The Indonesian Fintech Peer-to-Peer Lending Association (AFPI) has\nvoiced its disappointment with the Competition Commission\u2019s (KPPU)\ndecision against 97 online loan business actors, who were found guilty\nof engaging in interest rate cartel practices.<\/p>\n
AFPI General Chairman Entjik S. stated that the majority of\nassociation members will appeal the KPPU\u2019s decision.<\/p>\n
\u201cWe are naturally disappointed with this KPPU decision because the\nmaximum economic benefit limit at that time was guidance from the\nFinancial Services Authority (OJK) to protect consumers from predatory\nlending practices and illegal online loans that imposed very high\ninterest rates at the time,\u201d Entjik said in an official statement on\nFriday, 27 March 2026. According to him, the KPPU\u2019s decision does not\nreflect the facts that were openly presented throughout the examination\nhearing.<\/p>\n
Entjik explained that setting the maximum limit for economic benefits\nor loan interest rates is part of efforts to protect consumers and\nprovide clear differentiation from illegal online loan practices. That\nstep also falls within the applicable regulatory framework under OJK\nsupervision.<\/p>\n
Nevertheless, AFPI emphasised that it still respects the prevailing\nlegal process. Entjik said AFPI continues to coordinate with all\nplatforms regarding the legal steps to be taken. \u201cIn principle,\nappealing is the right of each member, but we can state that all members\ndo not accept this decision,\u201d he said.<\/p>\n
The KPPU determined that the 97 business actors violated Article 5 of\nLaw No.\u00a05 of 1999 on the Prohibition of Monopolistic Practices and\nUnhealthy Business Competition. For this violation, the online loan\nactors were imposed with varied fines totalling Rp 755 billion.<\/p>\n
\u201cThis decision marks the end of one of the largest business\ncompetition cases ever handled by the KPPU, both in terms of the number\nof respondents and the scope of the industry that directly impacts the\nwider public,\u201d said Head of Public Relations and Cooperation Bureau of\nthe KPPU, Deswin Nur, in an official statement on Thursday, 26 March\n2026.<\/p>\n
He stated that based on the examination of evidence and facts\nrevealed in the trial, the Commission Panel concluded that there had\nbeen an agreement to set interest rates and\/or economic benefits by the\nrespondents.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/majority-of-afpi-members-to-appeal-kppu-decision-1774619479", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }