Indonesia’s Financial Services Authority (OJK) is requiring financial institutions to update a debtor’s credit status in the Financial Information Services System (SLIK) within three working days after a loan has been fully repaid.

The mandate took effect on 1 July 2026, according to Finansial Bisnis.

The regulator aims to improve the accuracy of credit data for credit assessments and expand financing access.

This policy targets MSMEs and the Indonesian government’s 3 Million Homes housing initiative.

New threshold for credit reporting

In addition to faster update timelines, OJK is introducing a minimum reporting threshold.

The policy limits mandatory reporting to financing facilities exceeding Rp 1 million, a move designed to make the dataset more relevant for credit evaluation.

The regulator expects more current debtor data to accelerate loan disbursements, including subsidised mortgages.

Better data quality should also open up financing access for low-income earners and SMEs that have historically faced barriers to formal financial services.

OJK clarified that a SLIK record is not the sole factor determining credit approval. Lenders retain the final decision based on their internal assessments of business feasibility, repayment capacity, and risk management.

“The policy is expected to encourage the expansion of credit access for eligible communities, including low-income groups and SMEs that have historically faced barriers to formal financial services,”

said Friderica Widyasari Dewi, Chief Executive of Market Conduct, Education, and Consumer Protection, OJK.

SLIK usage and market growth

SLIK functions as the key credit reporting infrastructure for Indonesian lenders. The system averages 31 million debtor information inquiries a month, peaking at 35.3 million inquiries in April 2026.

By July 2026, 2,169 institutions were reporting into the system. These include commercial banks, financing companies, venture capital firms, and microfinance institutions.

The infrastructure upgrades align with broader growth in Indonesia’s financial sector. Bank credit grew 11.51% year-on-year to Rp 8,918 trillion as of May 2026.

Within that total, SME lending reached approximately Rp 1,500 trillion. Housing credit increased by 4.99% compared to the same period last year.

Featured image credit: Edited by Fintech News Indonesia, based on image by mrsiraphol via Magnific