OJK to Revoke Moratorium on P2P Lending Licensing
Due to the high rate of illegal peer-to-peer lending (“P2P Lending”) platforms cases, on February 2020, the Financial Service Authority (Otoritas Jasa Keuangan or “OJK”) decided to put a moratorium on P2P Lending licensing. This decision was made for OJK to scrutinize and carry out proper evaluation of a large number of P2P Lending platforms which were already registered but have yet to be licensed. Consequently, this moratorium leads to no P2P Lending licenses have been issued by the OJK for the past 3 years.
However, on 16 May 2023, the OJK announced that it planned to revoke the P2P Lending moratorium by the fourth quarter of 2023 at the latest. Thus, the prospective P2P Lending players are suggested to prepare for the requirements of P2P Lending license.
Read more about this update here.
Bahasa Indonesia
Mengingat tingginya tingkat kasus platform peer-to-peer lending (“P2P Lending”) ilegal, pada Februari 2020, Otoritas Jasa Keuangan (“OJK”) memutuskan untuk melakukan moratorium perizinan P2P Lending. Keputusan ini dibuat bagi OJK untuk meneliti dan melakukan evaluasi yang tepat terhadap platform P2P Lending yang sudah terdaftar tetapi belum berizin. Akibatnya, hal ini menyebabkan tidak terdapat izin P2P Lending yang diterbitkan oleh OJK selama 3 tahun terakhir.
Namun, pada 16 Mei 2023, OJK mengumumkan rencananya untuk mencabut moratorium P2P Lending paling lambat pada kuartal IV-2023. Dengan demikian, para calon pemain P2P Lending disarankan untuk mempersiapkan persyaratan perizinan P2P Lending.
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Disclaimer:
This client update is the property of ARMA Law and intended for providing general information and should not be treated as legal advice, nor shall it be relied upon by any party for any circumstance. ARMA Law has no intention to provide a specific legal advice with regard to this client update.
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