Indonesia’s Financial Services Authority (OJK) issued a statement noting it has reviewed and respects the ruling by the Business Competition Supervisory Commission (KPPU) tribunal in Case No 05/KPPU-I/2025 concerning alleged price-fixing under Article 5 of Law No 5 of 1999 in technology-based joint funding or online lending services. The KPPU panel found all reported parties proven, legally and convincingly, to have violated Article 5. In response, OJK reiterated that it will continue to push the online lending (Pindar) industry to strengthen governance, risk management and consumer protection under its mandate, including through OJK Circular Letter No 19/2025 on technology-based joint funding services (LPBBTI). That circular includes limits on the amount of “economic benefit” that LPBBTI providers may charge borrowers, aimed at promoting healthy, transparent business practices and consumer protection; OJK also referenced existing requirements on governance, risk management and provider soundness, as well as its 2023–2028 LPBBTI development and strengthening roadmap. OJK said it will continue monitoring industry developments and ensure LPBBTI providers operate in line with applicable rules to support financial sector stability and public trust in digital financial services.
OJK 2026-03-27
Indonesia Financial Services Authority respects Business Competition Supervisory Commission ruling finding online lenders guilty in interest rate cartel case
Indonesia’s Financial Services Authority (OJK) acknowledged and respected the Business Competition Supervisory Commission tribunal ruling finding online lending providers guilty of price-fixing under Article 5 of Law No 5 of 1999. OJK reiterated it will strengthen governance, risk management and consumer protection in technology-based joint funding services under OJK Circular Letter No 19/2025, including limits on “economic benefit” charges, and will monitor industry developments to safeguard financial stability and public trust.