OJK Supports Finance Minister Purbaya's Proposal to Transform PNM into UMKM Bank, Emphasising Supervision and Consumer Protection

JAKARTA, KOMPAS.com - The Financial Services Authority (OJK) supports Finance Minister Purbaya Yudhi Sadewa’s plan to transform PT Permodalan Nasional Madani (PNM) into a bank dedicated to micro, small, and medium enterprises (UMKM). OJK Commissioner Chair Friderica Widyasari Dewi stated that OJK, in principle, follows the direction of government policy and is ready to support steps deemed to provide greater benefits to society. “That was conveyed by the Finance Minister in the DPR yesterday. The main point is that we support it,” Friderica said when met at Menara Bank Mega on Tuesday (7/4/2026). She noted that PNM has long been under OJK supervision as a financial institution with special characteristics or sui generis. “OJK supports and assists in supervision so that financial service institutions, including PNM in this case, can operate in accordance with existing regulations and so on,” she said. Friderica added that supervision will focus on prudential aspects to ensure the institution’s health remains maintained, as well as compliance with applicable regulations. In addition, OJK emphasises the importance of market conduct supervision, given PNM’s direct interactions with UMKM actors. “So besides prudential aspects, market conduct aspects are also continuously monitored for consumer protection. The main point is that we support it,” she concluded. Purbaya stated that he is currently proposing to Danantara Indonesia to designate PNM as a Special Mission Vehicle (SMV) under the Ministry of Finance. Through this step, the Ministry of Finance aims to transform PNM into the main channel for People’s Business Credit (KUR), previously only providing financing to ultra-micro enterprises. “So PNM becomes a bank possibly under SMI (PT Sarana Multi Infrastruktur) or PIP. Under us, it will distribute KUR,” he said during a working meeting with Commission XI of the DPR RI at the Parliament Building, Jakarta, on Monday (6/4/2026).