P2P Lending: More Cash to Flush, More Requirements to Follow

Back in 2022, the Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) issued Regulation No. 10/POJK/05/2022 (“Regulation 10/2022”) on Information Technology-Based Joint Funding Services (Layanan Pendanaan bersama Berbasis Teknologi Informasi – “P2P Lending”). This framework was later partially revoked through the issuance of Regulation of the OJK No. 22 of 2023 on Consumer and Public Protection Within the Financial Services Sector.[1] Regulation 10/2022 was previously analyzed by Hukumonline’s legal research and analysis team in the following edition of Indonesian Legal Brief: “OJK Updates Main Regulatory Framework for P2P Lending Services.”