The Financial Services Authority (OJK) officially launched the Roadmap for the Development and Strengthening of Microfinance Institutions 2024-2028 on November 25, 2024.

The Association of Microfinance Institutions (LKM) and Islamic Microfinance Institutions (LKMS) of Indonesia (Aslindo) stated that it will support the strengthening of the LKM industry, especially in the field of human resources (HR), through a number of efforts.

Aslindo General Chair Burhan explained that his party would strengthen human resources through training. In addition, he said that Aslindo would also prepare competency certification for LKM directors or administrators.

"We have also prepared certification for all levels. Plus collaborating with third parties related to educational training to improve the quality of human resources," said Burhan while attending the launch of the Roadmap for the Development and Strengthening of Microfinance Institutions 2024-2028 at the Westin Hotel, Monday (25/11).

Furthermore, Burhan revealed that the strategies and points contained in the LKM Development and Strengthening roadmap are in line with the association's vision. One of them is to realize a professional, dynamic, and aspirational microfinance institution.

Therefore, he said that Aslindo will continue to be active together with OJK and related stakeholders to implement all work programs in the roadmap.

"In addition, we will continue to monitor and evaluate related to the implementation of the work programs that have been prepared in the roadmap," said Burhan.

For information, OJK explained that the implementation of the LKM roadmap was carried out through three main phases in the period 2024 to 2028. Starting from the foundation strengthening and consolidation phase (2024-2025), the momentum creation phase (2026-2027), to the growth and adjustment phase (2028).

Based on data as of August 2024, OJK said that there were 253 LKMs throughout Indonesia. In detail, 174 LKMs are conventional, and 79 LKMs are sharia. The LKM industry assets showed a growth of 9.73% Year on Year (YoY) to IDR 1.64 trillion. Meanwhile, financing distribution reached IDR 1.03 trillion as of August 2024.