JAKARTA, KOMPAS.com – The Indonesian Joint Funding Fintech Association (AFPI) revealed that there are 13 peer-to-peer lending or online loan (pinjol) fintech entities that have not lowered the upper limit on economic benefits or loan interest due to technical problems.
AFPI General Chair Entjik S. Djafar explained that the technical problem faced by fintech lending is updating the system to adapt to a new engine structure or one that follows the latest regulations.
“Organizers who have not reduced their interest rates have been given a warning to speed up the transition process,” he told Kompas.com, Wednesday (10/1/2024).
Also read: OJK Threatens to Sanction 13 Loans Who Have Not Reduced Loan Interest
He added, AFPI believes and supports that compliance with regulations is a crucial aspect in maintaining public trust, market stability and consumer protection.
On the other hand, Entjik is optimistic that the implementation of the new regulations by its members will occur in the shortest possible time.
“If there are indications of disobedience, sanctions in accordance with the provisions set by the OJK will definitely be carried out,” he added.
According to Entjik, reducing loan interest in the fintech lending industry is part of the regulations implemented by the OJK to control and maintain industry stability and protect consumers.
Meanwhile, AFPI itself has a role in supporting members’ compliance with existing regulations.
“Because overall, it is important for organizers to comply with existing regulations for business continuity and consumer protection,” he stressed.
Previously, the Chief Executive for Supervision of Financing Institutions, Venture Capital Companies, Microfinance Institutions and Other Financial Services Institutions, OJK Agusman, said that his party had found 13 fintech lending entities that had not lowered the upper limit on their loan interest in the period 1-4 January 2023.
Currently, OJK is asking for clarification from the 13 online loan providers (pinjol).
“If it is proven that a violation has occurred, we will impose administrative sanctions in accordance with applicable regulations,” he said.
Also read: Reducing loan interest will provide relief for borrowers
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2024-01-10 14:12:00
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