Healthy Pinjol, OJK Launch Roadmap For Fintech Lending 2023-2028

Road Map Launch Fintech Lending (photo: Aris Nurjani/VOI)

The Financial Services Authority (OJK) officially launched the Roadmap for the Development and Strengthening of Information Technology-Based Joint Funding Services (LPBBTI) or Fintech Lending 2023-2028 and Circular (SE) OJK 19/SEOJK.06/2023 on Friday, November 10.

Meanwhile, OJK released a circular letter from OJK or SEOJK No.19/SEOJK.06/2023 regarding the Implementation of Information Technology-Based Joint Funding Services (LPBBTI) in this SEOJK circular letter, one of the things that became discussed was the setting of the maximum economic benefit limit or interest on peer-to-peer lending industry aka online loans (pinjol).

Chairman of the OJK Board of Commissioners Mahendra Siregar said the roadmap and SE OJK will be the determinants for the financial industry in the next five years.

"We are launching a roadmap for developing and strengthening information technology-based joint funding services for the next five years," said OJK Board of Commissioners Chairman Mahendra Siregar, at the launch of LPBBTI, Friday, November 10.

Mahendra said that the launch of the LPBBTI roadmap has two main goals, namely first to strengthen cooperation and synergy, a high commitment to fixing, improving integrity, improving the quality of service and the products produced for the Indonesian people from LPBBTI.

"Second, the fintech lending industry is entering an era based on such strong legality and is mandated directly by previously non-existent laws," he explained.

Meanwhile, the Chief Executive of the Supervision of Financing Institutions, Venture Capital Companies, Micro Financial Institutions and Financial Services Institutions (PVML), Agusman said that the presence of this roadmap is needed to fix and encourage the contribution of the LPBBTI industry to the national economy in the context of financing the productive sector and MSMEs.

Agusman said this roadmap is one of the efforts that will be made by the OJK together with the LPBBTI industry in the next 5 years to realize a common vision, namely the LPBBTI industry which is healthy, with integrity and oriented towards financial inclusion and consumer protection, and contributes to national economic growth.

"This ROadmaps illustrates the efforts that will be carried out by the OJK together with the industry in the 2023-2028 period to realize a common vision, namely the LPBBT industry which is healthy, with integrity and oriented towards financial inclusion and consumer protection, and contributes to national economic growth," he explained.

Agusman conveyed that the implementation of the use of the roadmap will be carried out with 3 phases, first the phase of strengthening the foundation, the consolidation phase and creating momentum and phase of alignment and growth.

"This begins with the strengthening phase of the 2023-2024 foundation, followed by a consolidation phase and creating momentum 2025-2026, and followed by a phase of alignment and growth in 2027-2028," he concluded.