As viewed from the regulatory aspect, the implementation of the policy of relaxation on credit payments as a result of the pandemic of Covid-19 has already had law principle. But in reality the implementation of the policy still causes social problems in the society. This case is discovered from many complaints that came from the society regarding the implementation of the policy. This research is a normative legal research using law approach and conceptual approach. The research is analytical descriptive by using qualitative data analysis. The conclusion is the policy of relaxation on credit installment or funding payments to the people who are affected by Covid-19 is regulated in POJK No.11 / POJK.03 / 2020 which regulating the criteria for recipients of credit relaxation called the debtors who are affected and getting restructured after the debtors affected by Covid-19. The mechanism of relaxation on credit or funding installment payments to debtors affected by Covid-19 is done by submitting an application to the affiliated bank or funding institution where the debtor belongs to. The barrier faced in the implementation of the policy of relaxation on credit payments for the debtors affected by Covid-19 is the lack of public understanding of the substance of its policy. In addition, supporting regulations which form the law principle to implement the policy has not yet had legal assurance, so that in the application of these policies there are still many provisions that have multiple interpretations. As a result, the implementation of the policy raises uncertainty in law for banks and funding institutions as the executors and the society as beneficiaries of the policy of payment relaxation, especially for the debtors affected by Covid-19.
Volume 12 | Issue 6