OJK Limits the Public to Only Use a Maximum of 3 Online Loan Platforms

pinjol

OJK Restricts the Public to Only Use Pinjol on a Maximum of 3 Platforms

The translation of the given 'Bahasa' text to 'English' while preserving the HTML tags is: "The amount of the loan requested will also be adjusted to the applicant's salary capability. "

OJK Limits the Public to Only Use a Maximum of 3 Online Loan Platforms

Dream - The Financial Services Authority (OJK) will limit the sources of loans that borrowers or the public can access to only three platforms. With this provision, it is hoped that borrowers will not exploit online lending platforms for the practice of "digging a hole to cover a hole" due to its significant negative impact.

"To fence off the behavior of digging a hole and covering a hole, we can only expect a maximum of 3 platforms in the future. Because if there are more platforms, there will be a real chance for that digging a hole and covering a hole to happen. It's like a lottery. It can be dangerous,"

The following is the translation of the given 'Bahasa' text to 'English' while preserving any html tags: "words from the Executive Head of the Supervisory Board of Financing Institutions, Venture Capital Companies, Microfinance Institutions, and Other Financial Institutions (PVML) OJK Agusman, in a press conference at the Four Seasons Hotel, South Jakarta, Friday, November 10, 2023 quoted from Liputan6.com."

The regulation is stipulated in the Circular Letter of the Financial Services Authority (SEOJK) No. 19 of 2023 regarding Technology-Based Financing Services, which regulates, among others, business activities, funding disbursement and repayment mechanisms, maximum limits of economic benefits, and collection.

"Analysis of Potential Borrowers"

Agusman conveyed, SE OJK was issued to create a healthier and safer peer-to-peer lending ecosystem for the community when applying for online loans. OJK will also request providers of online loan services to conduct prior analysis of loan applications.

With these rules, online lending companies can assess the borrowing ability of potential borrowers and ultimately avoid the possibility of payment defaults.

"So don't let them, they actually don't have financial capability but join so they can't afford to pay."
he said.

"Dream.co.id."

"Loan Depends on Salary"

Agusman added, one of the indicators to consider in ensuring the borrower's ability to repay is through the borrower's salary. The amount of loan that can be received will be determined by the salary capability.

From the year 2024 onwards, borrowers can only apply for online loans up to a maximum of 50 percent of their salary. However, after 2024, the maximum application will be reduced to 40 percent to 30 percent, and so on.

"In the next year, only 50 percent of the salary is allowed. The following year, it will be reduced to 40 percent, and the next year to 30 percent. The best practice is 30 percent. We should not borrow more than our salary. Otherwise, we won't be able to eat."
The translation of the given 'Bahasa' text to 'English' while preserving any HTML tags is: "he concluded."

"Dream.co.id."

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OJK Restricts the Public to Only Use Pinjol on a Maximum of 3 Platforms

"To fence off the behavior of digging a hole and covering a hole, we can only expect a maximum of 3 platforms in the future. Because if there are more platforms, there will be a real chance for that digging a hole and covering a hole to happen. It's like a lottery. It can be dangerous,"

"Analysis of Potential Borrowers"

"So don't let them, they actually don't have financial capability but join so they can't afford to pay."he said.

"Loan Depends on Salary"

"So don't let them, they actually don't have financial capability but join so they can't afford to pay."
he said.