Banks have urged the Financial Services Authority (OJK) to extend its debt relief program as the COVID-19 pandemic has yet to show signs of slowing down.
Association of State-Owned Banks (Himbara) chairman Sunarso said on Monday the banks had asked the authority to extend its loan restructuring relaxation program by at least another year.
The policy has been really helpful for the banking industry and the real sectors, he said during a live-streamed press conference following a meeting between the OJK and 15 of the countrys biggest banks.
The policy, stipulated under OJK Regulation No. 11/2020 issued in March, relaxes debt quality assessment and restructuring requirements for debtors that are hit hard by the COVID-19 outbreak.
Indones…
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