Distributing Financing Up To Rp221 Trillion, OJK Appreciates Pinjol: Its Existence Is Needed By The Community

Chief of OJK Tongam L. Tobing Investment Alert Task Force (Photo: Doc. Antara)

JAKARTA - Chairman of the Financial Services Authority (OJK) Investment Alert Task Force (SWI) Tongam L. Tobing said the amount of funds that had been disbursed by fintech lending companies or online loans (pinjol) so far had touched Rp221.6 trillion.

According to him, this value was given to 64.8 million customers. In addition, Tongam also revealed that the current outstanding amount of funding is Rp. 23.7 trillion.

"From this data, we can conclude that the existence of loans is really needed by the community to meet funding that cannot be served by the formal financial sector," he said in a webinar organized by Trijaya, Friday, August 6.

Tongam added that this evidence made the public have to admit that financial institutions with 4.0 technology did have a big role even though negative stigma was often attached to loan business activities.

"Therefore, we appreciate the presence of legal fintech lending to meet the needs of our community," he said.

Tongam reminded that in its development, the number of online lending institutions is quite dynamic. The reason is that the organizers must follow the provisions set by the authorities to ensure security and compliance in financial activities.

“The current loan amount is very likely to decrease in the future because OJK strictly supervises it. If they can't comply with the laws and regulations, then they must be able to return their registered certificates and this will decrease in number," he explained.

For information, until early August 2021 the Financial Services Authority confirmed that the number of official loans was 121 companies. Of these, most of them have registered legality while some of them have the status of having permits.

The OJK has eradicated no less than 442 illegal online loan companies throughout 2021. Then, as many as 79 illegal or fraudulent investments have been blocked by the authorities, and 17 illegal pawns that harm the public have been closed.

"To determine whether the loan is legal or illegal, please check the OJK website," Tongam concluded.