Entrepreneurs welcome the credit restructuring extension policy which is in effect until March 31, 2024. However, there are still banks that do not comply with this regulation. Deputy Chairperson of the Indonesian Employers' Association (Apindo) Shinta W. Kamdani said that some banks still did not follow the relaxation policy. In fact, credit restructuring is very important for business people to get around difficulties in stagnant cash flows. "We see that there are still banks that don't follow suit, so we urge that the banks also understand that the situation requires many sectors to restructure," said Shinta when meeting at the Apindo Office, Jakarta, Wednesday (22/12/ 2022).

For information, the credit/financing restructuring policy will end in March 2023. However, OJK adopts a policy to support certain (targeted) segments, sectors, industries and regions that require an additional credit/financing restructuring period of 1 year until March 31, 2024.

There are three sectors that will receive an extension of the restructuring, the sector property is not one of them. Meanwhile, the three sectors in question, namely the MSME segment in all sectors, accommodation and food and beverage providers, as well as industries that provide large employment opportunities, namely the textile industry and textile production (TPT) and the footwear industry.

Apindo Chairman Hariyadi B. Sukamdani welcomed the credit restructuring which was considered very positive for the business world. Moreover, this time the policy is very specific given to certain targeted industries.

"This is very positive because the OJK has relaxed until 2024, different from before, now the sectors are more specific, the hotel and restaurant sector, the labor-intensive sector and several other sectors, so we positively welcome this relaxation," he said .

As previously reported, OJK's Head of Non-Bank Financial Industry Supervision (IKNB) 2B Department Bambang W. Budiawan said the policy was to support the industry to phasing out countercyclical policies in stages so as to minimize the impact if the restructuring was later stopped.

On the other hand, OJK is concerned that there is the potential for several parties to take advantage or take advantage without interests that are in line with the objective of credit restructuring. "Debtors who claim to be affected are what we have to anticipate and this policy is also left to the appetite of industrial financing companies," said Bambang.