Sjaifuddin Thahir - Corporate Communication BKI quote that in a bid to support President Joko "Jokowi" Widodo's lofty maritime axis plan, the Financial Services Authority (OJK) has instructed banks to increase credit for the sector by 50 per cent to 128 trillion rupiah (S$13.3 billion) this year, an official says. OJK deputy commissioner for banking supervision, Irwan Lubis, said the financial authority wanted credit for the maritime sector to increase by 43 trillion rupiah this year to speed up development. Credit disbursed to businesses in the sector reached 85 trillion rupiah last year, according to OJK data. That amount was roughly 2.4 per cent of total credit disbursements in the country. The maritime sector's NPL rate last year was 3 to 3.5 per cent, better than five years ago when it exceeded 5 per cent. Irwan said that an NPL rate of 2 to 2.75 per cent was ideal to mitigate any risks and keep businesses sustainable. Yugi said Kadin would prioritise proposals from the aquaculture sector and other fisheries-related industries, arguing that these were areas that required the most development. Source :http://business.asiaone.com
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