In 2020, OJK has provided latitude through a credit restructuring program and easing of the one-pillar credit quality assessment, as in POJK 48/POJK.03/2020 concerning a change of regulation of OJK Number 11/POJK.03/2020 concerning National Economic Stimulus as Countercyclical Policy on the Impact of the Spread of Coronavirus Disease 2019, and also as in POJK Number 58/POJK.05/2020 concerning changes of regulation of OJK Number 14/POJK.05/2020 concerning Countercyclical Policy on the Impact of Spreading Coronavirus Disease 2019 for Non-Bank Financial Services Institutions. formerly, the regulation lasts until March 2021. But as the pandemic was still spreading and leniency was deemed necessary, OJK extended the policy until March 2022.

As of January 4, 2021, credit restructuring was recorded for 7.57 million bank debtors with an outstanding of Rp. 971.08 trillion. This number consists of 5.81 million UMKM debtors with an outstanding of Rp. 386.63 trillion and 1.76 million non UMKM debtors with an outstanding of Rp. 584.45 trillion. As for restructuring in the non-bank financial industry (INKB), until January 18, 2021, OJK recorded as 5 million contracts with an outstanding Rp191.14 trillion were restructured by financing companies or around 49% of the total financing. In addition, credit restructuring was also carried out on 66 debtors from Lembaga Keuangan Micro (LKM) with an outstanding of Rp. 31.06 billion and as many as 13 Badan Waqaf Mikro (BWM) also restructured their debtors with an outstanding of Rp. 4.52 billion (data as of September 2020).

In the implementation, the restructuring program is considered burdensome for the Financial Services Industry as reserves increase with the growing number of financing restructuring. Also, e incoming cash flow from customer installments is reduced. In addition, there are challenges in the credit and financing restructuring process, including:

1. Balancing debtor's needs with the bank's liquidity capacity;
2. Maintaining the quality of governance and integrity of banking actors and debtors for continuity restructuring;
3. Difficulty in the process of verifying data and updating customer conditions in a pandemic situation; and
4. Industries that are still guided by the old SOPs are time-consuming and bureaucratic.

In responding to the challenge, an inter-industry learning program is needed to ensure a successful stimulus policy for the covid-19 impact. Through this webinar, banking and finance companies are expected to gain lessons learned from banking and finance companies that can implement the stimulus policy well.

1. Provides an overview of the challenges and strategies for restructuring credit in the Pandemic Era
2. Provides knowledge of the challenges and solutions in islamic banking in dealing with the covid-19 pandemic
3. Provides knowledge of how to apply credit restructuring in the finance industry