Players in Indonesia’s peer-to-peer (P2P) lending industry have welcomed a new regulation by the Financial Services Authority (OJK), an executive of a fintech industry body said on Friday. This is despite the law being more stringent than existing rules.
The regulation, which took effect on July 4, is more extensive than its predecessor, which was introduced in 2016 as a quick response to the emergence of P2P lending — internet platforms that connect borrowers to lenders.