The OJK should continue to monitor the implementation of POJK and provide guidance to banks on the implementation of credit restructuring

Oct 13, 2025 by wbrum.org 30 views

The Juridical Review of the Implementation of Credit Restructuring Based on POJK Stimulus Impact of Covid-19 in Terms of Legal Risks: Studies at PT. North Sumatra Bank

Introduction

The COVID-19 pandemic has had a significant impact on the global economy, including Indonesia. The Financial Services Authority (OJK) responded to this crisis by issuing OJK Regulations (POJK) related to the COVID-19 impact stimulus. This policy aimed to provide stimulus in the form of assessing asset quality and credit restructuring for affected debtors. One of the banks that implemented this policy was PT. Bank of North Sumatra, which is the focus of this study. In this article, we will discuss the juridical review of the implementation of credit restructuring based on POJK stimulus impact of Covid-19 in terms of legal risks.

The Role of the State in Providing Assistance to the Debtor

The state plays an important role in creating policies that support the economic recovery of society, including in the context of credit restructuring. Through POJK stimulus, the state provides an opportunity for debtors who have difficulty getting credit payment relief. This policy not only eases the burden of the debtor, but also seeks to maintain economic stability by avoiding the surge of bad loans. The state's role in providing assistance to the debtor is crucial in this context, as it helps to mitigate the negative impact of the pandemic on the economy.

POJK's Position in Civil Relations between Banks and Debtors

The POJK issued by the OJK functions as a binding legal product in the credit restructuring agreement. Although POJK is included in the category of public law, which regulates the relationship between government agencies and the community, it also has implications in civil law between banks and debtors. This shows that POJK not only functions as a guide, but also creates legal protection for debtors affected by Pandemi. The POJK's position in civil relations between banks and debtors is a critical aspect of credit restructuring, as it helps to ensure that the rights of both parties are protected.

Implementation and Constraints of Credit Restructuring

In practice, credit restructuring at PT. North Sumatra Bank is based on the bank's internal provisions and refers to POJK guidelines. Although this step has a positive impact on the financial performance of the bank-evidenced by a decrease in non-performance loans (NPL) from 4.85% in March 2020 to 2.90% in June 2022-there was still a challenge in its implementation. Banks must be able to anticipate legal risks that may arise, such as the potential dispute between the bank and the debtor related to the agreed restructuring provisions. The implementation of credit restructuring is a complex process that requires careful consideration of various factors, including legal risks.

The Impact of POJK on Credit Restructuring

The POJK has had a significant impact on credit restructuring in Indonesia. The policy has provided a framework for banks to restructure loans and has helped to mitigate the negative impact of the pandemic on the economy. However, the implementation of POJK has also raised several challenges, including the potential for disputes between banks and debtors. The POJK's impact on credit restructuring is a critical aspect of this policy, as it helps to ensure that the rights of both parties are protected.

The Role of PT. North Sumatra Bank in Credit Restructuring

PT. North Sumatra Bank has played a significant role in credit restructuring in Indonesia. The bank has implemented POJK guidelines and has restructured loans for affected debtors. The bank's efforts have helped to mitigate the negative impact of the pandemic on the economy and have contributed to the stability of the financial sector. The role of PT. North Sumatra Bank in credit restructuring is a critical aspect of this policy, as it helps to ensure that the rights of both parties are protected.

Conclusion

The results of the study show that the state through the OJK has carried out its role in providing various policies to help the debtor affected by COVID-19. POJK as a legal product has a binding power in the restructuring agreement, although there are legal challenges that need to be considered. By complying with existing policies and carefully managing risk, PT. North Sumatra Bank can play a role in economic recovery while maintaining the financial health of the bank itself. Through this study, it is hoped that there will be a deeper understanding of the importance of credit restructuring policies and their impact on legal relations between banks and debtors, which in turn can contribute to the stability of the financial sector in the future.

Recommendations

Based on the findings of this study, several recommendations can be made:

The OJK should continue to monitor the implementation of POJK and provide guidance to banks on the implementation of credit restructuring.
Banks should carefully consider the legal risks associated with credit restructuring and take steps to mitigate these risks.
Debtors should be aware of their rights and obligations under POJK and seek guidance from the OJK or other relevant authorities if necessary.
The government should continue to provide support to the financial sector through policies such as POJK, which have helped to mitigate the negative impact of the pandemic on the economy.

By following these recommendations, it is hoped that the financial sector in Indonesia will continue to recover and that the impact of the pandemic on the economy will be minimized.
Frequently Asked Questions (FAQs) on the Juridical Review of the Implementation of Credit Restructuring Based on POJK Stimulus Impact of Covid-19 in Terms of Legal Risks: Studies at PT. North Sumatra Bank

Q: What is the purpose of POJK in the context of credit restructuring?

A: The purpose of POJK is to provide a framework for banks to restructure loans and to help mitigate the negative impact of the pandemic on the economy. POJK aims to provide credit payment relief to debtors who have difficulty making payments due to the pandemic.

Q: How does POJK impact credit restructuring in Indonesia?

A: POJK has had a significant impact on credit restructuring in Indonesia. The policy has provided a framework for banks to restructure loans and has helped to mitigate the negative impact of the pandemic on the economy. However, the implementation of POJK has also raised several challenges, including the potential for disputes between banks and debtors.

Q: What are the key challenges in implementing credit restructuring based on POJK?

A: The key challenges in implementing credit restructuring based on POJK include the potential for disputes between banks and debtors, the need to carefully consider legal risks, and the need to ensure that the rights of both parties are protected.

Q: How does PT. North Sumatra Bank implement credit restructuring based on POJK?

A: PT. North Sumatra Bank implements credit restructuring based on POJK by following the bank's internal provisions and referring to POJK guidelines. The bank has restructured loans for affected debtors and has helped to mitigate the negative impact of the pandemic on the economy.

Q: What are the benefits of credit restructuring based on POJK?

A: The benefits of credit restructuring based on POJK include the provision of credit payment relief to debtors, the mitigation of the negative impact of the pandemic on the economy, and the promotion of economic stability.

Q: What are the potential risks of credit restructuring based on POJK?

A: The potential risks of credit restructuring based on POJK include the potential for disputes between banks and debtors, the need to carefully consider legal risks, and the need to ensure that the rights of both parties are protected.

Q: How can debtors benefit from credit restructuring based on POJK?

A: Debtors can benefit from credit restructuring based on POJK by receiving credit payment relief and having their loans restructured to make payments more manageable.

Q: How can banks benefit from credit restructuring based on POJK?

A: Banks can benefit from credit restructuring based on POJK by reducing the risk of non-performing loans, promoting economic stability, and maintaining the financial health of the bank.

Q: What is the role of the OJK in credit restructuring based on POJK?

A: The OJK plays a critical role in credit restructuring based on POJK by providing guidance to banks on the implementation of credit restructuring, monitoring the implementation of POJK, and ensuring that the rights of both parties are protected.

Q: What is the future of credit restructuring based on POJK?

A: The future of credit restructuring based on POJK is promising, as the policy has helped to mitigate the negative impact of the pandemic on the economy and has promoted economic stability. However, the implementation of POJK will continue to face challenges, including the potential for disputes between banks and debtors.