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JAKARTA, KOMPAS.com – The Financial Services Authority (OJK) will revoke the temporary suspension or moratorium on permits for financial technology (fintech) peer to peer lending services or online loans (pinjol) this year.
OJK Deputy Commissioner Bambang Budiawan said the moratorium would likely be lifted in the third quarter of this year at the earliest.
“At the latest in the fourth quarter of 2023. From the regulations, we don’t have any problems from supervision to the final,” said Bambang while attending the CSIS event, quoted from Kontan.co.id, Tuesday (16/5/2023).
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Bambang explained that later the new players would be allowed to submit themselves. Therefore, he appealed to P2P Lending enthusiasts to prepare themselves so that the process can be fast.
“In the past, there had to be 2 stages, namely a principle permit and an operational permit. Now it can be directly optional. Therefore, they must have documents, IT, capital, and other requirements ready,” he said.
The Indonesian Joint Funding Fintech Association (AFPI) considers that the plan to lift the moratorium is good for the P2P lending fintech industry.
Akseleran CEO and Head of Law, Ethics and AFPI Protection Ivan Nikolas Tambunan said lifting the moratorium could reduce the impact of illegal fintech.
“Because there are many new players who want to enter, but in the end they can’t, of course there will be a tendency to even become illegal,” said Ivan.
Therefore, Ivan said players who had just entered the fintech business must also be well selected to implement the new POJK standards, especially from a capital perspective that must be strong so that the business system must be ready.
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He also explained that lifting the moratorium has the potential to bring new players with innovation to the industry. Thus, it can help develop the fintech industry.
“Now, for example, if there is a moratorium, even though there are new players who are competitive, they won’t be able to (implement their innovation),” he said.
Ivan said he didn’t mind the large number of new players wanting to enter the fintech industry. According to him, the most important thing is to compete healthily.
“In fact, if it is closed with a moratorium, the competition will not be healthy. Therefore, each player must have their own advantages,” he said.
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Previously, Director of Financial Technology Supervision of the Financial Services Authority (OJK) Tris Yulianta said the move to lift the moratorium would be carried out in line with the launch of new technology for loan licensing.
Tris hopes that the new technology can be completed in the near future so that the existing moratorium can be lifted soon.
“We are working on it this year, maybe not even until the end of this year, but in the near future,” he said Friday (5/5). (Reporter: Ferry Saputra | Editor: Herlina Kartika Dewi)
This article has been published on Kontan.co.id with the title OJK Will Revoke the Moratorium on Borrowing Permits in the Fastest Quarter III-2023
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2023-05-16 15:41:00
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