Expertise: Fintech

Fintech in Indonesia – Insurance Products, Credit References

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In principle, the selling and marketing of insurance products in Indonesia is regulated and licensed by the Financial Services Authority (OJK), although there seems to be no differentiation yet between fintech companies and companies that engage in the conventional selling and marketing of insurance products. In practice, licensed insurance companies in Indonesia have been selling … Fintech in Indonesia – Insurance Products, Credit References

Fintech in Indonesia – P2P Lending and Crowdfunding

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Peer-to-peer lending is specifically regulated in Indonesia under Financial Services Authority (OJK) Regulation No. 77/POJK.01/2016 regarding Information Technology-Based Money Lending Services, dated 29 December 2016. It provides the OJK the right to regulate and supervise peer-to-peer lending activities, including handling the registration and licensing of peer-to-peer lending platform providers. Peer-to-peer lending in Indonesia is described … Fintech in Indonesia – P2P Lending and Crowdfunding

Fintech in Indonesia – Consumer Lending

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Consumer lending is regulated in Indonesia, with a particular focus on information technology-based money lending services (peer-to-peer lending), as regulated under Financial Services Authority (OJK) Regulation No. 77/POJK.01/2016 regarding Information Technology-Based Money Lending Services, dated 29 December 2016. The OJK has the authority to regulate, register and issue licenses, as well as supervise the fintech … Fintech in Indonesia – Consumer Lending

Indonesia Issues Regulation Clearing Way for Trading of 229 Cryptoassets

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Indonesia’s Commodity Futures Trading Supervisory Body (Badan Pengawas Perdagangan Berjangka Komoditi or “Bappebti”) has issued the long-awaited list of cryptoassets that can be traded in Indonesia. This list of approved cryptoassets is contained in Bappebti Regulation No. 7 of 2020 regarding the Stipulation of the List of Cryptoassets that Are Allowed to Be Traded in … Indonesia Issues Regulation Clearing Way for Trading of 229 Cryptoassets

Fintech in Indonesia – Financial Regulation

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Fintech products and services in Indonesia are mainly regulated by two government bodies, Bank Indonesia and the Financial Services Authority (OJK). Bank Indonesia Regulation No. 19/12/PBI/2017 regarding the Organization of Financial Technology, dated 30 November 2017, regulates fintech activities that require licensing or registration in relation to monetary stability, financial system stability and payment systems, … Fintech in Indonesia – Financial Regulation

Peer-to-Peer Lending in Indonesia: A Regulatory Update

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In February of this year, the Indonesian Financial Services Authority (Otoritas Jasa Keuangan or “OJK”) issued an updated checklist for peer-to-peer lending (“P2P lending”) platform providers (“Checklist”) registering with the OJK or applying to the body for a business license or change of ownership. The new Checklist introduces several changes to the previous checklist issued in … Peer-to-Peer Lending in Indonesia: A Regulatory Update

Fintech in Indonesia: Weighing the Future

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SSEK’s Rusmaini Lenggogeni contributed an article to the International Financial Law Review’s special supplement on cryptocurrency regulation around the world. SSEK looks at Indonesia’s clampdown on virtual currencies and the future potential of blockchain. You can find the article here. International Financial Law Review (IFLR) is a market-leading financial law publication.

Indonesian Central Bank Regulates Financial Technology

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Indonesia’s central bank has for the first time issued a regulation designed to deal with financial technology (“fintech”) in general. Bank Indonesia (“BI”) Regulation Number 19/12/PBI/2017 regarding the Provision of Financial Technology, dated November 30, 2017 (“Reg. 19/2017”), was made public by BI on December 7. The stated aim of Reg. 19/2017 is to regulate … Indonesian Central Bank Regulates Financial Technology

Bank Indonesia Issues Rules for Payment System Service Providers

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Bank Indonesia (BI) has issued a circular letter on licensing procedures and requirements related to payment system transactions in Indonesia. BI Circular Letter No. 18/41/DKSP regarding the Implementation of Payment Transaction Processing, dated December 30, 2016 (the Circular Letter), is an implementing regulation for BI Regulation No. 18/40/PBI/2016 on the Implementation of Payment Transaction Processing … Bank Indonesia Issues Rules for Payment System Service Providers