Pinjol Cannot Be A Digital Debt Trap, Deputy Chairman Of Commission XI Asks For Strict Action On Cartel Practices
JAKARTA - Deputy Chairman of Commission XI of the Indonesian House of Representatives, Fauzi Amro, expressed his appreciation for the proactive steps taken by the Business Competition Supervisory Commission (KPPU) in cracking down on allegations of flower cartel practices in the financial technology industry, especially online loan services (pinjol).
According to Fauzi, if it is true that there is a cartel practice that harms the community, then this is a serious violation of the principles of healthy business competition.
He said that the KPPU's steps to take action indiscriminately should be appreciated, during the process it was carried out in accordance with the principles of due process of law, and supported by strong and legally valid evidence.
"We don't want there to be an oligatory practice or an unhealthy agreement that ultimately burdens the people, especially the lower middle class who become the main consumers of loan services," he told VOI, Friday, August 1.
Fauzi assessed that the loan interest policy, which is currently limited to a maximum of 0.3 percent per day by the Financial Services Authority (OJK), is a fairly tight number compared to the uncontrolled situation a few years ago.
However, he noted that there are still many people who feel burdened by the accumulation of high interest rates and fines, especially on short-term loans.
For this reason, he encourages a thorough evaluation of the loan interest policy, including strengthening the monitoring mechanism, increasing transparency in effective annual interest presentations (effective annual rate), as well as public education so that people are not trapped in loans that exceed their financial capacity.
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Fauzi juga menekankan pentingnya etika dan tanggung jawab sosial dalam pertumbuhan industri pinjol dan mengingatkan agar industri tersebut tidak berkembang menjadi jebakan utang digital yang sistemik.
"Maka kerja sama antara OJK, KPPU, dan aparat penegak hukum sangat diperlukan untuk mengawasi sekaligus membenahi industri ini secara menyeluruh," imbuhnya.
Dia menegaskan, Komisi XI DPR RI akan terus mendorong penguatan regulasi dan pengawasan di sektor jasa keuangan, dengan fokus pada perlindungan konsumen dan terciptanya keadilan ekonomi.
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Fauzi also emphasized the importance of ethics and social responsibility in the growth of the loan industry and reminded the industry not to develop into a systemic digital debt trap.
"So cooperation between OJK, KPPU, and law enforcement officials is needed to supervise and fix this industry as a whole," he added.
He emphasized that Commission XI of the DPR RI will continue to encourage the strengthening of regulations and supervision in the financial services sector, focusing on consumer protection and the creation of economic justice.