Wednesday, 20 June 2018 | 05:03 WIB

FSA Chairman-Elect to Strive to Lower Lending Rates

Chairman of Board of Commissioners of FSA Wimboh Santoso

JAKARTA, NETRALNEWS.COM - One target that the newly-elected Chairman of the Board of Commissioners of Financial Services Authority (FSA) Wimboh Santoso will endeavor is lower bank lending rates. Currently, lending rate is still above 10 percent.

Wimboh claimed to have a special strategy to suppress the banking interest rate, but he guaranteed it does not distort financial markets.

"As for the bank interest, the spirit should be encouraged and we try to make it cheaper, in a good way and not distorted," said Wimboh at the Ministry of Finance, Jakarta, Monday (6/19/2017)

According to Wimboh, FSA will seek ways that do not cause distortion in financial markets.

He added that to achieve the target, FSA will coordinate and synergize with Bank Indonesia (BI) and the government.

This is done so that government goals can be achieved and the financial industry remains healthy and has good service.

"The public should get a value added of the existence of the financial sector, good service and lower cost," he said.

Wimboh added that the restricted meeting with FSA selection committee is just a matter of hospitality. "There is no chat related to work program, just normal chat as we have not yet been sworn in," he said.

Based on BI's money supply data, bank lending rate as of April 2017 reportedly stood at 11.92 percent higher than the previous month's 11.9 percent. (*)