New OJK Regulations Come into Effect This Year

January 01, 2024, 10.57 PM | Source: KONTAN.co.id
New OJK Regulations Come into Effect This Year

ILUSTRASI. Masyarakat melihat tawaran platform pinjaman online malalui kanal digital di Tangerang Selatan,, Rabu (15/11/2023). Otoritas Jasa Keuangan (OJK) akan membatasi masyarakat meminjam maksimal di tiga platform fintech peer to peer (P2P) lending atau pinjaman online (pinjol). Ketentuan pembatasan penggunaan platform pinjol dikeluarkan OJK agar konsumen bisa mengindari kelebihan pendanaan./pho KONTAN/Carolus Agus Waluyo/15/111/2023.


Regarding the new OJK regulations, Observer and Director of the Digital Economy Center of Economic and Law Studies (Celios), Nailul Huda, welcomed them, including interest rates or benefits from online loans because they aim to protect consumers.

According to him, consumers will get a much more competitive interest offer from online loan platforms. However, the more competitive offer must also be balanced with perfect information to the public.

"Don't let there be hidden costs that make the loan interest much larger," he said.

Nailul also said the new rules will create clear provisions for fintech P2P lending players who were once hit by cartel issues from the Business Competition Supervisory Commission (KPPU).

In addition, he hopes the OJK can also evaluate the determination of interest rates every 3 months with stakeholders, such as the Indonesian Joint Funding Fintech Association (AFPI).

Nailul explained that the interest rate reduction seems to be able to impact the interest of lenders. Therefore, he said fintech lending must be able to attract lenders from banking or other institutions.

"The hope is that productive sector funding can be obtained from both banking and non-banking institutions," he said.

Editor: Syamsul Azhar
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