Indonesia: OJK Notes Loan Disbursement by P2P Lending Rises by 116.2% to Rp27.48 Tn

• Nov 12, 2021

TEMPO.CO, Jakarta – The Financial Services Authority (OJK) chairman Wimboh Santoso said the loan value disbursed by financial technology (fintech) lending or peer-to-peer or P2P lending has skyrocketed.

“P2P lending recorded an outstanding financing of Rp27.48 trillion in September 2021, or grew by 116.2 percent year on year (yoy),” said Wimboh at a press conference of the Financial System Stability Committee (KSSK), Wednesday, October 27.

P2P lending is a platform that brings together underserved or unbanked borrowers in the productive and consumptive sectors with individual or institutional lenders.

Wimboh explained that OJK continues to encourage the non-bank financial industry or IKBN to recover quickly, especially in carrying out its role as a financial intermediary.

One of them is by improving public education about various types of non-bank financial products with hopes that people can understand any kind of products they can choose.

OJK will also push for various policies of financial service institutions that support the business sector that will bring impacts on the national economic recovery.

Source: https://en.tempo.co/read/1521962/ojk-notes-loan-disbursement-by-p2p-lending-rises-by-116-2-to-rp27-48-tn