Circular Letter of the Financial Services Authority of the Republic of Indonesia Number 30/SEOJK.03/2021 Concerning the Business Plan of Sharia Microfinance Banks

To:
The Board of Directors of Sharia Microfinance Banks at their place.

COPY

CIRCULAR LETTER OF THE FINANCIAL SERVICES AUTHORITY OF THE REPUBLIC OF INDONESIA NUMBER 30 /SEOJK.03/2021

CONCERNING

BUSINESS PLAN OF SHARIA MICROFINANCE BANKS

In light of the establishment of the Financial Services Authority Regulation Number 15/POJK.03/2021 concerning the Business Plan of Rural Banks and Sharia Microfinance Banks (State Gazette of the Republic of Indonesia Year 2021 Number 190, Additional State Gazette of the Republic of Indonesia Number 6712), hereinafter referred to as the POJK on the Business Plan of BPR and BPRS, adjustments are required regarding the scope, format, and reporting procedures for the Business Plan of BPRS, which were previously regulated in the Financial Services Authority Circular Letter Number 53/SEOJK.03/2016 concerning the Business Plan of Sharia Microfinance Banks. The aforementioned adjustments to the scope, format, and reporting procedures for the Business Plan of BPRS are as follows:

I. GENERAL PROVISIONS

1. In order to achieve business objectives in accordance with the established vision and mission, BPRS must prepare a Business Plan by considering external and internal factors that may affect the sustainability of the BPRS business, the principle of prudence, the principles of healthy banking, and Sharia principles. The business plan must be prepared realistically, comprehensively, and considering potential risks so that it can be used as a basis for providing policy direction in carrying out business activities to achieve the BPRS vision and mission.

2. The Business Plan is a written document describing the development plans and business activities of the BPRS over a certain period and the strategy to realize such plans in accordance with the set targets and timeframes.

3. The Business Plan prepared by BPRS as referred to in item 2 must reflect the direction and policy of BPRS business development in the short term, medium term, and long term. The direction and policy of BPRS business development in the long term include the BPRS vision and mission.

"Short term" refers to a period of 1 (one) year.
"Medium term" refers to a period of 3 (three) years.
"Long term" refers to a period of 5 (five) years.

4. Considering the capital conditions of the BPRS industry, the projection period and planning of certain content scopes in the preparation of the BPRS Business Plan are differentiated based on core capital, namely:
   a. BPRS with core capital of less than IDR 50,000,000,000.00 (fifty billion rupiah); and b. BPRS with core capital of at least IDR 50,000,000,000.00 (fifty billion rupiah).

5. The calculation of days referred to in the POJK on the Business Plan of BPR and BPRS regarding the submission of the Business Plan, adjustment of the Business Plan, change of the Business Plan, and the Implementation and Supervision Report of the Business Plan refers to calendar days.

6. The Implementation and Supervision Report of the Business Plan is a report prepared by the Board of Directors and Board of Commissioners of the BPRS regarding the implementation of the Business Plan by the Board of Directors and the results of the Board of Commissioners' supervision over the implementation of the Business Plan up to a certain period.

II. SCOPE OF THE BUSINESS PLAN

1. In accordance with the POJK on the Business Plan of BPR and BPRS, the Business Plan must contain at least:
   a. Executive Summary
   This section must contain at least the BPRS vision and mission prepared for a period of 5 (five) years, plans and strategic steps to be taken by the BPRS explained for the short-term and medium-term periods, key financial indicators, and short-term and medium-term targets.

b. Business Strategy and Policy
This section must contain at least:

1. short-term plans regarding the analysis of the BPRS's position in business competition based on assets and/or location, risk management and corporate governance policies, strategies for fund mobilization and financing disbursement, and strategies for resolving strategic issues and/or fulfilling BPRS regulations; and
2. short-term and medium-term plans regarding the policy direction of the BPRS.

c. Financial Statement Projections
This section must contain at least projections of the financial position statement, profit and loss statement projections, and administrative account projections, as well as reasons or considerations regarding the setting of targets in the preparation of projections. BPRS with core capital of less than IDR 50,000,000,000.00 (fifty billion rupiah) submit projections up to 1 (one) year ahead, while BPRS with core capital of at least IDR 50,000,000,000.00 (fifty billion rupiah) submit projections up to 3 (three) years ahead.

d. Ratio Targets and Financial Positions
This section must contain at least targets for key financial ratios and targets for certain other positions, as well as reasons or considerations regarding the setting of targets in the preparation of projections. BPRS with core capital of less than IDR 50,000,000,000.00 (fifty billion rupiah) submit targets up to 1 (one) year ahead, while BPRS with core capital of at least IDR 50,000,000,000.00 (fifty billion rupiah)

submit targets up to 3 (three) years ahead.

e. Fund Mobilization Plan
This section must contain at least short-term plans regarding plans for mobilizing third-party funds and plans for mobilizing other funds.

f. Fund Disbursement Plan
This section must contain at least short-term plans regarding plans for financing disbursement based on the largest economic sector in financing disbursement, plans for financing disbursement based on usage type, plans for financing disbursement based on business type, and plans for financing disbursement based on contract type.

g. Capital Plan
This section must contain at least short-term and medium-term plans regarding plans for changes or additions to paid-up capital, donation capital, and/or revaluation of fixed assets.

h. Information Technology Development and Procurement Plan and Human Resource Development Plan This section must contain at least short-term plans regarding the development and procurement of fundamental information technology and human resource development plans containing at least human resource recruitment plans, human resource education and training plans, and plans for the utilization of outsourced labor.

i. Product Issuance and New Activity Implementation Plan
This section must contain at least short-term plans regarding the issuance of products and implementation of new activities that meet the category of new products in accordance with the Financial Services Authority Regulation concerning the organization of rural bank and Sharia microfinance bank products.

j. Office Network Development and/or Change Plan This section must contain at least short-term plans regarding plans for relocating the head office and/or branch office addresses, plans for opening and/or closing branch offices, and plans for changing the status of the office network.

k. Other Information
This section must contain at least information estimated to affect BPRS business activities, including plans for suspending business activities, products, or activities that have a material impact on financial performance or the risk profile of the BPRS, including information required by legislation to be included in the Business Plan.

2. The scope of the Business Plan established by the Financial Services Authority as referred to in item 1 is minimum, so BPRS may expand the scope as needed while still considering item I.1.

3. The preparation of the Business Plan refers to the guidelines as contained in the Appendix which is an integral part of this Financial Services Authority Circular Letter.

III. ADJUSTMENT AND CHANGE OF BUSINESS PLAN

1. The Financial Services Authority may request BPRS to make adjustments to the Business Plan submitted by the BPRS, including:
   a. targets or work programs submitted in the BPRS Business Plan are assessed to affect or endanger the sustainability of BPRS business activities; and/or b. the Business Plan submitted by the BPRS does not yet contain or accommodate strategic matters established due to banking regulatory policies, government policies or programs, or other strategic matters.

2. BPRS may make changes to the Business Plan in the event of external and internal factors that significantly affect operational activities and/or affect BPRS performance, as follows:
   a. external factors include economic conditions, government policies, competition with financial service institutions or other entities, and developments in information technology. For example:

1. A decline in regional economic growth causes a decrease in financing demand in the trade sector, which is a priority for BPRS financing disbursement, thereby potentially affecting the repayment ability of debtors in that sector.
   Based on these conditions, BPRS can change the priority of financing disbursement to other sectors.
2. There are regulations, fatwas from the National Sharia Council of the Indonesian Ulema Council, or government programs related to financing disbursement policies through BPRS.
3. There are natural, non-natural, or social disasters that affect economic conditions, thereby affecting the assumptions used in preparing financial projections.

b. internal factors include financial conditions, management and human resources, and other infrastructure capabilities including information technology. For example:

1. BPRS experiences a deterioration in financial performance resulting in capital issues.
2. There is a change in management and/or control of the BPRS causing a change in BPRS business strategy.
3. There is a plan to organize new products that can support BPRS business development but are not yet included in the Business Plan submitted by the BPRS.

c. external and internal factors as referred to in letters a and b are assessed by the BPRS to have a material impact on operational activities and/or financial conditions, which is reflected in the BPRS financial reports or in cases where it affects BPRS financial performance.

IV. IMPLEMENTATION AND SUPERVISION REPORT OF THE BUSINESS PLAN

1. In accordance with the POJK on the Business Plan of BPR and BPRS, the Implementation and Supervision Report of the Business Plan is submitted semi-annually by the BPRS, namely:
   a. the period from January to June is submitted no later than the end of July of the current year; and b. the period from July to December is submitted no later than the end of January of the following year.

2. The Implementation and Supervision Report of the Business Plan must contain at least:
   a. an explanation of the achievement of the Business Plan in the form of a comparison between the plan and the realization; b. an explanation of the causes and obstacles resulting in differences between the plan and the realization of the Business Plan;
   c. follow-up efforts that have been and will be carried out to improve the realization achievement of the Business Plan;
   d. the results of analysis or identification and the opinion of the Board of Commissioners regarding supervision over the implementation of the Business Plan by the Board of Directors; and e. supervision steps that have been and will be taken by the Board of Commissioners in the Business Plan supervision process.

3. The preparation of the Implementation and Supervision Report of the Business Plan refers to the guidelines as contained in the Appendix which is an integral part of this Financial Services Authority Circular Letter.

V. REPORTING

1. The procedures for submitting the Business Plan, adjusting the Business Plan, changing the Business Plan, and the Implementation and Supervision Report of the Business Plan are carried out in accordance with the Financial Services Authority Regulation concerning reporting by rural banks and Sharia microfinance banks through the Financial Services Authority reporting system.

2. BPRS prepares the Business Plan and the Implementation and Supervision Report of the Business Plan in text file (txt) and/or portable document format (pdf) and submits them to the Financial Services Authority through the Financial Services Authority reporting system.

VI. OTHER PROVISIONS

1. The Appendix in this Financial Services Authority Circular Letter serves as a guideline for preparing the Business Plan and the Implementation and Supervision Report of the Business Plan.

This copy is in accordance with the original
Director of Law 1
Legal Department signed
Mufli Asmawidjaja

2. The Appendix in this Financial Services Authority Circular Letter is an integral part of this Financial Services Authority Circular Letter.

VII. TRANSITIONAL PROVISIONS

Plans to change the status of the BPRS office network, namely increasing and/or decreasing the status of the office network in format 10.00 Office Network Development and/or Change Plan in the Appendix of this Financial Services Authority Circular Letter, are reported in cases where they are regulated in the Financial Services Authority Regulation concerning Sharia microfinance banks.

VIII. CLOSING

1. Upon the commencement of this Financial Services Authority Circular Letter, Financial Services Authority Circular Letter Number 53/SEOJK.03/2016 concerning the Business Plan of Sharia Microfinance Banks is revoked and declared invalid.

2. The provisions in this Financial Services Authority Circular Letter take effect on the date of determination.

Determined in Jakarta on December 14, 2021

EXECUTIVE HEAD OF BANKING SUPERVISOR
FINANCIAL SERVICES AUTHORITY
OF THE REPUBLIC OF INDONESIA, signed
HERU KRISTIYANA

APPENDIX
CIRCULAR LETTER OF THE FINANCIAL SERVICES AUTHORITY OF THE REPUBLIC OF INDONESIA NUMBER 30 /SEOJK.03/2021

CONCERNING

BUSINESS PLAN OF SHARIA MICROFINANCE BANKS

GUIDELINES FOR PREPARING THE BUSINESS PLAN AND THE IMPLEMENTATION AND SUPERVISION REPORT OF THE BUSINESS PLAN

TABLE OF CONTENTS

I. GUIDELINES FOR PREPARING THE BUSINESS PLAN................................. 5
A. Preparation of the Business Plan by the Board of Directors…………………………… 5

1. Executive Summary ......................................................... 5
2. Business Strategy and Policy ........................................... 6
3. Financial Statement Projections.............................................. 8
   a. Format of Financial Position Statement Projections................. 10
   b. Format of Profit and Loss Statement Projections ................. 15
   c. Format of Administrative Account Projections .................... 26
4. Ratio Targets and Financial Positions ........................................ 29
5. Fund Mobilization Plan .......................................... 36
6. Fund Disbursement Plan ................................................ 36
   a. Plan for Financing Disbursement Based on the Largest
   Economic Sector in Financing Disbursement ..... 37
   b. Plan for Financing Disbursement Based on Usage Type................................................................ 38
   c. Plan for Financing Disbursement Based on Business Type......................................................................... 38
   d. Plan for Financing Disbursement Based on Contract Type.......................................................................... 39
7. Capital Plan ........................................................ 41
8. Information Technology Development and Procurement Plan
   and Human Resource Development Plan....................... 43
   a. Plan for Fundamental Information Technology
   Development and Procurement.............................. 43
   b. Plan for Human Resource Development........ 44

1. Plan for Human Resource Recruitment....... 44
2. Plan for Human Resource Education and Training..................................... 44
3. Plan for Utilization of Outsourced Labor ... 45

9. Product Issuance and New Activity Implementation Plan
   ......................................................................................... 46
10. Office Network Development and/or Change Plan
    .............................................................................. 48
11. Other Information ............................................................. 49

B. Approval of the Business Plan by the Board of Commissioners……………… 49
II. GUIDELINES FOR PREPARING THE IMPLEMENTATION AND
SUPERVISION REPORT OF THE BUSINESS PLAN................................................. 50

I. GUIDELINES FOR PREPARING THE BUSINESS PLAN
A. Preparation of the Business Plan by the Board of Directors

In accordance with the POJK on the Business Plan of BPR and BPRS, the Board of Directors is required to prepare a Business Plan every year, which must contain at least:

1. Executive Summary
   This section contains a general explanation of the summary of the Business Plan submitted by the BPRS, namely:
   a. BPRS Vision and Mission
   Vision is the goal that the BPRS wants to achieve in the medium or long term.
   Mission is a statement used to describe the objectives of the BPRS.
   BPRS vision and mission are prepared for the long term.

b. Plans and Strategic Steps to be Taken by the BPRS Plans and strategic steps to be taken by the BPRS are explained for the short term and medium term.

c. Key Financial Indicators
Key financial indicators must contain at least an explanation of BPRS performance for the short-term period considered in the assessment of the BPRS health level in accordance with Financial Services Authority regulations governing the assessment of BPR and BPRS health levels.

d. Short-Term and Medium-Term Targets
Short-term targets are BPRS business activity targets for the next 1 (one) year, which must contain at least a decrease in non-performing financing, an increase in intermediation function, an increase in efficiency, and BPRS risk management and corporate governance policies. Medium-term targets are BPRS business activity targets for the next 3 (three) years, which must contain at least efforts to strengthen capital.

The preparation of the executive summary follows the format as follows:

Format 01.00
Executive Summary
BPRS Name :
Address :
City/Regency :

Code Column Description
BPRS Vision 0111
BPRS Mission 0112
Plans and Strategic Steps
Short Term
Plans and Strategic Steps
Medium Term
Key Financial Indicators a. Capital b. Asset Quality
c. Profitability
d. Liquidity e. Others
Short-Term Targets 0141
Medium-Term Targets 0142

2. Business Strategy and Policy
   This section contains a qualitative explanation regarding:
   a. Analysis of BPRS Position in Business Competition Based on Assets and/or Location The analysis of the BPRS position in business competition based on assets and/or location is explained for the short-term period. To conduct a position analysis, BPRS can use SWOT analysis, namely Strength, Weakness, Opportunity, and Threat, in facing business competition with financial service institutions and/or other entities, including other BPRs and/or BPRSs. To conduct a position analysis in business competition based on location, BPRS can use the boundaries of regencies, cities, and/or provinces.

b. BPRS Policy Direction
BPRS policy direction is explained for the short-term and medium-term periods, including general information on BPRS policies established by management in the future development of BPRS business, such as business development strategies in the digital era, plans for the merger, consolidation, and acquisition of BPRSs, and policy directions in strengthening the application of Sharia principles. Included in business development strategies are the development of information technology and strategies to anticipate changes in external conditions.

c. BPRS Risk Management and Corporate Governance Policy
BPRS risk management and corporate governance policy is explained for the short-term period. The application of risk management and corporate governance policies is in accordance with the Financial Services Authority Regulation concerning the application of corporate governance for Sharia microfinance banks and the Financial Services Authority Regulation concerning the application of corporate governance for rural banks, including targets for the assessment of the application of risk management and corporate governance.

d. Fund Mobilization and Financing Disbursement Strategy This section elaborates on the explanation for the short-term period regarding the BPRS strategy to mobilize funds and realize financing disbursement plans, including information on targets, marketing and revenue strategies, and sources of third-party fund mobilization and other fund mobilization.

e. Strategy for Resolving Strategic Issues and/or Fulfilling BPRS Regulations This section contains an explanation for the short-term period regarding information on strategic steps to resolve issues affecting the health level or supervision status of the BPRS, such as steps to resolve problematic financing that has or may affect performance or the health level of the BPRS. In addition, this section also contains information and strategic steps of the BPRS in fulfilling BPRS regulations, such as fulfilling the minimum core capital in accordance with the Financial Services Authority Regulation concerning the fulfillment of the minimum capital adequacy ratio requirement and the fulfillment of minimum core capital for Sharia microfinance banks, and fulfilling the obligation to establish certain work units in accordance with the Financial Services Authority Regulation concerning the application of corporate governance for Sharia microfinance banks.

The preparation of business strategy and policy follows the format as follows:

Format 02.00
Business Strategy and Policy

Code Column Description
Analysis of BPRS Position in
Business Competition Based on
Assets and/or Location
BPRS Policy Direction 0220
BPRS Risk Management and
Corporate Governance Policy
Fund Mobilization Strategy 0241
Financing Disbursement Strategy 0242
Strategy for Resolving
BPRS Strategic Issues
Strategy for Fulfilling BPRS
Regulations

3. Financial Statement Projections
   This section contains a quantitative and qualitative explanation regarding projections of the financial position statement, profit and loss statement projections, and administrative account projections, as well as reasons or considerations regarding the setting of targets in the preparation of projections. Financial position statements, profit and loss statements, and administrative accounts are in accordance with the Financial Services Authority Regulation concerning reporting by rural banks and Sharia microfinance banks through the Financial Services Authority reporting system.

a. BPRS with core capital of less than IDR 50,000,000,000.00 (fifty billion rupiah) submit projections up to 1 (one) year ahead. Financial statement projections are explained for:

1. actual position at the end of October of the year of Business Plan preparation;
2. projection at the end of December of the year of Business Plan preparation; and
3. projection 1 (one) year ahead presented semi-annually.

b. BPRS with core capital of at least IDR 50,000,000,000.00 (fifty billion rupiah) submit projections up to 3 (three) years ahead. Financial statement projections are explained for:

1. actual position at the end of October of the year of Business Plan preparation;
2. projection at the end of December of the year of Business Plan preparation;
3. projection 1 (one) year ahead presented semi-annually; and
4. projection at the end of the second and third years presented annually.

The preparation of financial statement projections follows the format as follows:

a. Format of Financial Position Statement Projections

Format 03.10
Financial Position Statement Projections
(in rupiah units)

Position Code Oct Balance
(X-1)
Projection
Dec X-1 Jun X Dec X Dec X+1 a Dec X+2 a
ASSETS

1. Cash in Rupiah 101
2. Cash in Foreign Currency 102
3. Placements at Bank Indonesia 110
4. Placements at Other Banks 120
5. Receivables 130
   a. Murabahah Receivables 131 b. Deferred Murabahah Margin Income -/- 132
   c. Istishna Receivables 141
   d. Deferred Istishna Margin Income -/- 142 e. Multijasa Receivables 143

Items	Code	Balance Oct (X-1)	Projection Dec X-1	Jun X	Dec X	Dec X+1 a	Dec X+2 a
f. Deferred Multijasa Margin Income -/-	144
g. Qardh Receivables	150
h. Lease Receivables	160
6. Profit Sharing Financing	170
a. Mudarabah	171
b. Musyarakah	172
c. Others	173
7. Lease Financing	180
a. Ijarah Assets	181
b. Accumulated Depreciation/Amortization -/-	182
c. Allowance for Impairment Losses -/-	183
8. Allowance for Productive Asset Write-Offs	190
a. General	191
b. Specific	192
9. Salam	200

Items	Code	Balance Oct (X-1)	Projection Dec X-1	Jun X	Dec X	Dec X+1 a	Dec X+2 a
10. Istishna Assets Under Completion	211
Istishna Installments -/-	212
11. Inventory	220
12. Foreclosed Assets	230
13. Fixed Assets and Inventory	241
Accumulated Depreciation and Allowance for Impairment Losses -/-	242
14. Intangible Assets	251
Accumulated Amortization and Allowance for Impairment Losses -/-	252
15. Other Assets	270
Total Assets	290
Liabilities and Equity
1. Immediate Liabilities	310
2. Wadiah Savings	320
3. Non-Profit Sharing Investment Funds	330
a. Savings	331
b. Deposits	332
4. Liabilities to Bank Indonesia	340

Items	Code	Balance Oct (X-1)	Projection Dec X-1	Jun X	Dec X	Dec X+1 a	Dec X+2 a
5. Liabilities to Other Banks	350
6. Received Financing	360
7. Other Liabilities	380
8. Profit Sharing Investment Funds	390
a. Savings	391
b. Deposits	392
c. Liabilities to other banks	393
d. Received Financing	394
9. Paid-up Capital	410
a. Authorized Capital	411
b. Unpaid Capital -/-	412
10. Estimated Additional Paid-up Capital	420
a. Agio	421
b. Disagio -/-	422
c. Contributed Capital	423
d. Capital Deposit Funds	424
e. Other Additional Paid-up Capital	430

Items	Code	Balance Oct (X-1)	Projection Dec X-1	Jun X	Dec X	Dec X+1 a	Dec X+2 a
i. Increasing Factors	431
ii. Decreasing Factors	432
11. Revaluation Difference of Fixed Assets	440
12. Reserves	450
a. General	451
b. Specific Purpose	452
13. Profit/Loss	460
a. Previous Years	470
i. Profit	471
ii. Loss -/-	472
b. Current Year	480
i. Profit	481
ii. Loss -/-	482
Total Liabilities and Equity	490

Notes:
X-1 is the Year of Report Preparation
X is the First Year of Business Plan Position
X+1 is the Second Year of Business Plan Position X+2 is the Third Year of Business Plan Position a for Sharia Rural Banks with core capital of at least IDR 50,000,000,000.00 (fifty billion rupiah)

b. Profit and Loss Statement Projection Format

Format 03.20
Profit and Loss Statement Projection
(in rupiah)

Items	Code	Balance Oct (X-1)	Projection Dec X-1	Jun X	Dec X	Dec X+1 a	Dec X+2 a
I. Income From Fund Distribution	10000
1. From Bank Indonesia	10100
2. From Placements in Other Sharia Banks	11000
a. Wadiah Bonus	11100
i. Current Account	11110
ii. Savings	11120
b. Profit Sharing	11200

Reasons or Considerations:
(To be filled with reasons or considerations in setting targets as the basis for preparing projected financial position statements, including regional inflation projections, Regional Gross Domestic Product (RGDP), regional economic growth, regional population growth, financing and third-party fund growth in the local area, return rates, and/or others).

Items	Code	Balance Oct (X-1)	Projection Dec X-1	Jun X	Dec X	Dec X+1 a	Dec X+2 a
i. Current Account	11210
ii. Savings	11220
iii. Deposits	11230
c. Others	11300
3. Financing Provided	12000
a. To other banks	12100
i. Receivables Income	12110
a) Murabahah	12111
b) Istishna	12112
c) Multijasa	12113
d) Ujrah	12114
i. Pawn	12115
ii. Others	12116
e) Others	12117
ii. Profit Sharing Income	12120
a) Mudarabah	12121
b) Musyarakah	12122
c) Others	12123

Items	Code	Balance Oct (X-1)	Projection Dec X-1	Jun X	Dec X	Dec X+1 a	Dec X+2 a
iii. Lease Income	12130
a) Ijarah Income	12131
b) Depreciation of Ijarah Assets -/-	12132
b. To third parties not banks	12200
i. Income From Receivables	12210
a) Murabahah	12211
b) Istishna	12212
c) Multijasa	12213
d) Ujrah	12214
i. Pawn	12215
ii. Others	12216
e) Others	12217
ii. Profit Sharing Income	12220
a. Mudarabah	12221
b. Musyarakah	12222
c. Others	12223
iii. Lease Income	12230

Items	Code	Balance Oct (X-1)	Projection Dec X-1	Jun X	Dec X	Dec X+1 a	Dec X+2 a
a. Ijarah Income	12231
b. Depreciation of Ijarah Assets	12232
iv. Salam Income	12240
4. Correction of Margin/Profit Sharing/Lease	14000
Income -/-
II. Profit Sharing For Investment Fund Owners	15000
-/-
1. Non-Profit Sharing	15100
a. To Other Banks	15110
i. Savings	15111
ii. Deposits	15112
iii. Received Financing	15113
iv. Others	15114
b. To Third Parties Not Banks	15120
i. Savings	15121
ii. Deposits	15122
iii. Received Financing	15123
iv. Others	15124

Items	Code	Balance Oct (X-1)	Projection Dec X-1	Jun X	Dec X	Dec X+1 a	Dec X+2 a
2. Profit Sharing	15200
a. To Other Banks	15210
i. Savings	15211
ii. Deposits	15212
iii. Received Financing	15213
iv. Others	15214
b. To Third Parties Not Banks	15220
i. Savings	15221
ii. Deposits	15222
iii. Received Financing	15223
iv. Others	15224
III. Income After Profit Sharing Distribution	19000
(I – II)
IV. Other Operating Income	20000
1. Bank Income as Mudharib in Restricted	21000
Investment
2. Service Fees	22000
a. Wakalah fee income	22100

Items	Code	Balance Oct (X-1)	Projection Dec X-1	Jun X	Dec X	Dec X+1 a	Dec X+2 a
b. Kafalah fee income	22200
c. Other service income	22300
3. Foreign Exchange Sale Profit	23000
4. AIL Recovery	24000
5. Correction of Other Asset Impairment	25000
Allowance
6. Ijarah Asset Disposal Profit	26000
7. Others	27000
V. Operating Expenses	30000
1. Remuneration Expense to Bank Indonesia	30100
2. Wadiah Deposit Bonus	30200
a. Other Banks	30210
b. Third Parties Not Banks	30220
3. Insurance and Guarantee Premiums	30300
a. Financing	30310

Items	Code	Balance Oct (X-1)	Projection Dec X-1	Jun X	Dec X	Dec X+1 a	Dec X+2 a
b. Third-Party Fund Guarantee	30320
c. Others	30390
4. Asset Write-Off Allowance Expense	30400
a. Placements in Other Banks	30410
b. Receivables	30420
i. Murabahah Receivables	30421
ii. Istishna Receivables	30422
iii. Multijasa Receivables	30423
iv. Lease Receivables	30424
v. Qardh Receivables	30425
c. Profit Sharing Financing	30430
i. Mudarabah	30431
ii. Musyarakah	30432
iii. Others	30433
d. Others	30490
5. Impairment Loss of Other Assets	30500

Items	Code	Balance Oct (X-1)	Projection Dec X-1	Jun X	Dec X	Dec X+1 a	Dec X+2 a
a. Ijarah Assets	30510
b. Fixed Assets & Inventory	30520
c. Intangible Assets	30530
d. Foreclosed Assets	30540
e. Inventory	30550
6. Depreciation/Amortization	30600
a. Fixed Assets & Inventory	30610
b. Intangible Assets	30620
c. Others	30690
7. Maintenance and Repair of Ijarah Assets	30700
8. Loss on Disposal of Ijarah Assets	30800
9. Loss on Disposal of Foreclosed Assets	30900
10. Labor	31000
a. Board of Commissioners and Sharia	31010
Supervisory Board (DPS)
b. Directors	31020
c. Employees	31030

Items	Code	Balance Oct (X-1)	Projection Dec X-1	Jun X	Dec X	Dec X+1 a	Dec X+2 a
d. Others	31040
11. Education & Training	31100
a. Board of Commissioners and DPS	31110
b. Directors	31120
c. Employees	31130
d. Others	31140
12. Research & Development	31200
13. Rent	31300
14. Marketing	31400
a. Advertising	31410
b. Others	31420
15. Goods & Services	31500
a. Information Technology (IT) Management	31510
b. Others	31520
16. Loss from Foreign Exchange Sales	31600
17. Others	31900
VI. 1. Operating Profit	40000

Items	Code	Balance Oct (X-1)	Projection Dec X-1	Jun X	Dec X	Dec X+1 a	Dec X+2 a
2. Operating Loss	40100
VII. Non-Operating Income	41000
1. Profit from Sale of Fixed Assets and	41100
Inventory
2. Foreign Exchange Difference Profit	41200
3. Others	41900
VIII. Non-Operating Expenses	42000
1. Loss from Sale of Fixed Assets and	42100
Inventory
2. Foreign Exchange Difference Loss	42200
3. Others	42900
IX. 1. Non-Operating Profit	43000
2. Non-Operating Loss	43100
X. 1. Current Year Profit	44000
2. Current Year Loss	44100
XI. Estimated Income Tax	45000
XII. Deferred Tax	46000
1. Deferred Tax Income	46100
2. Deferred Tax Expense	46200

Items	Code	Balance Oct (X-1)	Projection Dec X-1	Jun X	Dec X	Dec X+1 a	Dec X+2 a
XIII. Zakat	47000
XIV. Net Profit/Loss	48000
1. Net Profit	48100
2. Net Loss	48200

Notes:
X-1 is the Year of Report Preparation
X is the First Year of Business Plan Position
X+1 is the Second Year of Business Plan Position X+2 is the Third Year of Business Plan Position a for Sharia Rural Banks with core capital of at least IDR 50,000,000,000.00 (fifty billion rupiah) Reasons or Considerations:
(To be filled with reasons or considerations in setting targets as the basis for preparing projected profit and loss statements, including regional inflation projections, RGDP, regional economic growth, regional population growth, financing and third-party fund growth in the local area, return rates, and/or others).

c. Administrative Account Projection Format

Format 03.30
Administrative Account Projection
(in rupiah)

Items	Code	Balance Oct (X-1)	Projection Dec X-1	Jun X	Dec X	Dec X+1 a	Dec X+2 a
I. COMMITMENT CLAIMS	500
1. Undrawn Financing Facilities	510
a. Bank	511
b. Others	512
2. Others	520
II. COMMITMENT LIABILITIES	600
1. Undrawn Profit Sharing Financing Facilities	610
a. Bank	611
b. Others	612
2. Others	620
III. CONTINGENT CLAIMS	700
1. Received Guarantees (Kafalah)	710
2. Income Under Completion	720

Items	Code	Balance Oct (X-1)	Projection Dec X-1	Jun X	Dec X	Dec X+1 a	Dec X+2 a
a. Murabahah	721
b. Istishna	722
c. Multijasa	723
d. Lease	724
e. Profit sharing	725
f. Others	726
3. Others	730
IV. OTHERS	800
1. Productive Assets Written Off	810
a. Productive Assets	811
b. Recovered or Successfully Collected	812
Written-Off Productive Assets
2. Productive Assets Written Off from Claims	820
3. Fund Channeling	830

Notes:
X-1 is the Year of Report Preparation
X is the First Year of Business Plan Position
X+1 is the Second Year of Business Plan Position

X+2 is the Third Year of Business Plan Position a for Sharia Rural Banks with core capital of at least IDR 50,000,000,000.00 (fifty billion rupiah) Reasons or Considerations:
To be filled with reasons or considerations in setting targets as the basis for preparing projected administrative accounts, including regional inflation projections, RGDP, regional economic growth, regional population growth, financing and third-party fund growth in the local area, return rates, and/or others).

4. Target Ratios and Financial Positions

This section contains quantitative and qualitative explanations regarding target key financial ratios and other specific position ratios, as well as reasons or considerations for setting targets in the preparation of target ratios and financial positions.

Key financial ratios include ratios that can provide information for assessing the health level of Sharia Rural Banks (BPRS) in accordance with the Financial Services Authority regulations governing the assessment of the health level of Rural Banks (BPR) and BPRS. Other specific position ratios include:
a. ratio of financing for micro, small, and medium enterprises to total financing; b. ratio of education and training funds to total labor expenses of the previous year;
c. ratio of realized education and training funds to total budgeted education and training funds;
d. ratio of Foreclosed Assets (AYDA) to financing; and e. ratio of realized AYDA settlement to AYDA.

The preparation of target ratios and financial positions is as follows:
a. BPRS with core capital of less than IDR 50,000,000,000.00 (fifty billion rupiah) submit projections for up to 1 (one) year ahead.

Projected target ratios and financial positions are explained for:

1. actual position at the end of October of the business plan preparation year;
2. projected position at the end of December of the business plan preparation year; and
3. projected position 1 (one) year ahead presented semi-annually.

b. BPRS with core capital of at least IDR 50,000,000,000.00 (fifty billion rupiah) submit projections for up to 3 (three) years ahead.

Projected target ratios and financial positions are explained for:

1. actual position at the end of October of the business plan preparation year;
2. projected position at the end of December of the business plan preparation year;
3. projected position 1 (one) year ahead presented semi-annually; and
4. projected position at the end of the second and third years presented annually.

The preparation of projected target ratios and financial positions follows the format below:

Format 04.00
Target Ratios and Financial Positions

Items	Code	Performance Oct (X-1)	Projection Dec X-1	Jun X	Dec X	Dec X+1 a	Dec X+2 a
A. Key Financial Ratios
Minimum Capital Adequacy Requirement (MCAR) (%) b	0411110
a. Capital (IDR)	0411111
b. Risk-Weighted Assets (RWA) (IDR)	0411112
Projected Capital Adequacy Ratio (%) c	0411120
a. CAR (X+1)	0411121
b. CAR (X)	0411122
Core Capital to Total Capital Ratio (%) b	0411130
a. Core Capital (IDR)	0411131
b. Capital (IDR)	0411132
Core Capital to Non-Performing Productive Assets Ratio (%) c	0411140
a. Core Capital (IDR)	0411141
b. Non-Performing Productive Assets (IDR)	0411142
Productive Asset Quality Ratio (PAQR) (%) c	0411210
a. Classified Productive Assets (IDR)	0411211
b. Productive Assets (IDR)	0411212
Allowance for Impairment Losses (AIL) to Required AIL Ratio (%) h	0411220
a. AIL (IDR)	0411221
b. Required AIL (IDR)	0411222

Items	Code	Performance Oct (X-1)	Projection Dec X-1	Jun X	Dec X	Dec X+1 a	Dec X+2 a
Net Non-Performing Financing (NPF) Ratio (%) e	0411230
a. Non-Performing Financing less AIL (IDR)	0411231
b. Total Financing (IDR)	0411232
Gross Non-Performing Financing (NPF) Ratio (%) c	0411240
a. Non-Performing Financing (IDR)	0411241
b. Total Financing (IDR)	0411242
Income-Generating Asset Ratio (%) c	0411250
a. Productive Assets less Non-Performing Assets (IDR)	0411251
b. Total Assets (IDR)	0411252
Net Primary Operating Margin Ratio (%) c	0411260
a. Primary Operating Income less Mudarabah Fund Profit Sharing and	0411261
Primary Operating Expenses (IDR)
b. Productive Assets (IDR)	0411262
Return on Asset (ROA) Ratio (%) c	0411310
a. Profit Before Tax (IDR)	0411311
b. Total Assets (IDR)	0411312
Operating Expense to Operating Income Ratio (BOPO) (%) c	0411320
a. Total Operating Expenses (IDR)	0411321
b. Total Operating Income (IDR)	0411322
Financing to Deposit Ratio (FDR) (%) e	0411410
a. Total Financing (IDR)	0411411
b. Total Third-Party Non-Bank Funds (IDR)	0411412

Items	Code	Performance Oct (X-1)	Projection Dec X-1	Jun X	Dec X	Dec X+1 a	Dec X+2 a
Cash Ratio (CR) (%) e	0411420
a. Liquid Assets (IDR)	0411421
b. Current Liabilities	0411422
Short Term Mismatch (STM) Ratio (%) c	0411430
a. Current Assets 3 (three) months (IDR)	0411431
b. Current Liabilities 3 (three) months (IDR)	0411432
Net Return Ratio (NI) (%) c	0411440
a. Fund Distribution Income After Profit Sharing and Bonus	0411441
b. Average Productive Assets	0411442
Liquid Assets to Total Assets Ratio (%) e	0411450
a. Liquid Assets (IDR)	0411451
b. Total Assets (IDR)	0411452
B. Other Specific Position Ratios
Micro, Small, and Medium Enterprises (MSME) Financing to Total	0412100
Financing Ratio (%) f
a. Total MSME Financing (IDR)	0412110
b. Total Financing (IDR)	0412120
Education and Training Fund Ratio
Education and Training Fund to Total Labor Expenses of Previous	0412210
Year Ratio (%) g
a. Total Education and Training Funds (IDR)	0412211
b. Total Labor Expenses of Previous Year (IDR)	0412212

Items	Code	Performance Oct (X-1)	Projection Dec X-1	Jun X	Dec X	Dec X+1 a	Dec X+2 a
Realized Education and Training Fund to Total Budgeted Education	0412220

Preparation of financing distribution plans based on contract types follows the format below:

Format 06.40
Financing Distribution Plan by Contract Type
(in rupiah units)

Contract Type Code
Debit Balance
Oct (X-1)
Projection
Dec X-1
Jun X
Dec X

A. Receivables 06410

1. Murabahah 06411
2. Istishna 06412
3. Multijasa 06413
4. Qardh 06414
   B. Financing 06420
5. Mudarabah 06421
6. Musyarakah 06422
7. Others 06423
   C. Leasing 06430
8. Ijarah 06431
9. IMBT 06432
   D. Salam 06440
   Total 06400

Note:
X-1 is the Report Preparation Year
X is the First Year of the Business Plan Position

Reasons/Considerations and Strategy:
(Filled with reasons or considerations in preparing the financing distribution plan by contract type and strategies to realize the financing distribution plan by contract type).

7. Capital Plan
   This section contains quantitative and qualitative explanations for the medium-term period regarding plans for changes or additions to paid-in capital, donation capital, and/or revaluation of fixed assets. Included in the capital plan are strategies and information regarding changes or additions to capital. The capital plan is explained for:
   a. actual position at the end of October of the Business Plan preparation; b. plan at the end of December in the year of Business Plan preparation;
   c. plan for the next 1 (one) year presented semi-annually; and
   d. plan for the end of the second and third years presented annually.

Preparation of the capital plan follows the format below:

Format 07.00
Capital Plan

Capital Type (Code) a
Name of Shareholder
Performance Oct (X-1)
Projection Dec X-1
Jun X
Dec X
Dec X+1
Dec X+2

Note:
X-1 is the Report Preparation Year
X is the First Year of the Business Plan Position X+1 is the Second Year of the Business Plan Position X+2 is the Third Year of the Business Plan Position

a Filled with code 10 for paid-in capital, code 21 for donation capital and/or code 25 for revaluation of fixed assets

Strategy and Information:
(Filled with strategy and information regarding changes or additions to capital).

8. Plan for Development and Procurement of Fundamental Information Technology and Human Resource Development
   This section contains qualitative and/or quantitative explanations for the short-term period regarding plans for the development and procurement of fundamental information technology and plans for human resource development which must at least contain plans for human resource recruitment, human resource education and training plans, and plans for the utilization of outsourced labor.

a. Plan for Development and Procurement of Fundamental Information Technology Plans for the development and procurement of fundamental information technology must comply with Financial Services Authority Regulations regarding standards for the implementation of information technology for rural credit banks and Sharia people's financing banks.

Preparation of plans for the development and procurement of fundamental information technology follows the format below:

Format 08.10
Plan for Development and Procurement of Fundamental Information Technology

Plan Type (Code) a
Description
Address

Note:
a Filled with code:
01 for changes to core banking applications;
02 for significant changes to information technology configuration or core banking applications; 03 for data center relocation; 04 for disaster recovery center relocation; 05 for cooperation with information technology service providers; and/or 06 for other fundamental information technology development.

b. Human Resource Development Plan
Human resource development plans include, among others, human resource recruitment plans at the Sharia People's Financing Bank (BPRS), human resource education and training plans, and plans for the utilization of outsourced labor, as follows:

1. Human Resource Recruitment Plan
   This section contains qualitative and quantitative explanations regarding human resource recruitment plans.

Preparation of human resource recruitment plans follows the format below:

Format 08.21
Human Resource Recruitment Plan

Field of Work (Code) a
Implementation Time Target (Code) b
Number of Employees Recruited c
Cost d

Note:
a Filled with code:
101 for marketing;
102 for information technology;
103 for internal audit;
104 for bookkeeping;
105 for customer service;
106 for cashier;
107 for Sharia compliance; and/or
199 for others. b Filled with code:
01 for quarter 1;
02 for quarter 2;
03 for quarter 3; or
04 for quarter 4. c Filled with units. d Filled with rupiah units.

2. Human Resource Education and Training Plan
   Preparation of human resource education and training plans is done by considering, among others, Financial Services Authority Regulations regarding the obligation to provide funds for education and training for the development of human resources for rural credit banks and Sharia people's financing banks.

Preparation of human resource education and training plans follows the format below:

Format 08.22
Human Resource Education and Training Plan

Field or Education and Training Needs (Code) a Implementation Time Target (Code) b Number of Human Resources Participated c Cost and Education and Training Budget d

Note:
a Filled with code:
101 for Board of Directors certification;
102 for Board of Commissioners certification;
103 for financing;
104 for risk management;
105 for information technology training;
106 for bookkeeping;
107 for human resource management;
108 for ISO certification;
109 for audit training;
110 for Sharia training;
199 for others;
201 for excellent service;
202 for problem solving;
203 for time management;
204 for leadership;
205 for financial planning; and/or
299 for others. b Filled with code:
01 for quarter 1;
02 for quarter 2;
03 for quarter 3; or
04 for quarter 4. c Filled with units. d Filled with rupiah units.

3. Plan for Utilization of Outsourced Labor
   Outsourcing is the transfer of part of the implementation of work to a service provider company through a contracting agreement and/or through a labor supply service agreement in accordance with statutory regulations.

Plans for the utilization of outsourced labor include, among others, plans for the utilization of labor outside of permanent labor.

Preparation of plans for the utilization of outsourced labor follows the format below:

Format 08.23
Plan for Utilization of Outsourced Labor

Field of Work (Code) a
Reason for Utilization of Outsourced Labor
Number of Outsourced Labor b
Name of Outsourced Labor Provider Company
Duration of Agreement with Outsourced Labor Provider Company

Note:
a Filled with code:
101 for cleaning staff;
102 for messengers;
103 for debt collectors;
104 for marketing;
105 for security personnel;
106 for customer service;
107 for cashier;
108 for technicians; and/or
199 for others. b Filled with units.

9. Plan for Product Issuance and Implementation of New Activities
   This section contains explanations regarding plans for the implementation of product issuance and new activities which are explained for the short-term period meeting the category of new products in accordance with Financial Services Authority Regulations regarding the implementation of products for rural credit banks and Sharia people's financing banks.

Plans for business activity implementation consider, among others, Financial Services Authority Regulations regarding the application of risk management for Sharia people's financing banks.

Preparation of plans for new business activity implementation follows the format below:

Format 09.00
Plan for New Business Activity Implementation

Type of Business Activity
Type of Implementation Mechanism (Code) a
General Description b
Implementation Time (Code) c
Benefits
Needs
Investment Cost
CAPEX
OPEX
First Year
Connection to BPRS Business Strategy
Inherent Risk d
Risk Mitigation for BPRS

Note:
a Filled with code:
01 for reporting;
02 for approval;
03 for limited trial; and/or
04 for instant approval. b General description includes the contract used in the BPRS product. c Filled with code:
01 for quarter 1;
02 for quarter 2;
03 for quarter 3; and/or
04 for quarter 4. d Explanations of more detailed descriptions can be attached on a separate sheet.

10. Plan for Development and/or Changes to Office Network
    This section contains qualitative and quantitative explanations for the short-term period regarding plans for the relocation of the head office and/or branch office addresses, plans for the opening and/or closing of branch offices, and plans for changes to the status of the office network. Explanations of branch offices must comply with Financial Services Authority Regulations regarding Sharia people's financing banks.

Preparation of plans for the development and/or changes to the office network follows the format below:

Format 10.00
Plan for Development and/or Changes to Office Network

Type of Plan (Code) a
Office Network (Code) b
Planned Implementation Time (Code) c
Estimated Investment/Cost d
Location
Reason and Considerations e
District/City
Full Address

Note:
a Filled with code:
1 for opening;
2 for address relocation;
3 for status upgrade;
4 for status downgrade; and/or
5 for closure. b Filled with code:
1 for head office;
2 for branch office;
3 for cash office becoming a branch office; and/or 4 for branch office becoming a cash office. c Filled with code:
01 for quarter 1;
02 for quarter 2;
03 for quarter 3; and/or
04 for quarter 4. d Filled with rupiah units. e Explanations of more detailed descriptions can be attached on a separate sheet.

11. Other Information
    This section contains explanations regarding information estimated to affect the business activities of the BPRS, including plans to cease business activities, products or activities that have a material impact on the financial performance or risk profile of the BPRS, including information required by statutory regulations to be included in the Business Plan.

Information required by statutory regulations to be included in the Business Plan includes, among others:
a. financial literacy and inclusion plans in accordance with the format regulated in Financial Services Authority Regulations regarding the improvement of financial literacy and inclusion in the financial services sector for consumers and/or the public; b. education implementation plans in accordance with Financial Services Authority Regulations regarding consumer protection in the financial services sector; and
c. sustainable finance action plans in accordance with Financial Services Authority Regulations regarding the application of sustainable finance for financial services institutions, issuers, and public companies.

Preparation of other information is done by uploading a document in pdf format on Format 99.00 Other Information.

B. Approval of the Business Plan by the Board of Commissioners In accordance with the POJK on BPR and BPRS Business Plans, the Business Plan prepared by the Board of Directors must be approved by the Board of Commissioners. The BPRS uploads a document in pdf format on Format 99.01 Board of Commissioners Approval Sheet.

II. GUIDELINES FOR PREPARING IMPLEMENTATION AND SUPERVISION REPORTS OF THE BUSINESS PLAN
In accordance with the POJK on BPR and BPRS Business Plans, BPRS is required to prepare Implementation and Supervision Reports of the Business Plan semi-annually. The Implementation and Supervision Report of the Business Plan is signed by the Chief Director and Chief Commissioner. In the event that there is no Chief Director and Chief Commissioner, the report is signed by one member of the Board of Directors and one member of the Board of Commissioners of the BPRS. The BPRS uploads a document in pdf format on Format 01.00 Statement Sheet.

The Implementation and Supervision Report of the Business Plan contains qualitative explanations regarding:
a. Achievement of the Business Plan in the form of a comparison between plans and realization, and outlining the focus and priorities for achieving the Business Plan, at least containing:

1. business strategy and policies;
2. realization of financial performance in the balance sheet, income statement, administrative accounts, as well as ratios and financial positions;
3. realization of fund mobilization;
4. realization of fund distribution;
5. realization of capital;
6. realization of information technology development and procurement, and human resource development;
7. realization of product issuance and implementation of new activities;
8. realization of office network development and/or changes;
   and
9. realization of other information;
   b. explanations regarding the causes and obstacles of differences between the Business Plan and the realization of the Business Plan;
   c. follow-up efforts that have been and will be undertaken to improve the realization achievement of the Business Plan;
   d. results of analysis or identification and the opinion of the Board of Commissioners regarding supervision of the implementation of the Business Plan by the Board of Directors, including the results of supervision regarding the implementation of lending policies and lending procedures by the Board of Directors in accordance with Financial Services Authority Regulations regarding the quality of productive assets

and provisioning for write-off of productive assets for Sharia people's financing banks; and e. supervisory steps that have been and will be taken by the Board of Commissioners in the process of supervising the Business Plan.

Preparation of the Implementation and Supervision Report of the Business Plan follows the format below:

Format 02.00
Implementation and Supervision Report of the Business Plan

Column Code Description a. Explanation regarding the achievement of the Business Plan including focus and priorities for achieving the Business Plan at least:

1. business strategy and policies;
2. realization of financial performance in the balance sheet, income statement, administrative accounts, as well as ratios and financial positions;
3. realization of fund mobilization;
4. realization of fund distribution;
5. realization of capital;
6. realization of information technology development and procurement and HR development;
7. realization of product issuance and new activities;
8. realization of office network development and/or changes; and
9. realization of other information.
   b. Explanation regarding the causes and obstacles of differences between the Business Plan and the realization of the Business Plan.
   c. Follow-up efforts to improve the realization achievement of the Business Plan:
10. that have been done; and
11. that will be done.
    d. Results of analysis or identification and the opinion of the Board of Commissioners regarding supervision of the implementation of the Business Plan by the Board of Directors. e. Supervisory steps by the Board of Commissioners in the process of supervising the Business Plan:
12. that have been taken; and
13. that will be taken.

This copy is in accordance with the original
Legal Director 1
Legal Department signed
Mufli Asmawidjaja

Determined in Jakarta on December 14, 2021

CHIEF EXECUTIVE OF BANKING SUPERVISOR
FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA, signed
HERU KRISTIYANA