As many as 15 Indonesian peer-to-peer (P2P) lenders have yet to meet the minimum equity requirements mandated by the country’s Financial Services Authority (OJK) in July this year.
“Fifteen of the 102 registered [P2P lending] firms do not meet the norms,” Mohammad Ichsanuddin, deputy commissioner of non-bank supervisory at OJK, said at a press conference on Tuesday.