Indonesia's Financial Services Authority (OJK) recorded 227 microfinance institutions in Indonesia in 2020.

The Indonesian Financial Services Authority (OJK) recorded 227 microfinance institutions (MFIs) in Indonesia in 2020. This figure represents a 10.13% increase from the previous year's 204 MFIs.

Specifically, there were 147 conventional MFIs and 80 sharia MFIs.

These MFIs were spread across 22 of Indonesia's 34 provinces. Central Java had the highest number of MFIs, with 122 companies, representing 53.74% of the total.

West Java was second with 28 MFIs, followed by East Java with 23 MFIs.

The total assets of MFIs in Indonesia reached Rp 1.23 trillion in 2020, a 13.3% increase from Rp 1.07 trillion in the previous year.

Conventional MFIs held the largest share of assets, at Rp 734.67 billion (59.52%), a 22.02% increase from Rp 602.08 billion in the previous year.

Sharia MFIs held Rp 499.7 billion (40.48%) in assets, a 6.80% increase from Rp 467.9 billion in the previous year.

For information, MFIs are financial institutions specifically established to provide business development services and community empowerment. This is done through micro-business loans, savings management, and business development consulting services.