OJK Finalizes Rules on Assessment of Fintech Soundness Level

The Financial Services Authority (“OJK”) has finalized the Draft Circular of OJK (“Circular of OJK”) on the Soundness Level of Peer-to-Peer (“P2P”) Lending or Online Lending (“Pindar”). Agusman, Chief Executive Supervisor of Financing Institutions, Venture Capital Companies, Microfinance Institutions, and Other Financial Services Institutions OJK, explained that this Circular of OJK is a technical provision that is more specific than Regulation of OJK No. 40 of 2024 (“Regulation 40/2024”) on Information Technology-Based Joint Funding Services (“LPBBTI”).

“These provisions include a number of assessments of capital, funding, profitability, liquidity, and management to ensure adequate capital and mitigate existing risks,” Agusman told Hukumonline.

These provisions also constitute amendments to Circular of OJK No. 19/Circular of OJK.06/2025 on the Organization of LPBBTI (“Circular 19/2025”), which regulates the strengthening of the organization of LPBBTI business activities. The amendments include strengthening the understanding of funding risks and funding risk analysis as an effort to mitigate risks and protect lenders.

“It is still in progress; hopefully, its implementation can be implemented next year,” he added.