THE PROBLEMS OF IMPLEMENTATION OF FINANCIAL SERVICES AUTHORITY REGULATION NO. 11/POJK.03/2020 IN RELATION TO LEGAL AWARENESS AND LEGAL COMPLIANCE OF BANK MANDIRI MSME DEBTORS

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The spread of Corona Virus Disease 2019 has disrupted the economy so that it has an impact on increased
bank credit risk due to decreased performance and capacity of debtors in fulfilling credit or financing payment
obligations. The Financial Services Authority (FSA) issued FSA Regulation No. 11/POJK.03/2020 concerning
National Economic Stimulus as a Countercyclical Policy for the Impact of COVID-19 so that the pandemic
does not have an impact on the domestic economy, including MSMEs. The goal is to provide credit relaxation
for customers affected by Covid-19. This research aims to examine the effect of Legal Substance and Legal
Awareness on the legal compliance of MSMEs as customers of Bank Mandiri. This research used a questionnaire
as the research instrument. The questionnaire was used to measure the variables of Legal Substance, Legal
Awareness and Legal Compliance. The data analysis used is the SEM GSCA approach using the GeSCA
application. The results of the analysis showed that legal substance and legal awareness have a significant
effect on legal compliance. The legal analysis of the substance of FSA Regulation Number 11/POJK.03/2020
in Indonesia for Bank Mandiri MSME debtors is the originality of this research.
Keywords: legal awareness; legal compliance; MSME; debtor