RegAlert
2023-08-15

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Maximum Limit for Credit Granting by Rural Banks and Maximum Limit for Fund Disbursement by Sharia Rural Banks

This circular establishes implementation guidelines for POJK No. 23 of 2022, defining related parties, borrower groups, and calculation methods for maximum credit limits (BMPK) and fund disbursement limits (BMPD) for Rural Banks (BPR) and Sharia Rural Banks (BPRS). It mandates online reporting of violations or exceedances via the OJK reporting system, specifies offline submission procedures for Salam transactions, and repeals previous circulars from 2017 and 2022 to ensure regulatory alignment effective August 15, 2023.

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To:

  1. The Board of Directors of Rural Banks (BPR); and
  2. The Board of Directors of Sharia Rural Banks (BPRS),
    At their respective locations.

COPY

CIRCULAR LETTER OF THE FINANCIAL SERVICES AUTHORITY OF THE REPUBLIC OF INDONESIA NUMBER 11/SEOJK.03/2023

CONCERNING

THE MAXIMUM LIMIT FOR CREDIT GRANTING BY RURAL BANKS AND THE MAXIMUM LIMIT FOR FUND DISBURSEMENT BY SHARIA RURAL BANKS

In view of the establishment of Financial Services Authority Regulation Number 23 of 2022 concerning the Maximum Limit for Credit Granting by Rural Banks and the Maximum Limit for Fund Disbursement by Sharia Financing Banks (State Gazette of the Republic of Indonesia Year 2022 Number 27/OJK, Supplement to the State Gazette of the Republic of Indonesia Number 19/OJK), hereinafter abbreviated as POJK BMPK BPR BMPD BPRS, and in order to align with applicable laws and regulations, it is necessary to regulate the implementation of POJK BMPK BPR BMPD BPRS through this Financial Services Authority Circular as follows:

I. GENERAL PROVISIONS

  1. In this Financial Services Authority Circular, the following terms are defined:
    a. Rural Bank (BPR) is a conventional bank type that does not provide services in current account transactions directly. b. Sharia Rural Bank (BPRS) is a Sharia bank type that does not provide services in current account transactions directly.
    c. Capital refers to core capital and supplementary capital as referred to in Financial Services Authority Regulations regarding minimum capital adequacy requirements and minimum core capital fulfillment for BPR or BPRS.
    d. Interbank Fund Placement for BPR is the investment of funds in other banks in the form of current accounts, savings, time deposits, certificates of deposit, granted Credits, and other similar fund investments. e. Interbank Fund Placement for BPRS is the investment of funds in Sharia commercial banks, Sharia business units, or other BPRS based on Sharia principles in the form of current accounts, savings, deposits, certificates of deposit, granted Financing, and other fund placements in accordance with Sharia principles, as well as in conventional commercial banks in the form of current accounts and/or savings for the purpose of fund transfers for BPRS and BPRS customers. f. Maximum Limit for Credit Granting (BMPK) is the maximum percentage of realized fund provision permitted relative to BPR Capital. g. Maximum Limit for Fund Disbursement (BMPD) is the maximum percentage of realized fund disbursement permitted relative to BPRS Capital. h. Fund Provision is the investment of BPR funds in the form of Credit, and/or Interbank Fund Placement.
    i. Fund Disbursement is the investment of BPRS funds in the form of Financing, and/or Interbank Fund Placement.
    j. Related Party refers to individuals, companies, or entities that have a controlling relationship with BPR or BPRS, directly or indirectly, through ownership, management, and/or financial relationships. k. Unrelated Party refers to individuals, companies, or entities that do not have a controlling relationship with BPR or BPRS, directly or indirectly, through ownership, management, and/or financial relationships.
    l. BMPK or BMPD Violation is the excess difference between the percentage of Fund Provision or Fund Disbursement realized relative to BPR or BPRS Capital and the permitted BMPK or BMPD, using the Capital position of the last month prior to the realization of Fund Provision or Fund Disbursement.
    m. BMPK or BMPD Exceedance is the excess difference between the percentage of Fund Provision or Fund Disbursement already realized relative to BPR or BPRS Capital and the permitted BMPK or BMPD as of the report date, excluding BMPK or BMPD Violations.

  2. BPR in providing funds and BPRS in disbursing funds must observe prudence principles, including through the management of BPR Fund Provision and BPRS Fund Disbursement concentration towards individuals, borrower groups, or facility recipient customer groups, so that the risk of Fund Provision or Fund Disbursement is not concentrated on specific individuals, borrower groups, or facility recipient customer groups.

  3. In accordance with Article 23 of POJK BMPK BPR BMPD BPRS, the portion of Fund Provision or Fund Disbursement guaranteed by the Indonesian Government directly or through state-owned enterprises or regional-owned enterprises, which is exempt from BMPK or BMPD calculations, must meet at least the requirement that the guarantee is unconditional and irrevocable. The term "unconditional guarantee" means:
    a. the benefits obtained by the BPR providing funds or BPRS disbursing funds from the guarantee do not substantially decrease even if losses occur due to factors beyond the control of BPR or BPRS; and b. it does not contain procedural requirements, including:

  1. requiring a timeframe for submitting notices of default;
  2. requiring proof of good faith by the BPR providing funds or BPRS disbursing funds; and/or
  3. requiring the release of the guarantee to be offset first against the obligations of the BPR providing funds or BPRS disbursing funds to the guarantor.

II. RELATED PARTIES

  1. In accordance with Article 8 paragraph (2) of POJK BMPK BPR BMPD BPRS, Related Parties consisting of individuals or companies that are controllers of BPR or BPRS, directly or indirectly:
    a. own 10% (ten percent) or more of the shares of BPR or BPRS individually or jointly; b. take actions to achieve common goals in controlling BPR or BPRS, with or without a written agreement, so that they jointly control and/or own 10% (ten percent) or more of the shares of BPR or BPRS;
    c. have the authority and/or ability to approve, appoint, and/or dismiss members of the Board of Commissioners and/or members of the Board of Directors of BPR or BPRS; and/or
    d. have the ability to determine the strategic policies of BPR or BPRS.

  2. A party is considered to have a joint controlling relationship as referred to in:
    a. item 1 letter a, if the parties have a family relationship up to the second degree, both horizontal and vertical, as referred to in the explanation of Article 8 paragraph (1) letter d of POJK BMPK BPR BMPD BPRS. b. item 1 letter b, if proven by:

  1. a written agreement or commitment from the parties to provide financial and non-financial support; and/or
  2. information or statements regarding the controlling relationship supported by evidence.

  1. Strategic policies as referred to in item 1 letter d are policies concerning the determination of the direction and objectives of business implementation that have a significant impact.

  2. A party is considered to have a controlling relationship as referred to in item 1 letter c and item 1 letter d if, among others, there are shareholders owning less than 10% (ten percent) and/or non-shareholders who have the authority and/or ability to determine strategic policies, including determining the management of BPR or BPRS.

III. BORROWER GROUPS OR FACILITY RECIPIENT CUSTOMER GROUPS

  1. In accordance with Article 12 of POJK BMPK BPR BMPD BPRS, the determination of borrower groups or facility recipient customer groups can be analyzed based on ownership, management, and/or financial relationships.

  2. In the event that Borrowers or Facility Recipient Customers are married couples without a prenuptial agreement regarding separation of property in accordance with applicable laws and regulations, they are categorized as 1 (one) Borrower or Facility Recipient Customer.

  3. In the event that the collateral provided:
    a. is owned by parties under a marital relationship without a prenuptial agreement regarding separation of property in accordance with applicable laws and regulations; and b. is acquired during the marriage, then all Borrowers or Facility Recipient Customers using the aforementioned collateral are categorized into 1 (one) borrower group or facility recipient customer group.

  4. Financial relationships between Borrowers or Facility Recipient Customers in determining borrower groups or facility recipient customer groups as referred to in item 1 are analyzed based on several factors, namely:
    a. the existence of financial assistance from 1 (one) Borrower or Facility Recipient Customer to other Borrowers or Facility Recipient Customers with specific requirements that cause the party providing financial assistance to have the authority to determine the strategic policies of the company or entity receiving the financial assistance, including decisions to distribute dividends and/or change management; b. the existence of significant business chain linkages in the business operations of Borrowers or Facility Recipient Customers with other Borrowers or Facility Recipient Customers, resulting in interdependence between Borrowers or Facility Recipient Customers that can be proven to cause:

  1. one of the Borrowers or Facility Recipient Customers to be unable to easily transfer such business transactions to other parties; and
  2. the inability to easily transfer such business transactions causing the cash flow of one of the Borrowers or Facility Recipient Customers to experience significant disruption, thereby causing difficulties in meeting obligations.

Example:
In a cooperation between PT “A” and PT “B”, PT “A” sells a significant amount of products produced to PT “B”, where PT “A” is unable to easily transfer the sale of such products to other parties, so that if PT “B” experiences financial problems and cannot buy products from PT “A”, it can cause the cash flow of PT “A” to be disrupted, thereby causing PT “A” to experience difficulties in meeting its obligations. BPR “Z” provides Credit facilities to PT “A” and PT “B”, so that PT “A” and PT “B” are categorized as a borrower group.

  1. Guarantors
    The determination of borrower groups or facility recipient customer groups can be analyzed through financial relationships in the form of actions as guarantors for Credit or Financing. The term “guarantor” refers to a party that provides a guarantee in the form of a written statement declaring that the guarantor will take over and/or settle part or all of the debtor's obligations, in the event that the debtor fails to meet their obligations. This includes parties that receive Fund Provision from BPR or Fund Disbursement from BPRS that are guaranteed using the same collateral objects and/or collateral with the same owner.

In the event that the collateral object is owned by parties different from those receiving the Credit or Financing facilities, and there is written consent from the collateral owner regarding the use of the collateral as a guarantee for such Credit or Financing facilities, then the collateral owner and the recipient of the Credit or Financing facilities are categorized as having a guarantee relationship. Thus, the recipient of such Credit or Financing facilities is calculated as 1 (one) borrower group or facility recipient customer group.

Example:
Mr. “A” and Mr. “B” receive Financing facilities from BPRS “X”. Based on the consent of Mr. “B”, Mr. “A”'s Financing facility uses collateral owned by Mr. “B”. Mr. “A” and Mr. “B” are categorized as having a guarantee relationship and are calculated as a facility recipient customer group in the BMPD calculation.

IV. CALCULATION OF BMPK FOR BPR OR BMPD FOR BPRS

  1. The calculation of BMPK for BPR refers to Appendix I, which is an integral part of this Financial Services Authority Circular.

  2. The calculation of BMPD for BPRS refers to Appendix II, which is an integral part of this Financial Services Authority Circular.

V. VIOLATIONS OF BMPK FOR BPR OR BMPD FOR BPRS

  1. The calculation of BMPK for BPR violations refers to Appendix I, which is an integral part of this Financial Services Authority Circular.

  2. The calculation of BMPD for BPRS violations refers to Appendix II, which is an integral part of this Financial Services Authority Circular.

VI. EXCEEDANCE OF BMPK FOR BPR OR BMPD FOR BPRS

  1. The calculation of BMPK for BPR exceedance refers to Appendix I, which is an integral part of this Financial Services Authority Circular.

  2. The calculation of BMPD for BPRS exceedance refers to Appendix II, which is an integral part of this Financial Services Authority Circular.

VII. VIOLATIONS AND EXCEEDANCE OF BMPK FOR BPR OR BMPD FOR BPRS REGARDING INTERBANK FUND PLACEMENT TO MITIGATE POTENTIAL AND/OR LIQUIDITY ISSUES

  1. In accordance with Article 29 paragraph (3) of POJK BMPK BPR BMPD BPRS, Interbank Fund Placement in:
    a. other BPR and BPRS, for BPR; or b. other BPRS, for BPRS, to mitigate potential and/or liquidity issues of BPR and other BPRS exceeding 30% (thirty percent) of BPR or BPRS Capital for all Related Parties and Unrelated Parties, is a percentage of Fund Provision or Fund Disbursement that is not permitted, and is therefore categorized as a BMPK or BMPD Violation or BMPK or BMPD Exceedance.

  2. Regarding BMPK or BMPD Violations or BMPK or BMPD Exceedances as referred to in item 1, BPR and BPRS must comply with the provisions in Chapter VI on Resolution of BMPK and BMPD Violations and Exceedance of POJK BMPK BPR BMPD BPRS.

VIII. SUBMISSION OF BMPK FOR BPR OR BMPD FOR BPRS REPORTS AND/OR CORRECTION OF BMPK FOR BPR OR BMPD FOR BPRS REPORTS

  1. In accordance with Article 30 of POJK BMPK BPR BMPD BPRS, the submission of BMPK for BPR or BMPD for BPRS reports is conducted online as part of the monthly reports of BPR and monthly reports of BPRS, consisting of information on BMPK or BMPD Violations and/or BMPK or BMPD Exceedances in accordance with Financial Services Authority Regulations regarding reporting by rural banks and Sharia financing banks through the Financial Services Authority reporting system.

  2. The BMPK for BPR reporting output as per Appendix III, which is an integral part of this Financial Services Authority Circular, or the BMPD for BPRS reporting output as per Appendix IV, which is an integral part of this Financial Services Authority Circular, can be downloaded through the Financial Services Authority reporting system based on the information reported as in item 1.

  3. The submission of information on Related Parties consisting of individuals or companies that are controllers of BPR as referred to in Article 8 of POJK BMPK BPR BMPD BPRS is submitted in the monthly BPR reports through the Financial Services Authority reporting system in Form 00.05 Other Related Party Data, referring to the Related Party Relationship reference codes as per the Financial Services Authority Circular regarding monthly reports of rural banks as follows:

Related Party Relationship Code
01 a. Individuals or companies that are controllers of BPR in accordance with POJK BMPK BPR BMPD BPRS b. Family relationships with members of the Board of Directors, members of the Board of Commissioners, and individuals who are controllers of BPR 02 Non-bank companies owned by members of the Board of Directors, members of the Board of Commissioners, executive officials, and parties as referred to in code 01 03 Other BPR or BPRS owned by members of the Board of Directors, members of the Board of Commissioners, executive officials, and parties as referred to in code 01 04 Other BPR or BPRS whose Board of Commissioners members also serve as Board of Commissioners members of the BPR, with at least 50% (fifty percent) of the total members of the Board of Directors and Board of Commissioners in the other BPR or BPRS 05 Companies where at least 50% (fifty percent) of the total members of the Board of Directors and Board of Commissioners are members of the Board of Commissioners of the BPR 06 Borrowers guaranteed by members of the Board of Directors, members of the Board of Commissioners, executive officials, and parties as referred to in codes 01 through 05

  1. The submission of information on Related Parties consisting of individuals or companies that are controllers of BPRS is submitted in the monthly BPRS reports through the Financial Services Authority reporting system in Form 01.05 Other Related Party Data, referring to the Other Related Party reference codes as per the Financial Services Authority Circular regarding monthly reports of Sharia financing banks.

  2. In the event that:
    a. the BMPD for BPRS status information in Form 13.00 Salam Receivables List of Monthly BPRS Reports is not yet available in the Financial Services Authority Reporting System, and b. there are violations or exceedances of BMPD, for BPRS that disburse funds using Salam agreements, in addition to the Monthly BPRS Reports already submitted in accordance with the Financial Services Authority Circular regarding monthly reports of Sharia financing banks, BPRS must submit BMPD for BPRS status information for Salam transactions by adding the BMPD status column in Form 13.00 Salam Receivables List offline.

  3. Offline submission as referred to in item 5 is conducted in the form of:
    a. electronic copy (softcopy) via official email; or b. printed copy (hardcopy), directed to the Regional Office of the Financial Services Authority or the local Financial Services Authority Office in accordance with the territory where the BPRS head office is located.

Signed,
Mufli Asmawidjaja

IX. CLOSING

  1. Upon the effective date of this Financial Services Authority Circular, Financial Services Authority Circular Number 41/SEOJK.03/2017 concerning the Maximum Limit for Credit Granting by Rural Banks and Bank Indonesia Circular No. 13/17/DPBS concerning the Maximum Limit for Fund Disbursement by Sharia Financing Banks are revoked and declared invalid.

  2. Upon the effective date of this Financial Services Authority Circular, Financial Services Authority Circular Number 12/SEOJK.03/2022 concerning Monthly Reports of Rural Banks remains in force insofar as it does not conflict with this Financial Services Authority Circular.

  3. Upon the effective date of this Financial Services Authority Circular, Financial Services Authority Circular Number 3/SEOJK.03/2023 concerning Monthly Reports of Sharia Financing Banks remains in force insofar as it does not conflict with this Financial Services Authority Circular.

  4. The provisions in this Financial Services Authority Circular take effect on the date of issuance.

Issued in Jakarta on August 15, 2023

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

Signed,
DIAN EDIANA RAE

APPENDIX I
FINANCIAL SERVICES AUTHORITY CIRCULAR LETTER
OF THE REPUBLIC OF INDONESIA
NUMBER 11/SEOJK.03/2023
CONCERNING
THE MAXIMUM LIMIT FOR CREDIT GRANTING BY RURAL BANKS AND THE MAXIMUM LIMIT FOR FUND DISBURSEMENT BY SHARIA RURAL BANKS

I. BMPK CALCULATION

  1. BMPK for Credit
    a. BMPK for Credit is calculated based on the debit balance of all Credits received by Borrowers. b. BPR is not permitted to provide Fund Provision utilized by parties other than the Borrower stated in the Credit agreement. In the event of a deviation in Credit granting, such as providing Fund Provision utilized by parties other than the Borrower stated in the Credit agreement, BMPK is calculated based on the debit balance of all Credits received by the party utilizing such Credit.
    c. In accordance with Article 3 paragraph (1) of POJK BMPK BPR BMPD BPRS, BPR is prohibited from entering into agreements or setting requirements that obligate BPR to provide Fund Provision that would result in a BMPK violation.
    d. In the event that BPR enters into agreements setting payment and withdrawal schemes at any time (withdrawal facilities), BPR must ensure that such schemes will not result in a BMPK violation.

  2. BMPK for Interbank Fund Placement in the Form of Savings and Deposits
    The calculation of BMPK for Interbank Fund Placement in the form of savings is based on the savings balance, or in the form of deposits, based on the nominal amount of deposits in the reporting month.

  3. BMPK for Fund Provision to Related Parties
    a. The calculation of BMPK for Fund Provision to Related Parties is based on the total amount of Credits to non-banks and Interbank Fund Placement to all other BPR or BPRS that are Related Parties of the BPR. b. BMPK for Fund Provision to Related Parties is 10% (ten percent) of BPR Capital.

  4. BMPK for Interbank Fund Placement in Other Unrelated BPR and/or BPRS
    The calculation of BMPK for Interbank Fund Placement in other BPR and BPRS that are Unrelated Parties is based on the total amount of Interbank Fund Placement in each other BPR and/or BPRS Unrelated Party, at a maximum of 20% (twenty percent) of BPR Capital.

  5. BMPK in the Form of Credit to 1 (One) Unrelated Party Borrower
    The calculation of BMPK in the form of Credit to each Unrelated Party Borrower is set at a maximum of 20% (twenty percent) of BPR Capital.

  6. BMPK in the Form of Credit to 1 (One) or More Unrelated Party Borrowers Who Are Part of an Unrelated Party Borrower Group
    The calculation of BMPK in the form of Credit to 1 (one) or more Unrelated Party Borrowers who are part of an Unrelated Party Borrower Group is calculated based on Credit grants to:
    a. each Unrelated Party Borrower at a maximum of 20% (twenty percent) of BPR Capital; and b. 1 (one) Unrelated Party Borrower Group at a maximum of 30% (thirty percent) of BPR Capital.

The term 1 (one) borrower group includes non-bank Borrowers who have management, ownership, and/or financial relationships with the bank as the lender.

  1. BMPK in the Form of Interbank Fund Placement to Mitigate Potential and/or Liquidity Issues of Other BPR and BPRS
    The calculation of BMPK in the form of Interbank Fund Placement to mitigate potential and/or liquidity issues is based on all Interbank Fund Placement in the form of savings and/or deposits in other BPR and BPRS, including Related Parties and Unrelated Parties, at a maximum of 30% (thirty percent) of BPR Capital.

  2. BMPK Violations and Exceedances must be calculated in the risk profile and governance assessment that has a significant impact.

  3. In determining the health level value of BPRs in accordance with the Financial Services Authority Regulation regarding the assessment of the health level of rural banks and sharia rural banks.

  4. Interbank fund placement in other BPRs or Sharia Rural Banks (BPRS) is excluded from the BMPK calculation as long as it meets the requirements as referred to in Article 24 of the POJK on BMPK for BPR, BMPD, and BPRS. Example:
    There are 28 (twenty-eight) BPRs that have made an agreement to place funds in the form of deposits, contributions, or portions of funds in one designated BPR to coordinate the management of the gathered funds. The agreement includes among others:
    a. the amount of deposits, contributions, or portions of funds that must be placed by each BPR in the designated BPR, for example, Rp25,000,000.00 (twenty-five million rupiah) per BPR; and/or b. the maximum amount of funds or liquidity loans that can be placed by the designated BPR to one of the 28 (twenty-eight) BPRs, for example, 10 (ten) times the amount of deposits, contributions, or portions of funds placed, or Rp250,000,000.00 (two hundred fifty million rupiah).

The items excluded from the BMPK calculation in the above example are:
a. each fund placement from the 28 (twenty-eight) BPRs to the designated BPR amounting to Rp25,000,000.00 (twenty-five million rupiah); and b. fund placement from the designated BPR to one of the 28 (twenty-eight) BPRs experiencing liquidity difficulties amounting to Rp250,000,000.00 (two hundred fifty million rupiah).

  1. In accordance with Article 34 of the POJK on BMPK for BPR, BMPD, and BPRS, all existing Borrowers of BPRs prior to the implementation of the POJK on BMPK for BPR, BMPD, and BPRS who fall into the Related Party criteria for individuals or companies that are controllers of the BPR as referred to in Article 8 paragraph (1) letter a and letter d number 1 are calculated as Related Parties.

In the event that before the POJK on BMPK for BPR, BMPD, and BPRS came into effect there were no violations or exceedances of BMPK, and after the POJK came into effect there was an addition of Related Parties resulting in an exceedance of BMPK, the BPR establishes this condition as a status of BMPK exceedance for all Related Parties.

In the event that before the POJK on BMPK for BPR, BMPD, and BPRS came into effect there were violations or exceedances of BMPK by Related Parties, and after the POJK came into effect there was an addition of Related Parties resulting in an exceedance of BMPK for the new Related Parties, then:
a. the BPR establishes the status of BMPK exceedance for the aforementioned new Related Parties; and b. the violations or exceedances of BMPK established by the BPR prior to the implementation of the POJK on BMPK for BPR, BMPD, and BPRS remain as violations or exceedances of BMPK.

II. BMPK VIOLATIONS

  1. A BPR is stated to have committed a BMPK violation in the event that there is an excess difference between the percentage of Fund Provisioning realized against the BPR's Capital and the permitted BMPK, including in the event that the BPR restructures Credit.

  2. The BPR Capital used in the BMPK calculation is the sum of core capital and supplementary capital in accordance with the Financial Services Authority Regulation regarding minimum capital provision requirements and minimum core capital fulfillment for BPRs at the position of the last month before the realization of Fund Provisioning.

  3. A BPR remains assessed as violating BMPK as long as the BMPK violation has not been resolved.

  4. In the event that there is a BMPK violation in the form of Fund Provisioning in the form of Credit to 1 (one) or more Unrelated Party Borrowers that are part of an Unrelated Party Borrower group, the BMPK violation is calculated based on the sum of violations for granting Credit to each Borrower and the violation for granting Credit to 1 (one) group of Unrelated Party Borrowers.

  5. In the event that there is Fund Provisioning to Related Parties in the current month that causes a BMPK violation, the BPR establishes the status of BMPK violation for all Related Parties.

  6. Example of BMPK Violation Calculation for BPR:
    a. Fund Provisioning in the form of Credit and Interbank Fund Placement to BPR Related Parties BPR "X" provides Fund Provisioning in the form of Credit to several Borrowers and Interbank Fund Placement to BPR "Y" (Related Party) with the following conditions:

  1. Fund Provisioning to several Borrowers and BPR "Y" respectively as follows:
    a) Credit to Mr. A amounting to Rp200,000,000.00 (two hundred million rupiah), term 2 (two) years, Credit agreement date September 4, 2023. b) Credit to Mr. B amounting to Rp100,000,000.00 (one hundred million rupiah), term 2 (two) years, Credit agreement date September 6, 2023. c) Credit to Mr. C with a limit of Rp200,000,000.00 (two hundred million rupiah), term 12 (twelve) months, Credit agreement date September 7, 2023. d) Interbank Fund Placement in BPR "Y" in the form of a deposit amounting to Rp200,000,000.00 (two hundred million rupiah), term 6 (six) months, starting from September 25, 2023.
  2. Mr. A, Mr. B, Mr. C, and BPR "Y" above meet the criteria for Related Parties as referred to in Article 8 of the POJK on BMPK for BPR, BMPD, and BPRS.
  3. BPR "X" Capital:
    a) August 2023 position amounting to Rp6,000,000,000.00 (six billion rupiah). b) September 2023 position amounting to Rp8,000,000,000.00 (eight billion rupiah).
  4. BMPK for Related Parties:
    All Related Parties at most 10% (ten percent):
    a) September 2023 position amounting to Rp600,000,000.00 (six hundred million rupiah) = (10% x Rp6,000,000,000.00). b) October 2023 position amounting to Rp800,000,000.00 (eight hundred million rupiah) = (10% x Rp8,000,000,000.00).
  5. BMPK Violation Calculation
    September 2023 Position
NameFund Provisioning AmountBMPKBMPK Violation NominalBMPK Violation %
A200,000,000
B100,000,000
C200,000,000
BPR "Y"200,000,000
Total Fund Provisioning A, B, C, and BPR "Y"700,000,000600,000,000100,000,0001.67

Based on the percentage of Fund Provisioning at realization to Mr. A, Mr. B, Mr. C, and BPR "Y" amounting to Rp700,000,000.00 (seven hundred million rupiah) against BPR Capital in August 2023 position amounting to Rp6,000,000,000.00 (six billion rupiah) minus the Related Party BMPK percentage (10%), the result is as follows:
(Rp700,000,000.00 / Rp6,000,000,000.00 x 100%) – 10% = 1.67%.
Thus, there is a Related Party BMPK violation of 1.67% (one point six seven percent).

b. Fund Provisioning to Unrelated Party Borrowers

  1. BPR "X" provides Fund Provisioning in the form of Credit for house purchase to Mr. Y (Unrelated Party) with a limit of Rp2,500,000,000.00 (two billion five hundred million rupiah), term 50 (fifty) months, Credit agreement date September 11, 2023.
  2. BPR "X" Capital:
    a) August 2023 position amounting to Rp10,000,000,000.00 (ten billion rupiah). b) September 2023 position amounting to Rp9,000,000,000.00 (nine billion rupiah).
  3. BMPK for Unrelated Parties:
    a) September 2023 position amounting to Rp2,000,000,000.00 (two billion rupiah) = (20% x Rp10,000,000,000.00) b) October 2023 position amounting to Rp1,800,000,000.00 (one billion eight hundred million rupiah) = (20% x Rp9,000,000,000.00)
  4. BMPK Violation Calculation
    September 2023 Position
    Based on the percentage of Credit at realization to Mr. Y amounting to Rp2,500,000,000.00 (two billion five hundred million rupiah) against BPR Capital in August 2023 position amounting to Rp10,000,000,000.00 (ten billion rupiah) minus the Unrelated Party BMPK percentage (20%), the result is as follows:
    (Rp2,500,000,000.00 / Rp10,000,000,000.00 x 100%) – 20% = 5% (five percent).
    Thus, there is a BMPK violation of 5% (five percent).

c. Fund Provisioning in the form of Credit to 1 (One) or More Unrelated Party Borrowers that are Part of an Unrelated Party Borrower Group

  1. Credit Granting where Individual Borrowers Exceed or Do Not Exceed BMPK but the Borrower Group Exceeds BMPK
    BPR "X" provides Fund Provisioning in the form of Credit to several Borrowers and Interbank Fund Placement to BPR "Y" (Unrelated Party) with the following conditions:
    a) Fund Provisioning to several Borrowers and BPR "Y" respectively as follows:
    (1) Credit to Mr. A amounting to Rp1,000,000,000.00 (one billion rupiah), term 2 (two) years, Credit agreement date September 4, 2023.
    (2) Credit to Mr. B amounting to Rp500,000,000.00 (five hundred million rupiah), term 1 (one) year, Credit agreement date September 6, 2023.
    (3) Credit to Mr. C amounting to Rp2,100,000,000.00 (two billion one hundred million rupiah), term 50 (fifty) months, Credit agreement date September 11, 2023. (4) Credit to BPR "Y" amounting to Rp1,500,000,000.00 (one billion five hundred million rupiah), term 3 (three) years, Credit agreement date September 13, 2023. (5) Interbank Fund Placement in BPR "Y" in the form of a deposit amounting to Rp800,000,000.00 (eight hundred million rupiah), term 6 (six) months, starting from September 25, 2023. b) Mr. A, Mr. B, and Mr. C and BPR "Y" above have ownership, management, and/or financial relationships, thus constituting 1 (one) borrower group, namely Group "Z". c) BPR "X" Capital:
    (1) August 2023 position amounting to Rp10,000,000,000.00 (ten billion rupiah).
    (2) September 2023 position amounting to Rp11,000,000,000.00 (eleven billion rupiah). d) BMPK for Unrelated Parties:
    (1) Individual Borrowers at most 20% (twenty percent):
    (a) September 2023 position amounting to Rp2,000,000,000.00 (two billion rupiah) = (20% x Rp10,000,000,000.00) (b) October 2023 position amounting to Rp2,200,000,000.00 (two billion two hundred million rupiah) = (20% x Rp11,000,000,000.00) (2) Borrower Groups at most 30% (thirty percent):
    (a) September 2023 position amounting to Rp3,000,000,000.00 (three billion rupiah) = (30% x Rp10,000,000,000.00) (b) October 2023 position amounting to Rp3,300,000,000.00 (three billion three hundred million rupiah) = (30% x Rp11,000,000,000.00)

BMPK Violation Calculation
September 2023 Position

NameFund Provisioning AmountBMPKBMPK Violation NominalBMPK Violation %
A1,000,000,0002,000,000,000
B500,000,0002,000,000,000
C2,100,000,0002,000,000,000100,000,0001
BPR "Y"1,500,000,000 + 800,000,000 = 2,300,000,0002,000,000,000300,000,0003
Group "Z" Total Fund Provisioning A, B, C and BPR "Y"5,100,000,0003,000,000,0002,100,000,00021

a) Individual Borrower BMPK
(1) Based on the percentage of Credit to Mr. C amounting to Rp2,100,000,000.00 (two billion one hundred million rupiah) against BPR Capital in August 2023 position amounting to Rp10,000,000,000.00 (ten billion rupiah) minus the Unrelated Party BMPK percentage (20%), the result is as follows:
(Rp2,100,000,000.00 / Rp10,000,000,000.00 x 100%) – 20% = 1% Thus, there is an Unrelated Party BMPK violation of 1% (one percent).
(2) Based on the percentage of Fund Provisioning to BPR "Y" amounting to Rp2,300,000,000.00 (two billion three hundred million rupiah) against BPR Capital in August 2023 position amounting to Rp10,000,000,000.00 (ten billion rupiah) minus the Unrelated Party BMPK percentage (20%), the result is as follows:
(Rp2,300,000,000.00 / Rp10,000,000,000.00 x 100%) – 20% = 3% Thus, there is an Unrelated Party BMPK violation of 3% (three percent).
(3) Based on the percentage of Credit from BPR "X" to each of Mr. A and Mr. B against BPR Capital in August 2023 position does not exceed the Unrelated Party BMPK percentage. Thus, Credit to Mr. A and Mr. B does not violate Unrelated Party BMPK. b) Borrower Group BMPK Since Mr. A, Mr. B, Mr. C, and BPR "Y" meet the borrower group criteria, the BMPK calculation is also calculated based on Fund Provisioning in the form of Credit to the borrower group amounting to Rp5,100,000,000.00 (five billion one hundred million rupiah). The BMPK for Unrelated Party Borrower Groups is 30% (thirty percent). The calculation for this borrower group BMPK is as follows:
(Rp5,100,000,000.00 / Rp10,000,000,000.00 x 100%) – 30% = 21%.
Thus, there is an Unrelated Party Borrower Group BMPK violation of 21% (twenty-one percent).

  1. Fund Provisioning in Other BPRs where Individual Borrowers Exceed BMPK but the Borrower Group Does Not Exceed BMPK
    BPR "Y" places its funds in BPR "Z" and provides Credit facilities to PT A (Unrelated Party holding 40% (forty percent) shares of BPR "Z") with the following conditions:
    a) BPR "Y" Capital: October 2023 position amounting to Rp8,000,000,000.00 (eight billion rupiah). b) BMPK for Unrelated Parties:
    (1) Individual Borrowers: 20% or amounting to Rp1,600,000,000.00 (one billion six hundred million rupiah) (= 20% x Rp8,000,000,000.00) (2) Borrower Groups: 30% or amounting to Rp2,400,000,000.00 (two billion four hundred million rupiah) (= 30% x Rp8,000,000,000.00). c) BPR "Y" Fund Provisioning in BPR "Z" in the form of:
    (1) Deposit: Rp1,000,000,000.00 (one billion rupiah), term 6 (six) months starting from November 13, 2023.
    (2) Credit: Rp1,000,000,000.00 (one billion rupiah), term 36 (thirty-six) months, Credit agreement date November 13, 2023. d) BPR "Y" provides Credit to PT A amounting to Rp1,300,000,000.00 (one billion three hundred million rupiah), term 24 (twenty-four) months, Credit agreement date November 20, 2023.

BMPK Violation Calculation:
November 2023 Position

NameFund Provisioning AmountBMPKBMPK Violation NominalBMPK Violation %
BPR "Z"1,000,000,000 + 1,000,000,000 = 2,000,000,0001,600,000,000400,000,0005
PT A1,300,000,0001,600,000,000
Borrower Group Total Credit BPR "Z" and PT A2,300,000,0002,400,000,000

a) Individual Borrower BMPK
(1) Interbank Fund Placement of BPR "Y" in BPR "Z" in the form of a deposit amounting to Rp1,000,000,000.00 (one billion rupiah) and Credit amounting to Rp1,000,000,000.00 (one billion rupiah), so the total Interbank Fund Placement amount is Rp2,000,000,000.00 (two billion rupiah). The BMPK for Interbank Fund Placement in other BPRs is 20% (twenty percent). The calculation for this Interbank Fund Placement BMPK is as follows:
(Rp2,000,000,000.00 / Rp8,000,000,000.00 x 100%) – 20% = 5%.
Thus, there is an Unrelated Party BMPK violation of 5% (five percent).
(2) Based on the percentage of Credit from BPR "Y" to PT A amounting to Rp1,300,000,000.00 (one billion three hundred million rupiah) against BPR Capital in October 2023 position amounting to Rp8,000,000,000.00 (eight billion rupiah) does not exceed the Unrelated Party BMPK percentage. Thus, Credit to PT A does not violate Unrelated Party BMPK. b) Borrower Group BMPK Since PT A and BPR "Z" meet the borrower group criteria, the BMPK calculation is also calculated based on the borrower group. Based on the percentage of the total outstanding Credit to BPR "Z" and PT A amounting to Rp2,300,000,000.00 (two billion three hundred million rupiah) against BPR Capital in October 2023 position amounting to Rp8,000,000,000.00 (eight billion rupiah) does not exceed the Unrelated Party Borrower Group BMPK percentage. Thus, Credit to BPR "Z" and PT A as an Unrelated Party Borrower Group does not violate BMPK.

  1. Credit Granting where Individual and Borrower Groups Exceed BMPK
    BPR "B" provides Credit facilities to Unrelated Party Borrowers PT X and PT Y. PT X and PT Y are owned by Mr. "S" with 50% (fifty percent) share ownership in each PT. Credit disbursement is done at once with the following conditions:
    a) BPR Capital: November 2023 position amounting to Rp7,000,000,000.00 (seven billion rupiah). b) BMPK for Unrelated Parties:
    (1) Individual Borrowers: 20% or amounting to Rp1,400,000,000.00 (one billion four hundred million rupiah) (= 20% x Rp7,000,000,000.00).
    (2) Borrower Groups: 30% or amounting to Rp2,100,000,000.00 (two billion one hundred million rupiah) (= 30% x Rp7,000,000,000.00). c) Credit Facilities: (1) Borrower PT X amounting to Rp1,700,000,000.00 (one billion seven hundred million rupiah). (2) Borrower PT Y amounting to Rp1,500,000,000.00 (one billion five hundred million rupiah). d) Term: Each 48 (forty-eight) months. e) Credit Agreement Date: (1) Borrower PT X, December 4, 2023. (2) Borrower PT Y, December 11, 2023. f) Credit Realization: Disbursement is done at once (1) Borrower PT X, December 4, 2023. (2) Borrower PT Y, December 11, 2023.

BMPK Violation Calculation
December 2023 Position a) Individual Borrower BMPK (1) Credit grant from BPR "B" to PT X amounting to Rp1,700,000,000.00 (one billion seven hundred million rupiah) violates BMPK with the following calculation:
(Rp1,700,000,000.00 / Rp7,000,000,000.00 x 100%) – 20% = 4.29%.
(2) Credit grant from BPR "B" to PT Y amounting to Rp1,500,000,000.00 (one billion five hundred million rupiah) violates BMPK with the following calculation:
(Rp1,500,000,000.00 / Rp7,000,000,000.00 x 100%) – 20% = 1.43%. b) Borrower Group BMPK Since PT X and PT Y meet the Unrelated Party Borrower Group criteria, the BMPK calculation is also calculated based on the borrower group amounting to Rp3,200,000,000.00 (three billion two hundred million rupiah) (Rp1,700,000,000.00 + Rp1,500,000,000.00). The BMPK for Unrelated Party Borrower Groups is 30% (thirty percent). The calculation for this borrower group BMPK is as follows:
(Rp3,200,000,000.00 / Rp7,000,000,000.00 x 100%) – 30% = 15.71%.
Based on the calculations above, then:
a) Credit grant from BPR "B" to PT X individually violates BMPK by 4.29% (four point two nine percent). b) Credit grant from BPR "B" to PT Y individually violates BMPK by 1.43% (one point four three percent). c) Credit grant from BPR "B" to PT X and PT Y as an Unrelated Party Borrower Group violates Unrelated Party Borrower Group BMPK by 15.71% (fifteen point seven one percent). d) Thus, the percentage of the total BMPK violations committed by BPR "B" is 21.43% (twenty-one point four three percent).

d. Credit with Staged Disbursement
BPR "Y" provides Credit facilities to Mr. B (Unrelated Party) with staged disbursement with the following conditions:

  1. BPR Capital:
    a) October 2023 position amounting to Rp8,000,000,000.00 (eight billion rupiah). b) November 2023 position amounting to Rp6,500,000,000.00 (six billion five hundred million rupiah).
  2. BMPK for Unrelated Parties (20%):
    a) November 2023 position amounting to Rp1,600,000,000.00 (one billion six hundred million rupiah) (= 20% x Rp8,000,000,000.00). b) December 2023 position amounting to Rp1,300,000,000.00 (one billion three hundred million rupiah) (= 20% x Rp6,500,000,000.00).
  3. Credit Facility: Rp1,700,000,000.00 (one billion seven hundred million rupiah).
  4. Term: 60 (sixty) months.
  5. Credit Agreement Date: November 8, 2023.
  6. Credit Realization: Staged Credit Disbursement
    a) Disbursement Stage I, November 8, 2023: Rp900,000,000.00 (nine hundred million rupiah). b) Disbursement Stage II, December 8, 2023: Rp800,000,000.00 (eight hundred million rupiah). Outstanding balance of Stage I Credit in December 2023 position: Rp885,000,000.00 (eight hundred eighty-five million rupiah).

BMPK Violation Calculation

  1. November 2023 Position
    Based on the percentage of the outstanding balance at realization or disbursement of Credit to Mr. B Stage I amounting to Rp900,000,000.00 (nine hundred million rupiah) against BPR Capital in October 2023 position amounting to Rp8,000,000,000.00 (eight billion rupiah) does not exceed the Unrelated Party BMPK percentage. Thus, the outstanding balance of Stage I Credit to Mr. B does not violate Unrelated Party BMPK.

  2. December 2023 Position
    With the realization or disbursement of Credit to Mr. B Stage II amounting to Rp800,000,000.00 (eight hundred million rupiah), the total outstanding balance of Credit becomes Rp1,685,000,000.00 (one billion six hundred eighty-five million rupiah), so the percentage of the outstanding balance of Credit against BPR Capital in November 2023 position amounting to Rp6,500,000,000.00 (six billion five hundred million rupiah) minus the Related Party BMPK percentage (20%), the result is as follows:
    (Rp1,685,000,000.00 / Rp6,500,000,000.00 x 100%) – 20% = 5.92% Thus, there is an Unrelated Party BMPK violation of 5.92% (five point nine two percent).

e. Credit with Drawdown Facility Scheme
BPR "Y" provides Credit with a drawdown facility scheme to Mr. C (Unrelated Party) with the following conditions:

  1. BPR Capital: November 2023 position amounting to Rp7,000,000,000.00 (seven billion rupiah).
  2. BMPK for Unrelated Parties: 20% or amounting to Rp1,400,000,000 (one billion four hundred million rupiah) (= 20% x Rp7,000,000,000.00).
  3. Credit Facility: Rp1,500,000,000.00 (one billion five hundred million rupiah).
  4. Term: 12 (twelve) months.
  5. Credit Agreement Date: December 4, 2023.
  6. Realization of Outstanding Balance: In December 2023.

BMPK Violation Calculation
BMPK calculation is based on the percentage of the outstanding balance in December 2023 position amounting to Rp1,455,000,000.00 (one billion four hundred fifty-five million rupiah) against BPR Capital in November 2023 position amounting to Rp7,000,000,000.00 (seven billion rupiah) minus the Unrelated Party BMPK percentage (20%), with the following calculation:
(Rp1,455,000,000.00 / Rp7,000,000,000.00 x 100%) – 20% = 0.79% Thus, there is a BMPK violation of 0.79% (zero point seven nine percent).

  1. Example of BMPK Calculation for Fund Provisioning in the form of Interbank Fund Placement to Address Potential and/or Liquidity Problems of Other BPRs and BPRS
    a. In November 2023 position, BPR "Y" has carried out:
  1. Fund Provisioning in the form of Credit or Interbank Fund Placement to Related Parties including BPR "A", "B", and "C". The Fund Provisioning by BPR "Y" to the aforementioned Related Parties does not exceed the Related Party BMPK of 10% (ten percent).
  2. Fund Provisioning in the form of Interbank Fund Placement to BPR "D" (Unrelated Party) and the aforementioned Fund Provisioning does not exceed the Unrelated Party BMPK of 20% (twenty percent).
  3. Subsequently in the same month, the BPR also carried out Interbank Fund Placement for addressing
Disbursement DateDeposit BalanceDebit Balance
December 71,000,000,0001,000,000,000
December 13200,000,000800,000,000
December 27700,000,0001,500,000,000
December 2945,000,0001,455,000,000

liquidity issues to several Rural Banks as follows:
a) Rural Bank “A” (Related Party) in the form of a deposit certificate amounting to Rp1,000,000,000.00 (one billion rupiah) with a term of 6 (six) months, starting date 24 November 2023. b) Rural Bank “B” (Related Party) in the form of a deposit certificate amounting to Rp1,000,000,000.00 (one billion rupiah), with a term of 6 (six) months, starting date 10 November 2023. c) Rural Bank “C” (Related Party) in the form of a deposit certificate amounting to Rp800,000,000.00 (eight hundred million rupiah) with a term of 6 (six) months, starting date 3 November 2023. d) Rural Bank “D” (Unrelated Party) in the form of a deposit certificate amounting to Rp200,000,000.00 (two hundred million rupiah) with a term of 6 (six) months, starting date 17 November 2023. b. Capital of Rural Bank “X”

  1. Position October 2023 amounting to Rp8,000,000,000.00 (eight billion rupiah).
  2. Position November 2023 amounting to Rp9,000,000,000.00 (nine billion rupiah).
    c. BMPK for Interbank Fund Placement for Addressing Potential and/or Liquidity Issues to Related Parties and Unrelated Parties
  3. Position November 2023 amounting to Rp2,400,000,000.00 (two billion four hundred million rupiah) = (30% x Rp8,000,000,000.00).
  4. Position December 2023 amounting to Rp2,700,000,000.00 (two billion seven hundred million rupiah) = (30% x Rp9,000,000,000.00).

d. Calculation of BMPK Violation
Position November 2023

NameFund Provision AmountBMPKBMPK Violation NominalBMPK Violation %
Rural Bank “A”1,000,000,0002,400,000,000
Rural Bank “B”1,000,000,0002,400,000,000
Rural Bank “C”800,000,0002,400,000,000
Rural Bank “D”200,000,0002,400,000,000
Total Fund Provision for Addressing Potential and/or Liquidity Issues3,000,000,0002,400,000,000600,000,0007.5

Based on the percentage realization of Interbank Fund Placement for addressing potential and/or liquidity issues on Borrowers, both Related Parties and Unrelated Parties, namely Rural Bank “A”, “B”, “C” and “D” amounting to Rp3,000,000,000.00 (three billion rupiah) against the Capital of Rural Bank at the October 2023 position amounting to Rp8,000,000,000.00 (eight billion rupiah) minus the BMPK percentage for addressing potential and/or liquidity issues (30%), the result is obtained as follows:
(Rp3,000,000,000.00 / Rp8,000,000,000.00 x 100%) – 30% = 7.5% Thus, there is a BMPK violation for addressing potential and/or liquidity issues amounting to 7.5% (seven point five percent).

  1. Based on the example of BMPK calculation as referred to in Roman numeral II number 6 letter d and letter e, in the event that the amount of Fund Provision as per the Credit Agreement exceeds the BMPK, besides violating the BMPK, the Rural Bank also violates Article 3 paragraph (1) of the POJK on BMPK for Rural Banks, Sharia Rural Banks, and Rural Credit Banks which regulates that Rural Banks are prohibited from making agreements or setting requirements that obligate the Rural Bank to provide Fund Provision that will result in a BMPK violation.

III. EXCEEDANCE OF BMPK

  1. Fund Provision by Rural Banks is categorized as an exceedance of BMPK in the event of a surplus difference between the percentage of Fund Provision that has been realized against the Rural Bank’s Capital with the permitted BMPK at the reporting date, including in the event that the Rural Bank carries out Credit restructuring and is not categorized as a BMPK violation.
  2. BMPK exceedance can be caused by a decrease in Rural Bank Capital, merger, consolidation, takeover, change in ownership structure, and/or change in management that causes a change in Related Parties and/or Borrower groups, and/or change in regulations.
  3. The Rural Bank Capital used in the calculation of BMPK exceedance is the amount of core capital and supplementary capital in accordance with the Financial Services Authority Regulation regarding minimum capital provision obligations and minimum core capital fulfillment for Rural Banks at the position of the current month.
  4. Example Calculation of BMPK Exceedance due to Decrease in Rural Bank Capital
    Rural Bank “X” provides Credit facilities with installment payments to Mr. A (Unrelated Party) which is disbursed in a lump sum with the following conditions:
    a. Rural Bank Capital:
  1. Position August 2023 amounting to Rp8,000,000,000.00 (eight billion rupiah).
  2. Position September 2023 amounting to Rp6,000,000,000.00 (six billion rupiah).
    b. BMPK for Unrelated Parties at the September 2023 position is at most (20%)
  3. For the calculation of BMPK violation amounting to Rp1,600,000,000.00 (one billion six hundred million rupiah) (= 20% x Rp8,000,000,000.00).
  4. For the calculation of BMPK exceedance amounting to Rp1,200,000,000.00 (one billion two hundred million rupiah) (= 20% x Rp6,000,000,000.00).
    c. Credit Facility: Rp1,500,000,000.00 (one billion five hundred million rupiah).
    d. Term: 18 (eighteen) months. e. Credit Agreement Date: 18 September 2023. f. Credit Realization: Lump sum disbursement on 26 September 2023. g. Debit Balance: Position September 2023 amounting to Rp1,500,000,000.00 (one billion five hundred million rupiah).

Calculation of BMPK Exceedance a. Position September 2023 (Calculation at realization) Based on the percentage of the total debit balance of Credit to Mr. A amounting to Rp1,500,000,000.00 (one billion five hundred million rupiah) against the Rural Bank Capital at the August 2023 position amounting to Rp8,000,000,000.00 (eight billion rupiah), it does not exceed the percentage of BMPK for Unrelated Parties. Thus, the Credit to Mr. A does not violate the BMPK. b. Position September 2023 (End of month calculation) Based on the percentage of Mr. A’s debit balance at the September 2023 position amounting to Rp1,500,000,000.00 (one billion five hundred million rupiah) against the Rural Bank Capital at the September 2023 position amounting to Rp6,000,000,000.00 (six billion rupiah) minus the percentage of BMPK for Unrelated Parties (20%), the result is obtained as follows:
(Rp1,500,000,000.00 / Rp6,000,000,000.00 x 100%) – 20% = 5% Thus, there is a BMPK exceedance of 5% (five percent).

  1. Example Calculation of BMPK Exceedance due to Interbank Fund Placement for Addressing Potential and/or Liquidity Issues of Other Rural Banks and Sharia Rural Banks
    a. At the November 2023 position, Rural Bank “Y” has carried out:
  1. Fund Provision in the form of Credit or Interbank Fund Placement to Related Parties including Rural Bank “A”, “B” and “C”. The Fund Provision by Rural Bank “Y” to the aforementioned Related Parties does not exceed the BMPK for Related Parties amounting to 10% (ten percent).
  2. Fund Provision in the form of Interbank Fund Placement to Rural Bank “D” (Unrelated Party) and the aforementioned Fund Provision does not exceed the BMPK for Unrelated Parties amounting to 20% (twenty percent).
  3. Subsequently, in the same month, the Rural Bank also carried out Interbank Fund Placement for addressing liquidity issues to several Rural Banks as follows:
    a) Rural Bank “A” (Related Party) in the form of a deposit certificate amounting to Rp300,000,000.00 (three hundred million rupiah) with a term of 6 (six) months, starting date 3 November 2023. b) Rural Bank “B” (Related Party) in the form of a deposit certificate amounting to Rp1,000,000,000.00 (one billion rupiah), with a term of 6 (six) months, starting date 10 November 2023. c) Rural Bank “C” (Related Party) in the form of a deposit certificate amounting to Rp800,000,000.00 (eight hundred million rupiah) with a term of 6 (six) months, starting date 17 November 2023. d) Rural Bank “D” (Unrelated Party) in the form of a deposit certificate amounting to Rp200,000,000.00 (two hundred million rupiah) with a term of 6 (six) months, starting date 24 November 2023. b. Capital of Rural Bank “X”
  4. Position October 2023 amounting to Rp8,000,000,000.00 (eight billion rupiah).
  5. Position November 2023 amounting to Rp7,000,000,000.00 (seven billion rupiah).
    c. BMPK for Interbank Fund Placement for Addressing Potential and/or Liquidity Issues to Related Parties and Unrelated Parties at the November 2023 position:
  6. For the calculation of BMPK violation amounting to Rp2,400,000,000.00 (two billion four hundred million rupiah) = (30% x Rp8,000,000,000.00).
  7. For the calculation of BMPK exceedance amounting to Rp2,100,000,000.00 (two billion one hundred million rupiah) = (30% x Rp7,000,000,000.00).
    d. Calculation of BMPK Violation and Exceedance Calculation of BMPK Violation Position November 2023
NameFund Provision AmountBMPKBMPK Violation NominalBMPK Violation %
Rural Bank “A”300,000,0002,400,000,000
Rural Bank “B”1,000,000,0002,400,000,000
Rural Bank “C”800,000,0002,400,000,000
Rural Bank “D”200,000,0002,400,000,000
Total Fund Provision for Addressing Potential and/or Liquidity Issues2,300,000,0002,400,000,000

Based on the percentage realization of Interbank Fund Placement for addressing potential and/or liquidity issues on Borrowers, both Related Parties and Unrelated Parties, namely Rural Bank “A”, Rural Bank “B”, Rural Bank “C” and Rural Bank “D” amounting to Rp2,300,000,000.00 (two billion three hundred million rupiah) against the Capital of Rural Bank “X” at the October 2023 position amounting to Rp8,000,000,000.00 (eight billion rupiah), it does not exceed the percentage of BMPK for addressing potential and/or liquidity issues. Thus, there is no BMPK violation for addressing potential and/or liquidity issues.

Calculation of BMPK Exceedance Position November 2023

NameFund Provision AmountBMPKBMPK Exceedance NominalBMPK Exceedance %
Rural Bank “A”300,000,0002,100,000,000
Rural Bank “B”1,000,000,0002,100,000,000
Rural Bank “C”800,000,0002,100,000,000
Rural Bank “D”200,000,0002,100,000,000
Total Fund Provision for Addressing Potential and/or Liquidity Issues2,300,000,0002,100,000,000200,000,0000.3

Based on the realization of Interbank Fund Placement for addressing potential and/or liquidity issues on Borrowers, both Related Parties and Unrelated Parties, namely Rural Bank “A”, Rural Bank “B”, Rural Bank “C” and Rural Bank “D” amounting to Rp2,300,000,000.00 (two billion three hundred million rupiah) against the Capital of Rural Bank “X” at the November 2023 position amounting to Rp7,000,000,000.00 (seven billion rupiah) minus the percentage of BMPK for addressing potential and/or liquidity issues (30%), the result is obtained as follows:
(Rp2,300,000,000.00 / Rp7,000,000,000.00 x 100%) – 30% = 0.3%.
Thus, there is a BMPK exceedance for addressing potential and/or liquidity issues amounting to 0.3% (zero point three percent).

Signed,
Mufli Asmawidjaja

Thus, there is a BMPK exceedance for addressing potential and/or liquidity issues amounting to 0.3% (zero point three percent).

Determined in Jakarta on 15 August 2023
EXECUTIVE HEAD OF BANKING SUPERVISOR
FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA,
Signed,
DIAN EDIANA RAE

APPENDIX II
CIRCULAR LETTER OF THE FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA NUMBER 11/SEOJK.03/2023 REGARDING THE MAXIMUM LIMIT FOR CREDIT GRANTING BY RURAL BANKS AND THE MAXIMUM LIMIT FOR FUND DISBURSEMENT BY SHARIA RURAL BANKS

I. CALCULATION OF BMPD

  1. BMPD for Financing
    a. BMPD for Financing is calculated based on the debit balance of all Financing received by the Recipient of Facilities Customer. b. Sharia Rural Banks are not permitted to provide Fund Disbursement that is utilized not by the Recipient of Facilities Customer stated in the financing agreement or contract. In the event of deviations in the provision of Financing, such as the provision of Fund Disbursement that is utilized not by the Recipient of Facilities Customer stated in the financing agreement or contract, BMPD is calculated based on the debit balance of all Financing received by the party utilizing the Financing.
    c. In accordance with Article 3 paragraph (1) of the POJK on BMPK for Rural Banks, Sharia Rural Banks, and Rural Credit Banks, Sharia Rural Banks are prohibited from making agreements or setting requirements that obligate the Sharia Rural Bank to provide Fund Disbursement that will result in a BMPD violation.
  2. The calculation of BMPD for Financing based on debit balance as referred to in number 1 is carried out in accordance with the type of contract used, namely:
    a. Murabahah Financing, Istishna Financing, and Multijasa Financing are calculated based on the principal price balance; b. Mudarabah Financing, Musyarakah Financing, and Qardh Financing are calculated based on the amount, namely the Financing balance amount;
    c. Ijarah Financing or Ijarah Muntahiya Bittamlik (IMBT) is calculated based on the acquisition price minus the accumulated depreciation of ijarah assets minus the Provision for Impairment Losses (CKPN) of ijarah assets plus principal arrears; and/or
    d. Salam Financing is calculated based on the acquisition price.
  3. BMPD for Interbank Fund Placement in the Form of Savings and Deposits
    The calculation of BMPD for Interbank Fund Placement in the form of savings is carried out based on the savings balance or in the form of deposits amounting to the nominal amount of deposits in the reporting month.
  4. BMPD for Fund Disbursement to Related Parties
    a. The calculation of BMPD for Fund Disbursement to Related Parties is carried out based on the total amount of Financing to non-banks and Interbank Fund Placement to all other Sharia Rural Banks that are Related Parties of the Sharia Rural Bank. b. BMPD for Fund Disbursement to Related Parties is 10% (ten percent) of the Capital of the Sharia Rural Bank.
  5. BMPD for Interbank Fund Placement on Other Unrelated Party Sharia Rural Banks
    The calculation of BMPD for Interbank Fund Placement on other Sharia Rural Banks that are Unrelated Parties is carried out based on the total amount of Interbank Fund Placement on each Unrelated Party Sharia Rural Bank at most 20% (twenty percent) of the Capital of the Sharia Rural Bank.
  6. BMPD in the Form of Financing to 1 (One) Unrelated Party Recipient of Facilities Customer
    The calculation of BMPD in the form of Financing to each Unrelated Party Recipient of Facilities Customer is set at most 20% (twenty percent) of the Capital of the Sharia Rural Bank.
  7. BMPD in the Form of Financing to 1 (One) or More Unrelated Party Recipient of Facilities Customers that are Part of the Group of Unrelated Party Recipient of Facilities Customers
    The calculation of BMPD in the form of Financing to 1 (one) or more Unrelated Party Recipient of Facilities Customers that are part of the group of Unrelated Party Recipient of Facilities Customers is calculated based on the provision of Financing to:
    a. each Unrelated Party Recipient of Facilities Customer at most 20% (twenty percent) of the Capital of the Sharia Rural Bank; and b. 1 (one) group of Unrelated Party Recipient of Facilities Customers at most 30% (thirty percent) of the Capital of the Sharia Rural Bank. Included in the definition of 1 (one) group of Recipient of Facilities Customers are non-bank Recipient of Facilities Customers that have management, ownership, and/or financial relationships with the bank as the Recipient of Facilities Customer.
  8. BMPD in the Form of Interbank Fund Placement for Addressing Potential and/or Liquidity Issues of Other Sharia Rural Banks
    The calculation of BMPD in the form of Interbank Fund Placement for addressing potential and/or liquidity issues is carried out based on all Interbank Fund Placement in the form of savings and/or deposits on other Sharia Rural Banks including Related Parties and Unrelated Parties at most 30% (thirty percent) of the Capital of the Sharia Rural Bank.
  9. BMPD violations and exceedances must be taken into account in the risk profile and governance assessment that has a significant impact on the determination of the health level value of Sharia Rural Banks in accordance with the Financial Services Authority Regulation regarding the assessment of the health level of rural credit banks and Sharia rural credit banks.
  10. The portion of Interbank Fund Placement on other Sharia Rural Banks is excluded from the BMPD calculation as long as it meets the requirements as referred to in Article 24 of the POJK on BMPK for Rural Banks, Sharia Rural Banks, and Rural Credit Banks. Example:
    There are 28 (twenty-eight) Sharia Rural Banks that make an agreement to place funds in the form of deposits, contributions, or portions of funds on one designated Sharia Rural Bank to coordinate the management of accumulated funds. In the agreement, it is contained among others:
    a. the amount of deposits, contributions, or portions of funds that must be placed by each Sharia Rural Bank on the designated Sharia Rural Bank, for example Rp25,000,000.00 (twenty-five million rupiah) for each Sharia Rural Bank; and/or b. the maximum amount of liquidity funds that can be placed by the designated Sharia Rural Bank to one of the 28 (twenty-eight) Sharia Rural Banks, for example 10 (ten) times the amount of deposits, contributions, or portions of funds placed or Rp250,000,000.00 (two hundred fifty million rupiah). Excluded from the BMPD calculation in the example above are:
    a. each fund placement from the 28 (twenty-eight) Sharia Rural Banks to the designated Sharia Rural Bank amounting to Rp25,000,000.00 (twenty-five million rupiah); and b. fund placement from the designated Sharia Rural Bank to one of the 28 (twenty-eight) Sharia Rural Banks experiencing liquidity difficulties amounting to Rp250,000,000.00 (two hundred fifty million rupiah).
  11. In accordance with Article 34 of the POJK on BMPK for Rural Banks, Sharia Rural Banks, and Rural Credit Banks, all existing Recipient of Facilities Customers of Sharia Rural Banks before the POJK on BMPK for Rural Banks, Sharia Rural Banks, and Rural Credit Banks came into effect and fall into the criteria of Related Parties for individuals or companies that are controllers of the Sharia Rural Bank as referred to in Article 8 paragraph (1) letter a and letter d number 1 are calculated as Related Parties.
    In the event that before the POJK on BMPK for Rural Banks, Sharia Rural Banks, and Rural Credit Banks came into effect there were no violations or exceedances of BMPD and after the POJK came into effect there is an addition of Related Parties resulting in a BMPD exceedance, the Sharia Rural Bank establishes this condition as a status of BMPD exceedance against all Related Parties. In the event that before the POJK on BMPK for Rural Banks, Sharia Rural Banks, and Rural Credit Banks came into effect there were violations or exceedances of BMPD for Related Parties and after the POJK came into effect there is an addition of Related Parties resulting in a BMPD exceedance against new Related Parties, then:
    a. the Sharia Rural Bank establishes the status of BMPD exceedance against the aforementioned addition of new Related Parties; and b. the BMPD violation or exceedance that was established by the Sharia Rural Bank before the POJK on BMPK for Rural Banks, Sharia Rural Banks, and Rural Credit Banks came into effect remains a BMPD violation or exceedance.

II. BMPD VIOLATION

  1. A Sharia Rural Bank is stated to have committed a BMPD violation in the event of a surplus difference between the percentage of Fund Disbursement at the time of realization against the Capital of the Sharia Rural Bank with the permitted BMPD, including in the event that the Sharia Rural Bank carries out Financing restructuring.
  2. The Capital of the Sharia Rural Bank used in the BMPD calculation is the amount of core capital and supplementary capital in accordance with the Financial Services Authority Regulation regarding minimum capital provision obligations and minimum core capital fulfillment for Sharia Rural Banks at the position of the last month before the realization of Fund Disbursement.
  3. The Sharia Rural Bank remains assessed as violating BMPD as long as the BMPD violation has not been resolved.
  4. In the event of a BMPD violation in the form of Fund Disbursement in the form of Financing to 1 (one) or more Unrelated Party Recipient of Facilities Customers that are part of the group of Unrelated Party Recipient of Facilities Customers, the BMPD violation is calculated based on the sum of violations over the provision of Financing to each Recipient of Facilities Customer and the violation of provision of Financing to 1 (one) group of Unrelated Party Recipient of Facilities Customers.
  5. In the event of Fund Disbursement to Related Parties in the current month that causes a BMPD violation, the Sharia Rural Bank establishes the status of BMPD violation against all Related Parties.
  6. Example Calculation of BMPD Violation by Sharia Rural Banks:
    a. Fund Disbursement in the form of Financing and Interbank Fund Placement to Related Parties of Sharia Rural Banks Sharia Rural Bank “X” carries out Fund Disbursement in the form of Financing to several Recipient of Facilities Customers and Interbank Fund Placement to Sharia Rural Bank “Y” (Related Party) with the following conditions:
  1. Fund Disbursement to several Recipient of Facilities Customers and Sharia Rural Bank “Y” each as follows:
    a) Mudarabah to Mr. A amounting to Rp200,000,000.00 (two hundred million rupiah), with a term of 2 (two) years, contract date 4 September 2023. b) Musyarakah to Mr. B amounting to Rp100,000,000.00 (one hundred million rupiah), with a term of 2 (two) years, contract date 6 September 2023. c) Murabahah for agricultural equipment to Mr. C with a principal price amounting to Rp200,000,000.00 (two hundred million rupiah) and a margin amounting to Rp14,000,000.00 (fourteen million rupiah), with a term of 12 (twelve) months, contract date 7 September 2023. d) Interbank Fund Placement on Sharia Rural Bank “Y” in the form of mudarabah deposit amounting to Rp200,000,000.00 (two hundred million rupiah), with a term of 6 (six) months, starting date 25 September 2023.
  2. Mr. A, Mr. B, Mr. C, and the aforementioned Sharia Rural Bank “Y” meet the criteria for Related Parties as referred to in Article 8 of the POJK on BMPK for Rural Banks, Sharia Rural Banks, and Rural Credit Banks.
  3. Capital of Sharia Rural Bank “X”
    a) Position August 2023 amounting to Rp6,000,000,000.00 (six billion rupiah). b) Position September 2023 amounting to Rp8,000,000,000.00 (eight billion rupiah).
  4. BMPD for Related Parties:
    All Related Parties at most 10% (ten percent):
    a) Position September 2023 amounting to Rp600,000,000.00 (six hundred million rupiah) = (10% x Rp6,000,000,000.00). b) Position October 2023 amounting to Rp800,000,000.00 (eight hundred million rupiah) = (10% x Rp8,000,000,000.00).
  5. Calculation of BMPD Violation
    Position September 2023
NameFund Disbursement AmountBMPDBMPD Violation NominalBMPD Violation %
A200,000,000
B100,000,000
C200,000,000
Sharia Rural Bank “Y”200,000,000
Total Fund Disbursement by Customers A, B, C, and Sharia Rural Bank “Y”700,000,000600,000,000100,000,0001.67

Based on the percentage of Fund Disbursement at the time of realization to Mr. A, Mr. B, Mr. C, and Sharia Rural Bank “Y” amounting to Rp700,000,000.00 (seven hundred million rupiah) against the Capital of Sharia Rural Bank at the August 2023 position amounting to Rp6,000,000,000.00 (six billion rupiah) minus the percentage of BMPD for Related Parties (10%), the result is obtained as follows:
(Rp700,000,000.00 / Rp6,000,000,000.00 x 100%) – 10% = 1.67%.
Thus, there is a BMPD violation for Related Parties amounting to 1.67% (one point six seven percent).

b. Fund Disbursement to Unrelated Party Recipient of Facilities Customers

  1. Sharia Rural Bank “X” carries out Fund Disbursement in the form of Murabahah Financing for house purchase to Mr. Y (Unrelated Party) with a house principal price amounting to Rp2,500,000,000.00 (two billion five hundred million rupiah), with a term of 50 (fifty) months, contract date 11 September 2023.
  2. Capital of Sharia Rural Bank “X”
    a) Position August 2023 amounting to Rp10,000,000,000.00 (ten billion rupiah). b) Position September 2023 amounting to Rp9,000,000,000.00 (nine billion rupiah).
  3. BMPD for Unrelated Parties:
    a) Position September 2023 amounting to Rp2,000,000,000.00 (two billion rupiah) = (20% x Rp10,000,000,000.00) b) Position October 2023 amounting to Rp1,800,000,000.00 (one billion eight hundred million rupiah) = (20% x Rp9,000,000,000.00)
  4. Calculation of BMPD Violation
    Position September 2023
    Based on the percentage of Financing at the time of realization to Mr. Y amounting to Rp2,500,000,000.00 (two billion five hundred million rupiah) against the Capital of Sharia Rural Bank at the August 2023 position amounting to Rp10,000,000,000.00 (ten billion rupiah) minus the percentage of BMPD for Unrelated Parties (20%), the result is obtained as follows:
    (Rp2,500,000,000.00 / Rp10,000,000,000.00 x 100%) – 20% = 5% (five percent).
    Thus, there is a BMPD violation of 5% (five percent).

c. Fund Disbursement in the Form of Financing to 1 (One) or More Unrelated Party Recipient of Facilities Customers that are Part of the Group of Unrelated Party Recipient of Facilities Customers

  1. Provision of Financing that Individually Exceeds or Does Not Exceed BMPD but as a Group of Recipient of Facilities Customers Exceeds BMPD
    Sharia Rural Bank “X” carries out Fund Disbursement in the form of Financing to several Recipient of Facilities Customers and Interbank Fund Placement to Sharia Rural Bank “Y” (Unrelated Party) with the following conditions:
    a) Fund Disbursement to several Recipient of Facilities Customers and Sharia Rural Bank “Y” each as follows:
    (1) Mudarabah to Mr. A amounting to Rp1,000,000,000.00 (one billion rupiah), with a term of 2 (two) years, contract date 4 September 2023.
    (2) Musyarakah to Mr. B amounting to Rp500,000,000.00 (five hundred million rupiah), with a term of 1 (one) year, contract date 6 September 2023.

(3) Murabahah for the purchase of a house to Mr. C with a house cost price of Rp2,100,000,000.00 (two billion one hundred million rupiah) and a margin of Rp500,000,000.00 (five hundred million rupiah), tenure of 50 (fifty) months, contract date 11 September 2023. (4) Salam for the purchase of IR45 rice totaling 20 (twenty) tons to Mr. D amounting to Rp200,000,000.00 (two hundred million rupiah), tenure of 6 (six) months, contract date 13 September 2023. (5) Ijarah over the right to use a kiosk obtained from Mr. F with a rental acquisition cost of Rp200,000,000.00 (two hundred million rupiah) for 2 (two) years to Mr. E, and BPRS sets the rental income (ujrah) at Rp50,000,000.00 (fifty million rupiah), tenure of 2 (two) years, contract date 25 September 2023. (6) Musyarakah to BPRS “Y” amounting to Rp1,500,000,000.00 (one billion five hundred million rupiah), tenure of 3 (three) years, contract date 13 September 2023. (7) Interbank Fund Placement at BPRS “Y” in the form of mudarabah deposits amounting to Rp800,000,000.00 (eight hundred million rupiah), tenure of 6 (six) months, starting from 25 September 2023. b) The Recipient of Facilities mentioned above have ownership, management, and/or financial relationships, thus constituting 1 (one) group of Recipient of Facilities, namely Group “Z”.

c) Capital of BPRS “X”
(1) August 2023 position at Rp10,000,000,000.00 (ten billion rupiah).
(2) September 2023 position at Rp11,000,000,000.00 (eleven billion rupiah). d) BMPD for Non-Affiliated Parties:
(1) Individual Recipient of Facilities highest 20% (twenty percent):
(a) September 2023 position at Rp2,000,000,000.00 (two billion rupiah) = (20% x Rp10,000,000,000.00) (b) October 2023 position at Rp2,200,000,000.00 (two billion two hundred million rupiah) = (20% x Rp11,000,000,000.00) (2) Group of Recipient of Facilities highest 30% (thirty percent):
(a) September 2023 position at Rp3,000,000,000.00 (three billion rupiah) = (30% x Rp10,000,000,000.00) (b) October 2023 position at Rp3,300,000,000.00 (three billion three hundred million rupiah) = (30% x Rp11,000,000,000.00)

BMPD Violation Calculation
September 2023 Position

NameFund Disbursement AmountBMPDBMPD Violation
Nominal%
A1,000,000,0002,000,000,000
B500,000,0002,000,000,000
C2,100,000,0002,000,000,000100,000,0001
D200,000,0002,000,000,000
E200,000,0002,000,000,000
BPRS “Y”1,500,000,000 + 800,000,000 = 2,300,000,0002,000,000,000300,000,0003
Group “Z”
Total Fund Disbursement A, B, C, D, E, and BPRS “Y” = 5,500,000,0003,000,000,0002,500,000,00025

a) BMPD for Individual Recipient of Facilities (1) Based on the percentage of Fund Disbursement to Mr. C amounting to Rp2,100,000,000.00 (two billion one hundred million rupiah) against BPRS Capital at the August 2023 position of Rp10,000,000,000.00 (ten billion rupiah) minus the percentage of BMPD for Non-Affiliated Parties (20%), the result is as follows:
(Rp2,100,000,000.00 / Rp10,000,000,000.00 x 100%) – 20% = 1% Thus, there is a violation of BMPD for Non-Affiliated Parties of 1% (one percent).
(2) Based on the percentage of Fund Disbursement to BPRS “Y” amounting to Rp2,300,000,000.00 (two billion three hundred million rupiah) against BPRS Capital at the August 2023 position of Rp10,000,000,000.00 (ten billion rupiah) minus the percentage of BMPD for Non-Affiliated Parties (20%), the result is as follows:
(Rp2,300,000,000.00 / Rp10,000,000,000.00 x 100%) – 20% = 3% Thus, there is a violation of BMPD for Non-Affiliated Parties of 3% (three percent). (3) Based on the percentage of Fund Disbursement by BPRS “X” to each of Mr. A, Mr. B, Mr. D, and Mr. E against BPRS Capital at the August 2023 position, it does not exceed the percentage of BMPD for Non-Affiliated Parties. Thus, Financing to Mr. A, Mr. B, Mr. D, and Mr. E does not violate BMPD for Non-Affiliated Parties. b) BMPD for Group of Recipient of Facilities Considering Mr. A, Mr. B, Mr. C, Mr. D, Mr. E, and BPRS “Y” meet the criteria for the Group of Recipient of Facilities, the BMPD calculation is also calculated based on Fund Disbursement in the form of Financing to the Group of Recipient of Facilities amounting to Rp5,500,000,000.00 (five billion five hundred million rupiah). The BMPD for Non-Affiliated Group of Recipient of Facilities is 30% (thirty percent). The calculation for the BMPD of the Group of Recipient of Facilities is as follows:
(Rp5,500,000,000.00 / Rp10,000,000,000.00 x 100%) – 30% = 25%.
Thus, there is a violation of BMPD for Non-Affiliated Group of Recipient of Facilities of 25% (twenty-five percent).

  1. Fund Disbursement to Other BPRS where Individual Recipient of Facilities Exceeds BMPD but Group of Recipient of Facilities Does Not Exceed BMPD
    BPRS “Y” places its funds in BPRS “Z” and provides Financing facilities to PT A (a Non-Affiliated Party that holds 40% (forty percent) of the shares of BPRS “Z”) under the following conditions:
    a) Capital of BPRS “Y”: October 2023 position at Rp8,000,000,000.00 (eight billion rupiah). b) BMPD for Non-Affiliated Parties:
    (1) Individual Recipient of Facilities: 20% or amounting to Rp1,600,000,000.00 (one billion six hundred million rupiah).
    (= 20% x Rp8,000,000,000.00)
    (2) Group of Recipient of Facilities: 30% or amounting to Rp2,400,000,000.00 (two billion four hundred million rupiah) (= 30% x Rp8,000,000,000.00). c) Fund Disbursement by BPRS “Y” to BPRS “Z” in the form of:
    (1) Mudarabah deposits: Rp500,000,000.00 (five hundred million rupiah), tenure of 6 (six) months starting from 13 November 2023.
    (2) Musyarakah: Rp1,500,000,000.00 (one billion five hundred million rupiah), tenure of 36 (thirty-six) months, contract date 13 November 2023. d) BPRS “Y” provides mudarabah Financing to PT A amounting to Rp800,000,000.00 (eight hundred million rupiah), tenure of 24 (twenty-four) months, contract date 20 November 2023.

BMPD Violation Calculation:
November 2023 Position

NameFund Disbursement AmountBMPDBMPD Violation
Nominal%
BPRS “Z”500,000,000 + 1,500,000,000 = 2,000,000,0001,600,000,000400,000,0005
PT A800,000,0001,600,000,000
Group of Recipients
Total Financing BPRS “Z” and PT A = 2,300,000,0002,400,000,000

a) BMPD for Individual Recipient of Facilities (1) Interbank Fund Placement by BPRS “Y” to BPRS “Z” in the form of mudarabah deposits amounting to Rp500,000,000.00 (five hundred million rupiah) and Financing amounting to Rp1,500,000,000.00 (one billion five hundred million rupiah), so the total Interbank Fund Placement amount is Rp2,000,000,000.00 (two billion rupiah). The BMPD for Interbank Fund Placement to other BPRS is 20%. The calculation for the BMPD of Interbank Fund Placement is as follows:
(Rp2,000,000,000.00 / Rp8,000,000,000.00 x 100%) – 20% = 5%.
Thus, there is a violation of BMPD for Non-Affiliated Parties of 5% (five percent).
(2) Based on the percentage of Financing by BPRS “Y” to PT A amounting to Rp800,000,000.00 (eight hundred million rupiah) against BPRS Capital at the October 2023 position of Rp8,000,000,000.00 (eight billion rupiah), it does not exceed the percentage of BMPD for Non-Affiliated Parties. Thus, Financing to PT A does not violate BMPD for Non-Affiliated Parties.

b) BMPD for Group of Recipient of Facilities
Considering BPRS “Z” and PT A meet the criteria for the Group of Recipient of Facilities, the BMPD calculation is also calculated based on the Group of Recipient of Facilities. Based on the percentage of Fund Disbursement to BPRS “Z” and PT A amounting to Rp2,300,000,000.00 (two billion three hundred million rupiah) against BPRS Capital at the October 2023 position of Rp8,000,000,000.00 (eight billion rupiah), it does not exceed the percentage of BMPD for Non-Affiliated Group of Recipient of Facilities. Thus, Financing to BPRS “Z” and PT A as a Group of Non-Affiliated Recipient of Facilities does not violate BMPD.

  1. Provision of Financing where Individual and Group of Recipient of Facilities Exceed BMPD
    BPRS “B” provides Financing facilities to PT X and PT Y which are Non-Affiliated Parties. PT X and PT Y are owned by Mr. “S” with 50% share ownership in each PT. The delivery of Financing is done simultaneously under the following conditions:
    a) Capital of BPRS “B”: November 2023 position at Rp7,000,000,000.00 (seven billion rupiah). b) BMPD for Non-Affiliated Parties:
    (1) Individual Recipient of Facilities highest 20% (twenty percent):
    Rp1,400,000,000.00 (one billion four hundred million rupiah).
    (= 20% x Rp7,000,000,000.00).
    (2) Group of Recipient of Facilities highest 30% (thirty percent):
    Rp2,100,000,000.00 (two billion one hundred million rupiah).
    (= 30% x Rp7,000,000,000.00). c) Financing facilities in the form of:
    (1) Musyarakah to PT X amounting to Rp1,700,000,000.00 (one billion seven hundred million rupiah), tenure of 48 (forty-eight) months, contract date 4 December 2023. (2) Murabahah for warehouse purchase to PT Y amounting to Rp1,500,000,000.00 (one billion five hundred million rupiah), tenure of 48 (forty-eight) months, contract date 11 December 2023.

BMPD Violation Calculation
December 2023 Position a) BMPD for Individual Recipient of Facilities (1) Fund Disbursement of Financing by BPRS “B” to PT X amounting to Rp1,700,000,000.00 (one billion seven hundred million rupiah) violates BMPD with the following calculation:
(Rp1,700,000,000.00 / Rp7,000,000,000.00 x 100%) – 20% = 4.29%.
(2) Fund Disbursement of Financing by BPRS “B” to PT Y amounting to Rp1,500,000,000.00 (one billion five hundred million rupiah) violates BMPD with the following calculation:
(Rp1,500,000,000.00 / Rp7,000,000,000.00 x 100%) – 20% = 1.43%. b) BMPD for Group of Recipient of Facilities Considering PT X and PT Y meet the criteria for the Group of Non-Affiliated Recipient of Facilities, the BMPD calculation is also calculated based on the Group of Recipient of Facilities amounting to Rp3,200,000,000.00 (three billion two hundred million rupiah) (Rp1,700,000,000.00 + Rp1,500,000,000.00). The BMPD for Non-Affiliated Group of Recipient of Facilities is highest at 30% (thirty percent). The calculation for the BMPD of the Group of Recipient of Facilities is as follows:
(Rp3,200,000,000.00 / Rp7,000,000,000.00 x 100%) – 30% = 15.71%.
Based on the calculations above:
a) Fund Disbursement of Financing by BPRS “B” to PT X individually violates BMPD by 4.29% (four point two nine percent). b) Fund Disbursement of Financing by BPRS “B” to PT Y individually violates BMPD by 1.43% (one point four three percent). c) Fund Disbursement of Financing by BPRS “B” to PT X and PT Y as a Group of Non-Affiliated Recipient of Facilities violates BMPD for Non-Affiliated Group of Recipient of Facilities by 15.71% (fifteen point seven one percent).

d. Financing with Staged Delivery
BPRS “Y” provides mudarabah Financing facilities to Mr. B (a Non-Affiliated Party) as working capital with staged delivery under the following conditions:

  1. BPRS Capital:
    a) October 2023 position at Rp8,000,000,000.00 (eight billion rupiah). b) November 2023 position at Rp6,500,000,000.00 (six billion five hundred million rupiah).
  2. BMPD for Non-Affiliated Parties: 20%
    a) November 2023 position at Rp1,600,000,000.00 (one billion six hundred million rupiah).
    (= 20% x Rp8,000,000,000.00). b) December 2023 position at Rp1,300,000,000.00 (one billion three hundred million rupiah).
    (= 20% x Rp6,500,000,000.00).
  3. Fund Disbursement by BPRS “Y” to Mr. B amounting to Rp1,700,000,000.00 (one billion seven hundred million rupiah), tenure of 60 (sixty) months, contract date 8 November 2023. The delivery of this mudarabah Financing is done in stages as follows:
    (1) Stage I Financing Delivery, on 8 November 2023 delivered to Mr. B amounting to Rp900,000,000.00 (nine hundred million rupiah).
    (2) Stage II Financing Delivery, on 8 December 2023 delivered to customer B amounting to Rp800,000,000.00 (eight hundred million rupiah). The balance of Stage I Financing at the end of December 2023 is Rp885,000,000.00 (eight hundred eighty-five million rupiah).
  4. BMPD Violation Calculation
    a) November 2023 Position
    Based on the percentage of Fund Disbursement at the realization of Stage I Financing to Mr. B amounting to Rp900,000,000.00 (nine hundred million rupiah) against BPRS Capital at the October 2023 position of Rp8,000,000,000.00 (eight billion rupiah), it does not exceed the percentage of BMPD for Non-Affiliated Parties (20%). Thus, Stage I Financing to Mr. B does not violate BMPD for Non-Affiliated Parties. b) December 2023 Position With the realization or delivery of Stage II Financing to Mr. B amounting to Rp800,000,000.00 (eight hundred million rupiah), the total Financing balance becomes Rp1,685,000,000.00 (one billion six hundred eighty-five million rupiah), so the percentage of this Financing disbursement against BPRS Capital at the November 2023 position of Rp6,500,000,000.00 (six billion five hundred million rupiah) minus the percentage of BMPD for Non-Affiliated Parties (20%), the result is as follows:
    (Rp1,685,000,000.00 / Rp6,500,000,000.00 x 100%) – 20% = 5.92% Thus, there is a violation of BMPD for Non-Affiliated Parties of 5.92% (five point nine two percent).
  1. Example of BMPD Calculation for Fund Disbursement in the Form of Interbank Fund Placement for Mitigation of Potential and/or Liquidity Problems of Other BPRS
    a. November 2023 Position, BPRS “Y” has conducted:
  1. Fund Disbursement in the form of Financing or Interbank Fund Placement to Affiliated Parties including BPRS “A”, “B” and “C”. The Fund Disbursement by BPRS “Y” to the aforementioned Affiliated Parties does not exceed the BMPD for Affiliated Parties of 10% (ten percent).
  2. Fund Disbursement in the form of Interbank Fund Placement to BPRS “D” (Non-Affiliated Party) and the aforementioned Fund Disbursement does not exceed the BMPD for Non-Affiliated Parties of 20% (twenty percent).
  3. Subsequently, in the same month, the BPRS also conducts Interbank Fund Placement for liquidity problem mitigation to several BPRS as follows:
    (1) BPRS “A” (Affiliated Party) in the form of mudarabah deposit receipts amounting to Rp1,000,000,000.00 (one billion rupiah), tenure of 6 (six) months, start date 24 November 2023. (2) BPRS “B” (Affiliated Party) in the form of mudarabah deposit receipts amounting to Rp1,000,000,000.00 (one billion rupiah), tenure of 6 (six) months, start date 10 November 2023. (3) BPRS “C” (Affiliated Party) in the form of mudarabah deposit receipts amounting to Rp800,000,000.00 (eight hundred million rupiah), tenure of 6 (six) months, start date 3 November 2023. (4) BPRS “D” (Non-Affiliated Party) in the form of mudarabah deposit receipts amounting to Rp200,000,000.00 (two hundred million rupiah), tenure of 6 (six) months, start date 17 November 2023. b. Capital of BPRS “X”
  4. October 2023 position at Rp8,000,000,000.00 (eight billion rupiah).
  5. November 2023 position at Rp9,000,000,000.00 (nine billion rupiah).
    c. BMPD for Interbank Fund Placement for Mitigation of Potential and/or Liquidity Problems to Affiliated and Non-Affiliated Parties
  6. November 2023 position at Rp2,400,000,000.00 (two billion four hundred million rupiah) = (30% x Rp8,000,000,000.00).
  7. December 2023 position at Rp2,700,000,000.00 (two billion seven hundred million rupiah) = (30% x Rp9,000,000,000.00).
    d. BMPD Violation Calculation
    November 2023 Position
NameFund Disbursement AmountBMPDBMPD Violation
Nominal%
BPRS “A”1,000,000,0002,400,000,000
BPRS “B”1,000,000,0002,400,000,000
BPRS “C”800,000,0002,400,000,000
BPRS “D”200,000,0002,400,000,000
Total Fund Disbursement for Mitigation of Potential and/or Liquidity Problems3,000,000,0002,400,000,000600,000,0007.5

Based on the percentage of realization of Interbank Fund Placement for mitigation of potential and/or liquidity problems on Recipient of Facilities, both Affiliated and Non-Affiliated Parties namely BPRS “A”, BPRS “B”, BPRS “C” and BPRS “D” amounting to Rp3,000,000,000.00 (three billion rupiah) against BPRS Capital at the October 2023 position of Rp8,000,000,000.00 (eight billion rupiah) minus the percentage of BMPD for mitigation of potential and/or liquidity problems (30%), the result is as follows:
(Rp3,000,000,000.00 / Rp8,000,000,000.00 x 100%) – 30% = 7.5%.
Thus, there is a violation of BMPD for mitigation of potential and/or liquidity problems of 7.5% (seven point five percent).

  1. Based on the example of BMPD calculation as referred to in Roman II number 6 letter d, in the event that the amount of Fund Disbursement as per the contract exceeds the BMPD, in addition to violating the BMPD, the BPRS also violates Article 3 paragraph (1) of POJK BMPK BPR BMPD BPRS which regulates that BPRS is prohibited from making an agreement or setting requirements that obligate the BPRS to provide Fund Disbursement that will result in a violation of the BMPD.

III. EXCEEDANCE OF BMPD

  1. Fund Disbursement by BPRS is categorized as an exceedance of BMPD in the event of a surplus difference between the percentage of Fund Disbursement that has been realized against BPRS Capital and the permitted BMPD on the report date, including in the event that the BPRS conducts Financing restructuring and is not categorized as a violation of BMPD.
  2. Exceedance of BMPD can be caused by a decrease in BPRS Capital, merger, consolidation, takeover, change in ownership structure, and/or change in management that causes a change in Affiliated Parties and/or Group of Recipient of Facilities, and/or change in regulations.
  3. BPRS Capital used in the calculation of BMPD exceedance is the amount of core capital and supplementary capital in accordance with the Financial Services Authority Regulation regarding minimum capital provision requirements and minimum core capital fulfillment for BPRS at the position of the current month.
  4. Example of BMPD Exceedance Calculation due to Decrease in BPRS Capital “X” conducting Fund Disbursement to Mr. A (Non-Affiliated Party) under the following conditions:
    a. Fund Disbursement in the form of murabahah Financing for house purchase to Mr. A on 15 August 2023 with a cost price of Rp1,500,000,000.00 (one billion five hundred million rupiah) with a margin of Rp600,000,000.00 (six hundred million rupiah) for a tenure of 60 (sixty) months. The murabahah Financing is amortized monthly at Rp35,000,000.00 (thirty-five million rupiah). b. BPRS Capital:
  1. August 2023 position at Rp8,500,000,000.00 (eight billion five hundred million rupiah).
  2. September 2023 position at Rp8,000,000,000.00 (eight billion rupiah).
  3. October 2023 position at Rp6,000,000,000.00 (six billion rupiah).
    c. BMPD for Non-Affiliated Parties highest 20% (twenty percent):
  4. August 2023 position at Rp1,700,000,000.00 (one billion seven hundred million rupiah) = (20% x Rp8,500,000,000.00).
  5. September 2023 position at Rp1,600,000,000.00 (one billion six hundred million rupiah) = (20% x Rp8,000,000,000.00).
  6. October 2023 position at Rp1,200,000,000.00 (one billion two hundred million rupiah) = (20% x Rp6,000,000,000.00).
    d. Murabahah Financing Balance is as follows:
  7. August 2023 position receivable balance of Rp1,500,000,000.00 (one billion five hundred million rupiah) and deferred margin balance of Rp600,000,000.00 (six hundred million rupiah).
  8. September 2023 position receivable balance of Rp1,475,000,000.00 (one billion four hundred seventy-five million rupiah) and deferred margin balance of Rp590,000,000.00 (five hundred ninety million rupiah).
  9. October 2023 position receivable balance of Rp1,450,000,000.00 (one billion four hundred fifty million rupiah) and deferred margin balance of Rp580,000,000.00 (five hundred eighty million rupiah).
    e. Calculation of BMPD exceedance for Individual Mr. A (Non-Affiliated Party) at August, September and October 2023 positions as follows:
MonthBalance Cost PriceBMPDBMPD Exceedance
Nominal%
August1,500,000,0001,700,000,000
September1,475,000,0001,600,000,000
October1,450,000,0001,200,000,000250,000,0004.16

Based on the calculations above, the percentage of realization of Financing by BPRS “X” to Mr. A who is a Non-Affiliated Party of the BPRS individually exceeds the BMPD for Non-Affiliated Parties by 4.16% (four point one six percent) in October 2023.

  1. Example of BMPD Exceedance Calculation due to Interbank Fund Placement for Mitigation of Potential and/or Liquidity Problems of Other BPRS
    a. November 2023 Position, BPRS “Y” has conducted:
  1. Fund Disbursement in the form of Financing or Interbank Fund Placement to Affiliated Parties including BPRS “A”, “B” and “C”. The Fund Disbursement by BPRS “Y” to the aforementioned Affiliated Parties does not exceed the BMPD for Affiliated Parties of 10%.
  2. Fund Disbursement in the form of Interbank Fund Placement to BPRS “D” (Non-Affiliated Party) and the aforementioned Fund Disbursement does not exceed the BMPD for Non-Affiliated Parties of 20%.
  3. Subsequently, in the same month, the BPRS also conducts Interbank Fund Placement for liquidity problem mitigation to several BPRS as follows:
    (1) BPRS “A” (Affiliated Party) in the form of mudarabah deposit receipts amounting to Rp300,000,000.00 (three hundred million rupiah), tenure of 6 (six) months, start date 3 November 2023. (2) BPRS “B” (Affiliated Party) in the form of mudarabah deposit receipts amounting to Rp1,000,000,000.00 (one billion rupiah), tenure of 6 (six) months, start date 10 November 2023. (3) BPRS “C” (Affiliated Party) in the form of mudarabah deposit receipts amounting to Rp800,000,000.00 (eight hundred million rupiah), tenure of 6 (six) months, start date 17 November 2023. (4) BPRS “D” (Non-Affiliated Party) in the form of mudarabah deposit receipts amounting to Rp200,000,000.00 (two hundred million rupiah), tenure of 6 (six) months, start date 24 November 2023. b. Capital of BPRS “X”
  4. October 2023 position at Rp8,000,000,000.00 (eight billion rupiah).
  5. November 2023 position at Rp7,000,000,000.00 (seven billion rupiah).
    c. BMPD for Interbank Fund Placement for Mitigation of Potential and/or Liquidity Problems to Affiliated and Non-Affiliated Parties at November 2023 position:
  6. For BMPD violation calculation amounting to Rp2,400,000,000.00 (two billion four hundred million rupiah) = (30% x Rp8,000,000,000.00).
  7. For BMPD exceedance calculation amounting to Rp2,100,000,000.00 (two billion one hundred million rupiah) = (30% x Rp7,000,000,000.00).

d. BMPD Violation and Exceedance Calculation
BMPD Violation Calculation November 2023 Position

NameFund Disbursement AmountBMPDBMPD Violation
Nominal%
BPRS “A”300,000,0002,400,000,000
BPRS “B”1,000,000,0002,400,000,000
BPRS “C”800,000,0002,400,000,000
BPRS “D”200,000,0002,400,000,000
Total Fund Disbursement for Mitigation of Potential and/or Liquidity Problems2,300,000,0002,400,000,000

Based on the percentage of realization of Interbank Fund Placement for mitigation of potential and/or liquidity problems on Recipient of Facilities, both Affiliated and Non-Affiliated Parties namely BPRS “A”, BPRS “B”, BPRS “C” and BPRS “D” amounting to Rp2,300,000,000.00 (two billion three hundred million rupiah) against BPRS “X” Capital at the October 2023 position of Rp8,000,000,000.00 (eight billion rupiah), it does not exceed the percentage of BMPD for mitigation of potential and/or liquidity problems. Thus, there is no violation of BMPD for mitigation of potential and/or liquidity problems.

Calculation of Exceedance of BMPD Position November 2023 Name Amount Disbursement Funds BMPD Exceedance of BMPD Nominal % BPRS “A” 300,000,000 2,100,000,000 BPRS “B” 1,000,000,000 2,100,000,000 BPRS “C” 800,000,000 2,100,000,000 BPRS “D” 200,000,000 2,100,000,000 Total Disbursement Funds for Mitigation Potential and/or Liquidity Problems 2,300,000,000 2,100,000,000 200,000,000 0.3 Based on the realization of Interbank Fund Placement for mitigating potential and/or liquidity problems for Beneficiary Recipients of Facilities, both Related Parties and Unrelated Parties, namely BPRS “A”, BPRS “B”, BPRS “C” and BPRS “D” amounting to Rp2,300,000,000.00 (two billion three hundred million rupiah) against the Capital of BPRS “X” at the November 2023 position amounting to Rp7,000,000,000.00 (seven billion rupiah) minus the BMPD percentage for mitigating potential and/or liquidity problems (30%), the result is obtained as follows:
(Rp. 2,300,000,000.00 / Rp7,000,000,000.00 x 100%) – 30% = 0.3%

signed
Mufli Asmawidjaja
Thus, there is an exceedance of BMPD for mitigating potential and/or liquidity problems amounting to 0.3% (zero point three percent).
Established in Jakarta on 15 August 2023
EXECUTIVE HEAD OF BANKING SUPERVISOR
FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA, signed
DIAN EDIANA RAE

APPENDIX III
CIRCULAR LETTER OF THE FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA NUMBER 11/SEOJK.03/2023 CONCERNING AND MAXIMUM LIMIT FOR FUND DISBURSEMENT OF SHARIA RURAL BANKS

A. RECAPITULATION OF RELATED PARTY FUND PROVISION REPORT Name of BPR :
Capital Position KPMM
BMPK
Related
Party
Unrelated
Party
Related Party Group/ for
Mitigation of Potential and/or
Liquidity Problems
Address : Report Month
Report Month :
Previous Report Month
Print Date :
1 2 3 4 5 6 7
No. No. Borrower/Bank Identity Relationship of Connection with BPR Account Number Start Date Account Status Fund Provision Plafond Debit Balance/Amount A. Credit B. Fund Placement on Other BPRs and/or BPRSs Total Related Party Fund Provision

8 9 10 11 12
No.
Excluded Part of Fund Provision
Fund Provision – Excluded Part of
Fund Provision Guaranteed by Government Quality Status BMPK Indonesian Government/SOEs/Local SOEs Liquid Collateral A. Credit B. Fund Placement on Other BPRs and/or BPRSs Total Related Party Fund Provision

B. RECAPITULATION OF BMPK VIOLATION REPORT
Name of BPR :
Capital Position KPMM
BMPK
Related
Party
Unrelated
Party
Related Party Group/for Mitigation of Potential and/or Liquidity Problems Address : Report Month Report Month : Previous Report Month Print Date :
1 2 3 4 5 6 7
No. No. Borrower/Bank Identity Relationship of Connection with BPR Account Number Start Date Account Status Fund Provision Plafond Debit Balance/ Amount
I. Violation of Related Party Fund Provision
A. Credit
B. Fund Placement on Other BPRs and/or BPRSs
Total Related Party Fund Provision
Total Violation of Related Party Fund Provision
II. Violation of Unrelated Party Fund Provision
A. Credit
Individual X

Total Fund Provision for Individual X
Total Violation of Fund Provision for Individual X Individual Y Total Fund Provision for Individual Y Total Violation of Fund Provision for Individual Y Total Violation of Unrelated Party Fund Provision – Credit B. Interbank Fund Placement BPR A Credit Placement on BPR A Total Fund Provision for BPR A Total Violation of Fund Provision for BPR A BPR B Credit Placement on BPR B Total Fund Provision for BPR B Total Violation of Fund Provision for BPR B Total Violation of Unrelated Party Fund Provision – Interbank Fund Placement

C. Borrower Group
Group ABC
Total Fund Provision for Group ABC
Total Violation of Fund Provision for Group ABC Group XYZ Total Fund Provision for Group XYZ Total Violation of Fund Provision for Group XYZ Total Violation of Unrelated Party Fund Provision – Group
III. Violation of Fund Provision for Mitigation of Potential and/or Liquidity Problems
A. Related Party
Total Fund Placement for Mitigation of Potential and/or Liquidity Problems to Related Party B. Unrelated Party Total Fund Placement for Mitigation of Potential and/or Liquidity Problems to Unrelated Party Total Fund Placement for Mitigation of Potential and/or Liquidity Problems to Related Party and Unrelated Party Total Violation of Fund Placement for Mitigation of Potential and/or Liquidity Problems

8 9 10 11 12
No.
Excluded Part of Fund Provision
Fund Provision – Excluded Part of
Fund Provision
Quality Status
Guaranteed by Government
BMPK
Indonesian Government/SOEs/Local SOEs Liquid Collateral
I. Violation of Related Party Fund Provision
A. Credit
B. Fund Placement on Other BPRs and/or BPRSs
Total Related Party Fund
Provision
Total Violation of Related Party
Fund Provision
II. Violation of Unrelated Party Fund Provision
A. Credit
Individual X
Total Fund Provision for Individual X
Total Violation of Fund Provision for Individual X Individual Y

Total Fund Provision for Individual Y
Total Violation of Fund Provision for Individual Y Total Violation of Unrelated Party Fund Provision – Credit B. Interbank Fund Placement BPR A Credit Placement on BPR A Total Fund Provision for BPR A Total Violation of Fund Provision for BPR A BPR B Credit Placement on BPR B Total Fund Provision for BPR B Total Violation of Fund Provision for BPR B

Total Violation of Unrelated Party Fund
Provision –
Interbank Fund Placement
C. Borrower Group
Group ABC
Total Fund Provision for Group
ABC
Total Violation of Fund Provision for Group ABC Group XYZ Total Fund Provision for Group XYZ Total Violation of Fund Provision for Group XYZ Total Violation of Unrelated Party Fund Provision – Group
III. Violation of Fund Provision for Mitigation of Potential and/or Liquidity Problems
A. Related Party
Total Fund Placement for
Mitigation of Potential and/or
Liquidity Problems to
Related Party

B. Unrelated Party
Total Fund Placement for
Mitigation of Potential and/or
Liquidity Problems to
Unrelated Party
Total Fund Placement for
Mitigation of Potential and/or
Liquidity Problems to
Related Party and Unrelated Party
Total Violation of Fund Placement for Mitigation of Potential and/or Liquidity Problems

C. RECAPITULATION OF BMPK EXCEEDANCE REPORT
Name of BPR :
KPMM
BMPK
Related
Party
Unrelated
Party
Related Party Group/ for
Mitigation of Potential and/or
Liquidity Problems
Address : Report Month
Report
Month
: Previous Report Month
Print Date :
1 2 3 4 5 6 7
No. No. Borrower/Bank Identity Relationship of Connection with BPR Account Number Start Date Account Status Fund Provision Plafond Debit Balance/ Amount
I. Exceedance of Related Party Fund Provision
A. Credit
B. Fund Placement on Other BPRs and/or BPRSs
Total Related Party Fund Provision
Total Exceedance of Related Party Fund Provision

II. Exceedance of Unrelated Party Fund Provision
A. Credit
Individual X
Total Fund Provision for Individual X
Total Exceedance of Fund Provision for Individual X Individual Y Total Fund Provision for Individual Y Total Exceedance of Fund Provision for Individual Y Total Exceedance of Unrelated Party Fund Provision – Credit B. Interbank Fund Placement BPR A Credit Placement on BPR A Total Fund Provision for BPR A Total Exceedance of Fund Provision for BPR A BPR B Credit Placement on BPR B

Total Fund Provision for BPR B
Total Exceedance of Fund Provision for BPR B
Total Exceedance of Unrelated Party Fund Provision – Interbank Fund Placement
C. Borrower Group
Group ABC
Total Fund Provision for Group ABC
Total Exceedance of Fund Provision for Group ABC Group XYZ Total Fund Provision for Group XYZ Total Exceedance of Fund Provision for Group XYZ Total Exceedance of Unrelated Party Fund Provision – Group
III. Exceedance of Fund Provision for Mitigation of Potential and/or Liquidity Problems
A. Related Party
Total Fund Placement for Mitigation of Potential and/or Liquidity Problems to Related Party B. Unrelated Party Total Fund Placement for Mitigation of Potential and/or Liquidity Problems to Unrelated Party

Total Fund Placement for Mitigation of Potential and/or Liquidity Problems to Related Party and Unrelated Party Total Exceedance of Fund Placement for Mitigation of Potential and/or Liquidity Problems

8 9 10 11 12
No.
Excluded Part of Fund Provision
Fund Provision – Excluded Part of
Fund Provision
Quality Status
Guaranteed by Government
BMPK
Indonesian Government/SOEs/Local SOEs
Liquid Collateral
I. Exceedance of Related Party Fund Provision
A. Credit
B. Fund Placement on Other BPRs and/or BPRSs
Total Related Party Fund
Provision
Total Exceedance of Fund Provision for Related Party Fund Provision
II. Exceedance of Unrelated Party Fund Provision
A. Credit
Individual X
Total Fund Provision for
Individual X
Total Exceedance of Fund Provision for Individual X Individual Y Total Fund Provision for Individual Y

Total Exceedance of Fund Provision for Individual Y Total Exceedance of Unrelated Party Fund Provision – Credit B. Interbank Fund Placement BPR A Total Fund Provision for BPR A Total Exceedance of Fund Provision for BPR A BPR B Total Fund Provision for BPR B Total Exceedance of Fund Provision for BPR B Total Exceedance of Fund Provision for Related Party – Interbank Fund Placement
C. Borrower Group
Group ABC
Total Fund Provision for
Group ABC
Total Exceedance of Fund Provision for Group ABC Group XYZ Total Exceedance of Fund Provision for Group XYZ

Total Exceedance of Fund Provision for Group XYZ Total Exceedance of Unrelated Party Fund Provision – Group
III. Exceedance of Fund Provision for Mitigation of Potential and/or Liquidity Problems
A. Related Party
Total Fund Placement for
Mitigation of Potential and/or Liquidity
Problems to Related Party
B. Unrelated Party
Total Fund Placement for
Mitigation of Potential and/or Liquidity
Problems to Unrelated
Party
Total Fund Placement for
Mitigation of Potential and/or Liquidity
Problems to Related Party and Unrelated Party
Total Exceedance of Fund Placement for Mitigation of Potential and/or Liquidity Problems

D. RECAPITULATION OF REPORT ON FUND PROVISION FOR MITIGATION OF POTENTIAL AND/OR LIQUIDITY PROBLEMS Name of BPR :
KPMM
BMPK
Related
Party
Unrelated
Party
Related Party Group/for
Mitigation of Potential and/or
Liquidity Problems
Address : Report Month
Report Month : Previous Report Month
Print Date :
1 2 3 4 5 6 7
No.
Bank Code Relationship of
Connection with BPR
Start
Date
Maturity
Date
Quality Amount Status BMPK
A. Related Party
Total Fund Placement to Related
Party
B. Unrelated Party
Total Fund Placement to Unrelated
Party
Total Fund Placement to Related
Party and Unrelated Party for
Mitigation of Potential and/or
Liquidity Problems

E. EXPLANATION OF BMPK REPORTING OUTPUT

  1. No. Borrower/Bank Identity
    a. This column contains the identity number of the Borrower, namely the population identity number (NIK) if the Borrower is an individual, or the Taxpayer Identification Number (NPWP) if the Borrower is a legal entity. b. If the Borrower is a Bank, it contains the Bank Code. Bank Code is the code for BPR, BPRS, general bank including Sharia business units or Sharia branches of general banks, or Sharia general banks in Indonesia that conduct transactions with BPR. Bank codes as found in the Financial Services Authority Reporting System.
  2. Relationship of Connection with BPR
    This column contains information on the relationship of connection with the BPR, among others: controllers, Board of Directors, Board of Commissioners, executive officials or other Related Parties who are included individuals, companies or entities that have ownership relationships, management relationships, and/or financial relationships with the BPR in accordance with POJK on BMPK BPR BMPD BPRS.
  3. Account Number
    This column contains the borrower's account number in accordance with the Financial Services Authority Circular Letter regarding monthly BPR reports.
  4. Start Date
    This column contains the start date in accordance with the Financial Services Authority Circular Letter regarding monthly BPR reports.
  5. Maturity Date
    This column contains the maturity date in accordance with the Financial Services Authority Circular Letter regarding monthly BPR reports.
  6. Account Status
    This column contains the account status with the following explanation:
    a. Fill in code 1 if the Credit is a withdrawal facility Credit. b. Fill in code 2 if the Credit is a new disbursement Credit (start date = report period date).
    c. Fill in code 3 if it does not meet the conditions of code 1 and code 2.
  7. Fund Provision – Plafond
    This column contains the maximum amount of Credit based on the Credit agreement if the account status is a new disbursement Credit (filled in full Rupiah).
  8. Fund Provision – Debit Balance/Amount
    a. If Fund Provision is Credit, this column contains the debit balance amount of the Credit provided based on the agreement at the report month position if the account status is Credit (filled in full Rupiah). b. If Fund Provision is fund placement on other BPRs and/or BPRSs, this column contains the amount of each type of placement at the report date position (filled in full Rupiah).
  9. Excluded Part of Fund Provision – Guaranteed by
    Indonesian Government/SOEs/Local SOEs
    This column contains the part of Credit guaranteed by a guarantor group that is the Central Government, Local Government, SOEs conducting Credit guarantee business, or Local SOEs conducting Credit guarantee business by meeting requirements in accordance with POJK on BMPK BPR BMPD BPRS (filled in full Rupiah).
  10. Excluded Part of Fund Provision – Liquid Collateral
    This column contains the value of liquid collateral pledged by the debtor to the BPR for Credit facilities in accordance with POJK on BMPK BPR BMPD BPRS (filled in full Rupiah).
  11. Fund Provision – Excluded Part of Fund Provision
    This column contains Fund Provision – debit balance minus the Excluded Part of Fund Provision. If the Excluded Part of Fund Provision is larger than Fund Provision, this column is filled with zero (filled in full Rupiah).

signed
Mufli Asmawidjaja
12. Quality
This column contains the quality of productive assets in accordance with Financial Services Authority Regulation regarding productive asset quality and the formation of provisions for productive asset write-offs for BPRs.
13. BMPK Status
This column contains the BMPK Credit and Interbank Fund Placement status codes in accordance with the Financial Services Authority Circular Letter regarding monthly BPR reports. Established in Jakarta on 15 August 2023 EXECUTIVE HEAD OF BANKING SUPERVISOR FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA, signed DIAN EDIANA RAE

APPENDIX IV
CIRCULAR LETTER OF THE FINANCIAL SERVICES AUTHORITY REPUBLIC OF INDONESIA NUMBER 11/SEOJK.03/2023 CONCERNING AND MAXIMUM LIMIT FOR FUND DISBURSEMENT OF SHARIA RURAL BANKS

A. RECAPITULATION OF FUND DISBURSEMENT REPORT TO RELATED PARTIES Capital Position KPMM BMPD Name of BPRS :
Related
Party
Unrelated
Party
Related Party Group/for
Mitigation of Potential and/or Liquidity Problems Address : Report Month Report Month : Previous Report Month Print Date :
No.
1 2 3 4 5 6
No. Beneficiary Recipient Identity
Facility/Bank
Relationship of Connection with
BPRS
Account
Number
Type of Facility
Start Date of Fund Disbursement/Debit
Balance/Amount
A. Financing
B. Fund Placement on Other BPRSs
Total Fund Disbursement to Related Parties

No.
7 8 9 10 11
Excluded Part of Fund Disbursement
Fund Disbursement – Excluded Part of
Fund Disbursement Quality Status
BMPD
Guaranteed by Government
Indonesian Government/SOEs/Local SOEs Liquid Collateral A. Financing B. Fund Placement on Other BPRSs Total Fund Disbursement to Related Parties

B. RECAPITULATION OF BMPD VIOLATION REPORT
Name of BPRS :
KPMM
BMPD
Related
Party
Unrelated
Party
Related Party Group/ for
Mitigation of Potential and/or Liquidity Problems Address : Report Month Report Month : Previous Report Month Print Date :
No.
1 2 3 4 5 6
No. Beneficiary Recipient Identity
Facility/Bank
Relationship of Connection with BPRS
Account
Number
Type of Facility
Start Date Fund Disbursement/Debit
Balance
I. Violation of Fund Disbursement to Related Parties
A. Financing
B. Fund Placement on Other BPRSs
Total Fund Disbursement to Related Parties
Total Violation of Fund Disbursement to Related Parties
II. Violation of Fund Disbursement to Unrelated Parties
A. Financing

Individual X
Total Fund Disbursement for Individual X
Total Violation of Fund Disbursement for Individual X Individual Y Total Fund Disbursement for Individual Y Total Violation of Fund Disbursement for Individual Y Total Violation of Fund Disbursement to Unrelated Parties – Financing B. Interbank Fund Placement BPRS A Financing Placement on BPRS A Total Fund Disbursement for BPRS A Total Violation of Fund Disbursement for BPRS A BPRS B Financing Placement on BPRS B Total Fund Disbursement for BPRS B Total Violation of Fund Disbursement for BPRS B Total Violation of Fund Disbursement to Unrelated Parties – Interbank Fund Placement

C. Beneficiary Recipient Group
Group ABC
Total Fund Disbursement for Group ABC
Total Violation of Fund Disbursement for Group ABC Group XYZ Total Fund Disbursement for Group XYZ Total Violation of Fund Disbursement for Group XYZ Total Violation of Fund Disbursement to Unrelated Parties – Group
III. Violation of Fund Disbursement for Mitigation of Potential and/or Liquidity Problems
A. Related Party
Total Fund Placement for Mitigation of Potential and/or Liquidity Problems to Related Parties B. Unrelated Party Total Fund Placement for Mitigation of Potential and/or Liquidity Problems to Unrelated Parties Total Fund Placement for Mitigation of Potential and/or Liquidity Problems to Related Parties and Unrelated Parties Total Violation of Fund Placement for Mitigation of Potential and/or Liquidity Problems

No.
7 8 9 10 11
Excluded Part of Fund Disbursement
Fund Disbursement – Excluded Part of
Fund Disbursement
Guaranteed by Government Quality Status BMPD
Indonesian Government/SOEs/Local SOEs Liquid Collateral
I. Violation of Fund Disbursement to Related Parties
A. Financing
B. Fund Placement on Other BPRSs
Total Fund Disbursement to Related Parties
Total Violation of Fund Disbursement to Related Parties
II. Violation of Fund Disbursement to Unrelated Parties
A. Financing
Individual X
Total Fund Disbursement for Individual X
Total Violation of Fund Disbursement for Individual X Individual Y Total Fund Disbursement for Individual Y Total Violation of Fund Disbursement for Individual Y Total Violation of Fund Disbursement to Unrelated Parties – Financing B. Interbank Fund Placement BPRS A Financing Placement on BPRS A

Total Fund Disbursement for BPRS A
Total Violation of Fund Disbursement for BPRS A BPRS B Financing Placement on BPRS B Total Fund Disbursement for BPRS B Total Violation of Fund Disbursement for BPRS B Total Violation of Fund Disbursement to Unrelated Parties – Interbank Fund Placement
C. Beneficiary Recipient Group
Group ABC
Total Fund Disbursement for Group ABC
Total Violation of Fund Disbursement for Group ABC Group XYZ Total Fund Disbursement for Group XYZ Total Violation of Fund Disbursement for Group XYZ Total Violation of Fund Disbursement to Unrelated Parties – Group
III. Violation of Fund Disbursement for Mitigation of Potential and/or Liquidity Problems
A. Related Party

Total Fund Placement for Mitigation of
Potential and/or Liquidity Problems to Related Parties B. Unrelated Parties Total Fund Placement for Mitigation of Potential and/or Liquidity Problems to Unrelated Parties Total Fund Placement for Mitigation of Potential and/or Liquidity Problems to Related Parties and Unrelated Parties Total Violation of Fund Placement for Mitigation of Potential and/or Liquidity Problems

C. RECAPITULATION OF BMPD EXCEEDANCE REPORT
Name of BPRS :
KPMM
BMPD
Related
Party
Unrelated
Party
Related Party Group/ for
Mitigation of Potential and/or Liquidity Problems Address : Report Month Report Month : Previous Report Month Print Date :
No.
1 2 3 4 5 6
No. Beneficiary Recipient Identity
Facility/Bank
Relationship of Connection with BPRS
Account
Number
Type of Facility
Start Date Fund Disbursement/Debit
Balance/Amount
I. Exceedance of Fund Disbursement to Related Parties
A. Financing
B. Fund Placement on Other BPRSs
Total Fund Disbursement to Related Parties
Total Exceedance of Fund Disbursement to Related Parties
II. Exceedance of Fund Disbursement to Unrelated Parties
A. Financing
Individual X

Total Fund Disbursement for Individual X
Total Exceedance of Fund Disbursement for Individual X Individual Y Total Fund Disbursement for Individual Y Total Exceedance of Fund Disbursement for Individual Y Total Exceedance of Fund Disbursement to Unrelated Parties – Financing B. Interbank Fund Placement BPRS A Financing Placement on BPRS A Total Fund Disbursement for BPRS A Total Exceedance of Fund Disbursement for BPRS A BPRS B Financing Placement on BPRS B Total Fund Disbursement for BPRS B Total Exceedance of Fund Disbursement for BPRS B Total Exceedance of Fund Disbursement to Unrelated Parties – Interbank Fund Placement
C. Beneficiary Recipient Group

Group ABC
Total Fund Disbursement for Group ABC
Total Exceedance of Fund Disbursement for Group ABC Group XYZ Total Fund Disbursement for Group XYZ Total Exceedance of Fund Disbursement for Group XYZ Total Exceedance of Fund Disbursement to Unrelated Parties – Group
III. Exceedance of Fund Disbursement for Mitigation of Potential and/or Liquidity Problems
A. Related Party
Total Fund Placement for Mitigation of Potential and/or Liquidity Problems to Related Parties B. Unrelated Party Total Fund Placement for Mitigation of Potential and/or Liquidity Problems to Unrelated Parties Total Fund Placement for Mitigation of Potential and/or Liquidity Problems to Related Parties and Unrelated Parties Total Exceedance of Fund Placement for Mitigation of Potential and/or Liquidity Problems

No.
7 8 9 10 11
Excluded Part of Fund Disbursement
Fund Disbursement – Excluded Part of
Fund Disbursement
Guaranteed by Government Quality Status BMPD
Indonesian Government/SOEs/Local SOEs Liquid Collateral
I. Exceedance of Fund Disbursement to Related Parties
A. Financing
B. Fund Placement on Other BPRSs
Total Fund Disbursement to Related Parties
Total Exceedance of Fund Disbursement to Related Parties
II. Exceedance of Fund Disbursement to Unrelated Parties
A. Financing
Individual X
Total Fund Disbursement for Individual X
Total Exceedance of Fund Disbursement for Individual X Individual Y Total Fund Disbursement for Individual Y Total Exceedance of Fund Disbursement for Individual Y Total Exceedance of Fund Disbursement to Unrelated Parties – Financing B. Interbank Fund Placement BPRS A

Total Fund Disbursement for BPRS A
Total Exceedance of Fund Disbursement for BPRS A BPRS B Total Fund Disbursement for BPRS B Total Exceedance of Fund Disbursement for BPRS B Total Exceedance of Fund Disbursement to Unrelated Parties – Interbank Fund Placement
C. Beneficiary Recipient Group
Group ABC
Total Fund Disbursement for Group ABC
Total Exceedance of Fund Disbursement for Group ABC Group XYZ Total Fund Disbursement for Group XYZ Total Exceedance of Fund Disbursement for Group XYZ Total Exceedance of Fund Disbursement to Unrelated Parties – Group
III. Exceedance of Fund Disbursement for Mitigation of Potential and/or Liquidity Problems
A. Related Party
Total Fund Placement for Mitigation of
Potential and/or Liquidity Problems to Related Parties B. Unrelated Parties

Total Fund Placement for Mitigation of
Potential and/or Liquidity Problems to Unrelated Parties

Total Fund Placement for Addressing Potential and/or Liquidity Issues to Unrelated Parties Total Fund Placement for Addressing Potential and/or Liquidity Issues to Related and Unrelated Parties Total Excess of Fund Placement for Addressing Potential and/or Liquidity Issues

D. RECAPITULATION OF REPORT ON FUND DISBURSEMENT FOR ADDRESSING POTENTIAL AND/OR LIQUIDITY ISSUES Name of BPRS :
KPMM
BMPD
Related Parties
Unrelated Parties
Related Parties Group / for Addressing Potential and/or Liquidity Issues Address : Report Month Report Month :
Previous Report Month
Print Date :
No.
1 2 3 4 5 6 7
Bank Code Relationship with BPRS
Start Date
Maturity Date
Quality Amount BMPD Status
A. Related Parties
Total Fund Placement to Related Parties
B. Unrelated Parties
Total Fund Placement to Unrelated Parties
Total Fund Placement to Related and Unrelated Parties for Addressing Potential and/or Liquidity Issues

E. EXPLANATION OF BMPD REPORTING OUTPUT

  1. No. Recipient Customer/Recipient Bank Facility Identity
    a. This column contains the identity number of the Recipient Customer of the Facility, which is the National Identity Number (NIK) if the Recipient Customer of the Facility is an individual, or the Taxpayer Identification Number (NPWP) if the Recipient Customer of the Facility is a legal entity. b. If the Recipient Customer of the Facility is a Bank, this column contains the Bank Code. Bank Code refers to the BPRS code, conventional bank code including Sharia business units or Sharia branches of conventional banks, or Sharia commercial banks in Indonesia that conduct transactions with BPRS. Bank codes refer to those found in the Financial Services Authority Reporting System.
  2. Relationship with BPRS
    This column contains information on the relationship with BPRS, including: controllers, Board of Directors, Board of Commissioners, executive officials, or other Related Parties who are individuals, companies, or entities having ownership, management, and/or financial relationships with BPRS in accordance with POJK BMPK BPR BMPD BPRS.
  3. Account Number
    This column contains the account number for each facility provided to customers in accordance with the Financial Services Authority Circular Letter regarding monthly BPRS reports.
  4. Type of Facility
    This column contains the name of the contract or type of placement in accordance with the type of Fund Disbursement conducted by BPRS in accordance with the Financial Services Authority Circular Letter regarding monthly BPRS reports.
  5. Start Date
    This column contains the start date in accordance with the Financial Services Authority Circular Letter regarding monthly BPRS reports.
  6. Maturity Date
    This column contains the maturity date in accordance with the Financial Services Authority Circular Letter regarding monthly BPRS reports.
  7. Fund Disbursement / Debit Balance / Amount
    a. If Fund Disbursement is Financing, this column contains the debit balance amount in accordance with the type of facility provided by BPRS to the Recipient Customer of the Facility as per Appendix II Roman numeral I number 2 (filled in full Rupiah). b. If Fund Disbursement is fund placement in other BPRS, this column contains the amount of each type of placement at the report date position (filled in full Rupiah).
  8. Excluded Portion of Fund Disbursement – Guaranteed by Indonesian Government/SOE/Local Government-Owned Enterprise
    This column contains the portion of Financing guaranteed by guarantor groups that are the Central Government, Local Government, State-Owned Enterprises (SOE) conducting Financing guarantee business, or Local Government-Owned Enterprises (BUMD) conducting Financing guarantee business, meeting requirements in accordance with POJK BMPK BPR BMPD BPRS (filled in full Rupiah).
  9. Excluded Portioned of Fund Disbursement – Liquid Collateral
    This column contains the value of liquid collateral pledged by the Recipient Customer of the Facility to the BPRS for BPRS Financing facilities in accordance with POJK BMPK BPR BMPD BPRS (filled in full Rupiah).
  10. Fund Disbursement – Excluded Portion of Fund Disbursement
    This column contains the amount of Fund Disbursement minus the amount of Excluded Fund Disbursement. If the amount of Excluded Fund Disbursement is greater than the amount of Fund Disbursement, this column is filled with zero (filled in full Rupiah).
  11. Quality
    This column contains the quality of productive assets in accordance with Financial Services Authority Regulation regarding productive asset quality and the formation of provisions for the write-off of productive assets of BPRS.

Signed
Mufli Asmawidjaja

  1. BMPD Status
    This column contains the BMPD Status code for Financing and Interbank Fund Placement in accordance with the Financial Services Authority Circular Letter regarding monthly BPRS reports.

Determined in Jakarta on August 15, 2023
EXECUTIVE HEAD OF BANKING SUPERVISOR
FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA,
Signed
DIAN EDIANA RAE

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Lineage: In force

Circular Letter of the Financia…2017Circular Letter of the Financial Services Authority Number 41/SEOJK.03/2017 Concerning Maximum Limit on Credit Provision by Rural Banks (2017-07-19)Monthly Report of Rural Banks2022Monthly Report of Rural Banks (2022-07-19)Maximum Limit for Credit Provis…2022Maximum Limit for Credit Provision by Rural Credit Banks and Maximum Limit for Fund Disbursement by Sharia Rural Financing Banks (2022-11-23)Maximum Limit for CreditGranting by Rural Banks and M…2023-08-15 · this documentMaximum Limit for Credit Granting by Rural Banks and Maximum Limit for Fund Disbursement by Sharia Rural Banks (2023-08-15)Reporting via OJK Reporting Sys…2024Reporting via OJK Reporting System and Financial Condition Transparency for Sharia Economic People's Banks (2024-11-29)Reporting Through the OJK Repor…Reporting Through the OJK Reporting System and Financial Condition Transparency for Rural Banks
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Timeline

This document amends: Maximum Limit for Credit Provision by Rural Credit Banks and Maximum Limit for Fund Disbursement by Sharia Rural Financing Banks

This document supersedes: Circular Letter of the Financial Services Authority Number 41/SEOJK.03/2017 Concerning Maximum Limit on Credit Provision by Rural Banks

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Source: Otoritas Jasa Keuangan (Financial Services Authority) — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works

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