Indonesia's OJK Excludes Small Loans from Credit Reports to Boost Housing Program

The Financial Services Authority (OJK) is implementing a significant policy change to bolster the government's ambitious program of providing three million new homes. This initiative aims to streamline the process for citizens seeking access to credit, particularly for subsidized housing. A key decision made by the OJK is to exclude credit or financing information below Rp 1 million from the System Layanan Informasi Keuangan (SLIK) reports. This move is expected to significantly ease the burden on individuals applying for housing loans, removing a potential hurdle for many aspiring homeowners.

This policy adjustment is a direct response to the government's priority of ensuring housing availability, championed by the Minister of Public Works and Housing. The OJK's decision, made during a recent Board of Commissioners Meeting, also includes accelerating the update of loan repayment statuses within SLIK. From now on, a completed loan repayment will be reflected in the system within a maximum of three working days, a process that will be fully implemented by the end of June 2026. This expedited update is crucial for developers and financial institutions, enabling faster processing of housing financing applications.

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In the Board of Commissioners Meeting yesterday, we decided that the information displayed in SLIK reports will be credits with a nominal value above Rp 1 million, whether based on the accumulation of the debtor's credit records or their outstanding balance.

Furthermore, the OJK is enhancing collaboration with relevant bodies, including the Public Housing Savings Management Agency (BP Tapera), by granting access to SLIK data under existing regulations. This integration is vital for expediting the provision of housing financing facilities. The OJK, in conjunction with the Ministry of Public Works and Housing, will also establish a Task Force for the Acceleration of the 3 Million Homes Program. This task force will comprise various stakeholders, including developers' associations, to strengthen coordination and swiftly address any challenges hindering the program's progress, particularly those related to the financial services sector.

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When someone has paid off their loan, within a maximum of three days, the repayment status will appear in SLIK, which will be implemented no later than the end of June 2026. This is important to help our developer colleagues speed up the housing financing process.