JAKARTA – The Guarantee and Financing Bureau of the Capital Market and Financial Institution Supervisory Agency (Bapepam-LK) is revising Minister of Finance Regulation No. 222 of 2008 concerning Credit Guarantee Companies and Credit Reinsurance Companies. One key aspect of this revision is the reduction in the paid-up capital requirement for guarantee companies.
Initially, the minimum paid-up capital was set at Rp50 billion. However, this amount has been deemed too burdensome for guarantee companies. As a result, the minimum capital requirement will be lowered to a more feasible amount.
So far, several regional governments have had their applications rejected due to insufficient capital, including DKI Jakarta, Yogyakarta (DIY), Central Java, and Banten. In general, the capital they proposed ranged between Rp10 billion and Rp15 billion.
The reason is simple: with a high minimum capital requirement, these companies risk collapsing if significant claims arise.
"If a major claim occurs, the company could go bankrupt immediately," said Head of the Guarantee and Financing Bureau, Ihsanudin, on Friday (4/2).
Currently, there are only four active guarantee companies, namely:
- Jaminan Kredit Indonesia (Jamkrindo)
- Penjaminan Kredit Pengusaha Indonesia
- Jamkrida Jatim
- Jamkrida Bali Mandala
Ihsanudin also suggested that KUR (People’s Business Credit) beneficiaries should preferably be first-time borrowers.
One of the key considerations is that repeat borrowers tend to have a higher risk of non-performing loans (NPLs).
(Source: kontan.co.id)