Indonesia’s Financial Services Authority, in Indonesian, Otoritas Jasa Keuangan (OJK), has issued new regulations providing a regulatory framework for peer to peer, information technology based, funding services (the New Regulations).* The New Regulations set out detailed restrictions on the distribution of funds from institutional lenders, covering areas such as the required minimum paid-up capital and equity, limits on foreign ownership of jointly funded ventures, and maximum lending limits.

The New Regulations revoked Regulation No. 77 of 2016 on Information Technology based Lending Services. The New Regulations came into effect on 4 July 2022.

*OJK Regulation No. 5/POJK.03/2022 on Credit Information Management Agencies