The Financial Services Authority (Otoritas Jasa Keuangan/OJK) has not signaled any plans to lift the moratorium on fintech lending licenses this year. Since the moratorium began in early 2020, the government has halted issuing new licenses for peer-to-peer (P2P) lending platforms.

Although OJK had previously considered ending the moratorium in September 2023, no further action has been taken. Edi Setijawan, Head of Licensing, Special Examinations, and Quality Control of Supervision for Financing Institutions, Venture Capital Companies, Microfinance Institutions, and Other Financial Services Institutions (PMVL) at OJK, confirmed there is still no decision to revoke the policy.

"There is no new policy yet. We cannot announce anything at this time, and so far, the moratorium remains in place," Edi stated, as quoted on Tuesday (11/3/2025).

He added that OJK has not engaged in discussions with the new government regarding the potential revocation of the fintech lending moratorium.

"No [discussions with the new government]. We will observe the situation this year. As of now, there has been no indication of policy changes," Edi explained.

Previously, Agusman, Executive Head of Supervision for Financing Institutions, Venture Capital Companies, Microfinance Institutions, and Other Financial Services Institutions at OJK, highlighted that any decision to lift the moratorium would depend on two main factors: the readiness of supervisory infrastructure and the current state of the fintech lending industry.

"The preparation of supervisory infrastructure and the condition of the LPBBTI industry are still being thoroughly assessed as prerequisites for lifting the moratorium," Agusman said.

Regarding the industry's status, OJK revealed that as of February 2025, 11 out of 97 registered fintech P2P lending platforms had not yet met the minimum equity requirement of IDR 7.5 billion. Five of these platforms are currently undergoing a review process to increase their paid-up capital.

According to regulations, the minimum equity requirement will rise to IDR 12.5 billion by June 29, 2025. Industry players are now striving to secure new capital, with some turning to investors, a task made more challenging due to the ongoing moratorium on new fintech lending licenses.

Kuseryansyah, Head of Public Relations for the Indonesian Joint Funding Fintech Association (AFPI), mentioned that many investors are eager to enter Indonesia’s P2P lending sector but are blocked by the OJK's moratorium.

As a solution, he suggested that investors could inject capital into existing licensed platforms or even acquire stakes in those companies.

"Investors can enter now because all platforms have passed the lock-up period. When licensed, there was a lock-up period preventing share sales. But that's over, so platforms are now open to investors both local and international as long as they align with OJK regulations," Kuseryansyah stated.

PHOTO: ANTARA/SEPTIANDA PERDANA

This article was created with AI assistance.