Taxation, Banking & Fintech
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Otoritas Jasa Keuangan (OJK) Regulatory Circular
Financial Services Authority (OJK) Releases Expanded Framework for Fintech Lending and Digital Equity Financing
Otoritas Jasa Keuangan (OJK) Terbitkan Kerangka Kerja Baru Fintech Lending & Securities Crowdfunding
Executive Legal Takeaway
OJK sets updated capital adequacy requirements, maximum interest caps, and mandatory credit scoring integration for peer-to-peer (P2P) lenders and securities crowdfunding platforms.
OJK has rolled out its roadmap for institutional strengthening of Indonesian digital finance. The new framework enforces rigorous risk management:
Key Points:
1. **Interest Rate & Fee Caps:** Lending platforms must cap combined daily economic benefits (interest, fees, and penalties) to prevent predatory practices and foster sustainable market borrowing.
2. **Equity Crowdfunding (SCF):** Small and medium enterprises (UMKM) can raise up to IDR 10 Billion in equity or debt securities without a full public IPO on the Indonesia Stock Exchange (IDX).
3. **Escrow and Virtual Account Separation:** All user funds must remain segregated in tier-1 commercial banking escrows, mitigating commingling risks and protecting liquidity.
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