The Snare Of Pinjol Is Getting More And More So, LaNyalla: Economic Difficulties Or Other Phenomenon?

JAKARTA - Chairman of the DPD RI AA LaNyalla Mahmud Mattalitti highlighted the increasing number of people in online loans, aka high interest loans that approach moneylenders. According to LaNyalla, this phenomenon could indicate that there are facts about acute economic difficulties in society.

In a report by the Financial Services Authority (OJK) which revealed that there were 21 online loans or fintech peer-to-peer lending which had a bad credit rate of more than 5 percent. This means that the borrower failed to pay the debt in the 90-day period.

OJK also reported that online loan arrears exceeded IDR 51.46 trillion, an increase of around 28.1 percent on an annual basis as of May 2023.

"The large number of people entangled in online loans is an alarming phenomenon. Is there really an economic difficulty in the lower class or what phenomenon? Of course this must be mitigated by the government," said LaNyalla, Monday, November 6.

Menurut LaNyalla, selain kondisi ekonomi masyarakat yang sulit, apakah juga disebabkan karak behavior masyarakat yang konsumtif? Selain kemaknya regulasi, baik dari sistem pengawasan hingga penegakan hukum.

Therefore, the Senator from East Java asked the government to take firm action regarding loans that have troubled users on the pretext of providing convenience. Because according to him, in a short time it can damage the nation's economic system.

"It's a relief but surely, the rise of online loans that fail to pay, will further ensnare with flowering flowers, and in the end people will be affected by the black list of banks, this in the long term undermines the economic power of society," he explained.

"The effect is not trivial, but very broad. Even though the community needs access to financing to banks for business capital and others. If it gets blacklisted, it will be difficult for people to get capital," he said.

LaNyalla also questioned the extent to which OJK's supervision of fintech or loan providers had a very large number of loan arrears.

"The bad credit rate is very large and of course the impact is big. We feel strange, because the loan is partially supervised by the OJK but the reality is in such condition," he said.