OJK Elaborates upon Electronic Application Procedures for Licenses, Approvals and Reports for P2P Lending Services Organizers

In a bid to further address the procedures and mechanisms that apply in relation to the submission of electronic applications for license, approvals and reports (collectively referred to as “Applications”) for peer-to-peer (“P2P”) lending services organizers (“Organizers”), as mandated under Regulation of the Financial Services Authority (Otoritas Jasa Keuangan – “OJK”)  No. 10/POJK.05/2022 (“Regulation 10/2022”),[1] The OJK has now issued Circular No. 21/SEOJK.05/2022 on Procedures for Electronic Applications for Licenses, Approvals and Reporting for Organizers of Information Technology-Based Co-Funding Services (“Circular 21/2022”).[2]