OJK will Keep an eye on the MFI Service Cooperative Delivering Revolving Funds

INDUSTRY.co.id - Jakarta - The Ministry of Cooperatives and Small and Medium Enterprises is involved in the socialization of the revolving fund program in Sorong and Raja Ampat District, West Papua, organized by the Public Service Board of the Marine and Fishery Business Administration (LPMUKP) of the Ministry of Marine Affairs and Fisheries.

The socialization of the revolving fund program is intended to explain that the loans provided through BLU LPMUKP in the form of loans are not grants to fishery groups that have incorporated cooperative law.

It is hoped that with this socialization, the beneficiaries can be given the right target and managed with full responsibility, so that the funds received can be returned and rolled back to the group or Cooperative Legal Entity.

Sectors that get loans in fishing / fishing, fishing, fish farming, processing, marketing of fishery products, salt business, coastal tourism, marine tourism, culinary tourism, fish special and homestay. Direct loan from either individual / micro business or Legal Entity Cooperative / Cooperative Service of Micro Finance Institution (LKM).

However, the Director of BLU LPMUKP Syarief Syahrial said the requirement to establish an MFI Service Cooperative should have a capital of Rp 50 million for urban village level, and sub-district level of Rp 100 million, and district level of Rp 500 million.

The legalization process of Legal Entity of MFI under Law No. 25 of 1992 concerning Cooperation, Law Number 1 Year 2013 concerning Micro Finance Institution, Law Number 23 Year 2014 on Regional Government and Ministerial Regulation 10 Year 2015 on Institutional Cooperation.

After obtaining the LKM Cooperative Legal Entity, the cooperative must take care of the MFI's business license from OJK. The management of government funded loans to the community or the LKM Cooperative Legal Entity will be monitored and reported by OJK.

In every province, there are already OJK representatives and if from the districts / cities will establish an MFI Service Cooperative can come directly to the OJK office at the provincial level. Furthermore, supervision and supervision conducted by OJK.

Understanding the Governance of LPMUKP's business capital loan is expected to be able to build the fishermen's economy in Indonesia, encouraging and accelerating development, especially in coastal areas in Indonesia through groups of fishermen to form a Cooperative Legal Entity.

"So fishermen can manage, produce and market the fish catch through cooperatives to develop their business, the fishermen can take advantage of revolving fund loan from LPMUKP and return on time," Syarief said in a press release on Wednesday (18/10/2017).

Assistant Deputy of Counseling on Deputy for Institutional Affairs, Kemenkop and UKM Retno Endang Prihantini affirmed that the MFI Services Cooperative serves members and communities, and is established in order to assist micro and small enterprises to expand their business.

"Every society that will establish a cooperative should understand the Cooperative Law Agency as a business entity, the type of cooperative that will be made, the values ​​and principles of cooperatives, cooperative capital derived from its own capital and loan capital and capital participation," said Retno.

The socialization of approximately is 100 participants from Sorong and Raja Ampat regency. Each of these activities was attended by recipients of recipients of revolving funds and fishermen / fishermen and cooperatives. Participants are very enthusiastic in following the socialization event that has been held since October 12-14, 2017.