Indonesia’s P2P business is covered in OJK regulation No. 77 on information technology-based lending (POJK 77). On 13 November 2020, the OJK published a draft of its regulation on P2P, which is planned to replace POJK 77, to provide more legal certainty on the P2P business model and protect the public interests.
Some of the provisions in the draft are adopted from the existing OJK’s regulations in other heavily regulated business sectors such as insurance, securities, and multi-finance. According to the draft, the maximum loan granted by a lender,
including a super lender and its affiliates, would be limited to 25% of the total annual outstanding loan.
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