4 hours ago
8
January 23, 2025 | 12:23 pm
TEMPO.CO, Bandung - The Indonesian Fintech Lenders Association (AFPI) reported that cumulative online loan disbursements by licensed peer-to-peer (P2P) lending companies, also known as online lenders (pindar), have reached nearly Rp1,000 trillion.
Tofan Saban, Chair of the AFPI Productive Funding Cluster, said that the total loans disbursed by 97 licensed P2P lending companies since the industry's inception in 2017 until November 2024 amounted to Rp978 trillion.
“This is a cumulative figure. Currently, outstanding loans totaling Rp74 trillion are still circulating within the community,” Tofan explained during a media gathering in Kota Baru Parahyangan, West Bandung Regency, West Java, on Wednesday, January 22, 2025.
He further revealed that these loans were disbursed to two million lenders, comprising both individuals and entities, including some from overseas.
Since the establishment of this sector, the number of borrowers has reached an impressive 137 million, both individuals and businesses. “We have served the needs of approximately 137 million individuals or entities by facilitating the distribution of funds through our industry,” Tofan emphasized.
Furthermore, AFPI reported a TKB90 figure of 97.62 percent as of November 2024. As outlined on the OJK (Financial Services Authority) website, TKB90 measures the success rate of P2P lending companies in facilitating the settlement of loan obligations within 90 days of the due date.
Previously, AFPI stressed the distinction between licensed online loans (pindar) and illegal online loans (pinjol). The term "pinjol" has now been replaced with "pindar", which has officially referred to Information Technology-Based Joint Funding Services (LPBBTI) or P2P lending companies.
Editor’s Choice: OJK Revokes General Insurance Business License of PT Berdikari Insurance
Click here to get the latest news updates from Tempo on Google News
OJK Revokes General Insurance Business License of PT Berdikari Insurance
5 jam lalu
The Financial Services Authority (OJK) announced that it has revoked the business license of general insurance company PT Berdikari Insurance.
OJK Takes Over Crypto Asset Supervision Function, What About the Decentralization Concept?
8 hari lalu
Indonesia's Financial Services Authority (OJK) ensures that supervision of crypto assets will not reduce the essence of decentralization in crypto.
OJK Issues New Rules for Pension Fund Company Reports
14 hari lalu
Indonesia's Financial Services Authority (OJK) issues new regulation regarding periodic reports of employer pension fund companies.
OJK Claims to Have Blocked 8,500 Bank Accounts Suspected of Online Gambling
15 hari lalu
The Financial Services Authority (OJK) said it had blocked about 8,500 bank accounts suspected of being involved in online gambling activities.
Corruption Under the Guise of Social Funds
18 hari lalu
Corruption under the guise of social programs at the Bank of Indonesia has been exposed again. It is time to eliminate the source of scrounging.
Urgent Need to Regulate Fintech
20 hari lalu
The collapse of several peer-to-peer lending fintech companies has brought much concern to individual investors.
Sri Mulyani Says Capital Market Education Should Start at Elementary School
20 hari lalu
Sri Mulyani Indrawati said capital market education should start as early as primary school.
OJK Reveals New Regulations for Crypto Trading Mostly Adopted from Bappebti
24 hari lalu
Indonesia's Financial Services Authority (OJK) revealed that the new regulation on crypto asset trading has adopted many of the rules made by Bappebti
KPK Raids OJK Office in CSR Funds Corruption Probe
33 hari lalu
The Indonesian Financial Services Authority (OJK) affirmed that the OJK respects the KPK's law enforcement efforts.
DPR: Govt Lacks Strong Commitment to Resolve Online Loan Issues
33 hari lalu
As of October 29, 2024, there are 97 legal online loan companies registered and licensed by OJK.
