OJK Weighs Mandatory Collateral for P2P Lending or ‘Pinjol’

OJK Weighs Mandatory Collateral for P2P Lending or ‘Pinjol’

The Financial Services Authority (OJK) is currently drafting a circular letter that stipulates mandatory collateral for peer-to-peer (P2P) loans.

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Rabu, 23 April 2025 | 12:07

Bisnis.com, JAKARTA — The Financial Services Authority (OJK) is currently drafting a circular letter that stipulates mandatory collateral for peer-to-peer (P2P) loans over IDR 2 billion in an effort to cut down loan defaults. The draft is currently in the works, and its provisions will take effect no later than one year after the circular is finalized.

According to Agusman, OJK’s chief executive for supervision of financing, venture capital, microfinance, and other financial institutions, the aforementioned collateral is targeted specifically on productive loans in P2P or online lending, often known locally as pinjol.

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