press conference at her Jakarta office on Tuesday (3/3/2026). The relaxations are provided as a risk mitigation step to prevent disaster impacts from spreading to the financial sector. The policy is also aimed at accelerating economic recovery in the affected areas. Special treatment for debtors includes several schemes. Credit quality assessment is determined solely based on timely repayments or a one pillar approach for facilities up to Rp10 billion. Restructuring applies to financing extended before or after the disaster-affected status. Specifically for the LPBBTI (Layanan Pendanaan Bersama Berbasis Teknologi Informasi) platform, implementation of restructurings must be approved by the fund providers. Financial institutions may continue to channel new financing to affected debtors. Credit quality assessment is determined separately from existing facilities or not using the one obligor approach. The steps include simplification of the claims process, identification of affected policies, implementation of a disaster recovery plan if necessary, strengthening communication with policyholders, and coordination with the National Disaster Management Agency (BNPB), Regional Disaster Management Agencies (BPBD), and reinsurers. Insurance companies must report progress on handling claims to the OJK on a regular basis.