Cegah Rentenir, OJK Luncurkan Ekosistem Keuangan Inklusif

Summary

This video highlights the challenges faced by small business owners like Nurhayati, a traditional craftswoman in Sumatera Barat, who struggles with limited access to financing. Despite her success in selling Minang-style shawls, she has never borrowed money from a bank due to concerns about large loans. The Otoritas Jasa Keuangan (OJK) is addressing this issue by launching initiatives like the 'marandang' program, aimed at providing microloans to small businesses and combating loan sharks. The program seeks to enhance financial inclusion and empower entrepreneurs, especially in rural areas like Tanah Datar.

Takeaways

• 😀 Nurhayati has been making traditional Minang shawls, Bajaj, and Cantik for 3 years, investing between 500,000 to 700,000 IDR of her own funds to produce each shawl and selling them for 1.7 million IDR.
• 😀 Despite her need for additional capital (around 5 million IDR) to speed up production, Nurhayati has never borrowed from a bank, fearing the risks associated with loans.
• 😀 The lack of financial support has forced her to purchase materials bit by bit as her funds allow, rather than buying in bulk to reduce costs.
• 😀 Nurhayati is one of the many small business owners in the rural Sumpur area of Tanah Datar, West Sumatra, which has yet to see widespread access to financial products and services.
• 😀 Tanah Datar is a region known for its tourism potential, particularly its natural attractions like Lake Singkarak and its rich cultural heritage, but it still faces challenges in financial inclusion.
• 😀 The Otoritas Jasa Keuangan (OJK) has launched a financial inclusion program aimed at improving access to financial services in rural and tourism-focused areas, specifically targeting 3,000 villages in Indonesia.
• 😀 Sumpur village in West Sumatra was chosen as the pilot location for this initiative due to the low literacy rate (40.7%) and financial inclusion rate (76.88%) in the region.
• 😀 The program, part of the Percepatan Akses Keuangan Daerah (TPAKD), collaborates with financial stakeholders to help improve financial access for local businesses and combat informal lenders (rentenir).
• 😀 One of the key features of the program is the provision of low-interest loans, such as the 'super micro' loan product, which allows for loans of up to 10 million IDR with an interest rate of just 1.5% per year after government subsidies.
• 😀 Despite the availability of these loans, only 100 out of 300,000 small businesses in West Sumatra have utilized the program, highlighting the need for more outreach and education about financial services.

Q & A

What is the primary business that Nurhayati is involved in?

Nurhayati is a traditional scarf maker, specializing in creating the Bajaj sulaman capelo samek, a unique type of embroidered scarf from Minangkabau, Sumatra.

How much does Nurhayati invest in her business to create one scarf, and what is its selling price?

Nurhayati invests around 500,000 to 700,000 Indonesian Rupiah in creating each scarf, which she sells for approximately 1.7 million Rupiah.

Has Nurhayati ever taken a loan from a bank to support her business?

No, Nurhayati has never borrowed money from a bank. She has not dared to take out a loan, even though the capital required for her business is relatively small.

What is the main reason Nurhayati has avoided taking a bank loan?

The main reason Nurhayati has avoided taking a bank loan is her fear of borrowing and the associated risks, even though the amount needed to improve her business operations is only around 5 million Rupiah.

What program is the Otoritas Jasa Keuangan (OJK) implementing in rural areas, and why?

The OJK is implementing a financial inclusion program in rural areas, especially in tourist villages, to increase access to financial services and support local entrepreneurs, aiming to boost tourism and national economic growth.

Why was the village of Sumpur in Tanah Datar chosen for the OJK's financial inclusion program?

Sumpur in Tanah Datar was chosen due to its low financial literacy (40.7%) and financial inclusion rate (76.88%), which are below the national averages. The program aims to address these gaps and promote financial accessibility.

What is the focus of the 'Marandang' financial program introduced in Minangkabau?

'Marandang' is a program designed to combat loan sharks by offering small, accessible loans with low-interest rates to micro-entrepreneurs, thus helping them avoid predatory lending.

What are the loan terms for the 'Marandang' program?

The 'Marandang' program offers loans up to 10 million Rupiah with no collateral required. The interest rate is 4.5%, with a subsidized rate of 1.5% per year, paid annually by the borrower.

How many micro-entrepreneurs in Tanah Datar have utilized the 'Marandang' loan program so far?

As of 2022, only about 100 micro-entrepreneurs in Tanah Datar have utilized the 'Marandang' loan program, even though there are around 300,000 micro-businesses in the region.

What are the expected impacts of the OJK's financial inclusion program on rural entrepreneurs?

The program is expected to improve financial literacy, increase access to financial services, and help rural entrepreneurs avoid high-interest loans from informal lenders, thus fostering economic growth in the region.