OJK Encourages Online Loan Companies to Conduct IPO

The Financial Services Authority (OJK) is encouraging online loan platform companies (to seek funding by releasing shares to the public on the Indonesian Stock Exchange (IDX) in order to meet the minimum equity required by the regulator.

Rizqi Rajendra

24 Nov 2023 - 18.56
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OJK Encourages Online Loan Companies to Conduct IPO

An employee is looking for information about online loans in akarta on Monday (14/8/2023). - Photo/JIBI-Himawan L Nugraha

Bisnis, JAKARTA — The Financial Services Authority (OJK) is encouraging online loan platform companies (to seek funding by releasing shares to the public on the Indonesian Stock Exchange (IDX) in order to meet the minimum equity required by the regulator.

Head of the Department of Supervision of Microfinance Institutions and Other Financial Services Institutions at OJK, Edi Setijawan, said that so far, the majority of funding sources for peer-to-peer lending financial technology companies still come from corporate investors, not retail investors.

"Of course, if they enter the capital market, it would be even better," he said when met during the Bisnis Indonesia Business Challenges 2024, Thursday (23/11).

Based on OJK Regulation no. 10/POJK.05/2022 concerning Information Technology-Based Collective Financing Services, P2P lending fintech companies are required to have equity or minimum capital of IDR 2.5 billion starting July 4, 2023. The minimum capital will increase gradually to IDR 7.5 billion starting July 4, 2024, and IDR 12.5 billion starting July 4, 2025.

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OJK Encourages Online Loan Companies to Conduct IPO

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