The Financial Services Authority (OJK) reported that as of early April 2025, ten fintech peer-to-peer (P2P) lending companies in Indonesia have not met the minimum equity requirement of Rp7.5 billion.

Two Firms Under Capital Analysis, Others Pushed to Comply

Agusman, OJK’s Chief Executive for Supervision of Financing Institutions and Other Financial Services, stated that two of the ten providers are currently under analysis for capital increase compliance.

OJK Urges Equity Fulfillment Through Capital Injection or Investors

“OJK continues to take necessary steps to push fulfillment of the minimum equity requirement, whether through capital injection from shareholders or credible strategic investors, including the option of returning business licenses,” said Agusman.

Fintech Lending Grows Alongside Rising Default Risk

Despite equity concerns, the P2P lending sector has shown growth. As of February 2025, fintech loan disbursements rose 31.06% year-on-year to Rp80.07 trillion, slightly higher than January's 29.94% growth.

Meanwhile, the 90-day default rate (TWP90) increased to 2.78% in February, up from 2.52% in January.

OJK Sanctions 32 P2P Lending Firms for Regulatory Violations

In March 2025, OJK issued administrative sanctions to 12 financing companies, 5 venture capital firms, and 32 P2P lending providers for violations of applicable regulations and follow-ups to supervisory findings.

OJK Drafts Rules on BNPL and Pawnshop Financial Reporting

Agusman said OJK is drafting a new circular letter on buy now pay later (BNPL) services by financing companies and sharia financing firms. It will regulate service characteristics, sharia principles, and data governance.

OJK is also drafting rules on financial reporting for pawnshops and sharia pawnshops, covering formats, structures, and submission procedures.

PHOTO: RAZORPAY/KOMPAS

This article was created with AI assistance.