AFPI Says Most Members Appeal KPPU Ruling on Online Loan Cartel

The Indonesian Fintech Lending Association (AFPI) has stated that most of its members are currently filing appeals with the commercial court against a ruling by the Business Competition Supervisory Commission (KPPU) regarding an alleged interest rate cartel in the online lending industry.

“We are in the process of appealing at the commercial court,” said AFPI Chairman Entjik S. Djafar in Jakarta on Thursday.

AFPI has also coordinated with the Financial Services Authority (OJK) regarding the development of the case. “Yes, there has been coordination with the OJK,” he said.

Head of AFPI Public Relations Kuseryansyah said the association is providing access to legal aid institutions for member companies that require assistance. “AFPI is facilitating access to legal aid institutions that may be able to provide support,” Kuseryansyah said.

According to him, the decision to use legal assistance remains in the hands of each individual company. “It is not that AFPI is providing legal counsel to enter the KPPU proceedings. We are simply giving members access to various alternatives should they need to cooperate with a legal aid institution,” he said.

This is because the case is a dispute between the individual companies and the KPPU, not between AFPI and the institution. “But as an association with a responsibility to its members, we are opening up access to information about legal aid institutions that may be able to cooperate,” he added.

Kuseryansyah confirmed that the appeal process is currently underway at the commercial court and that the majority of the sanctioned online lending companies have filed legal challenges. “Most of them have filed appeals. I do not know the exact figure out of the 97,” he said.

Despite the ongoing case, Kuseryansyah assessed that the online lending industry is still showing growth, indicating that the case has not had a significant impact on public trust. “If we look at the numbers, online lending is still growing. There may be varying views, but judging by the growth figures, we remain optimistic,” he said.

Coordination between AFPI and the OJK continues routinely across various aspects of industry supervision, not solely regarding the KPPU case. The KPPU previously imposed fines totalling IDR 755 billion on 97 online lending or fintech peer-to-peer lending companies. The companies were found to have violated Article 5 of Law Number 5 of 1999 concerning collective price fixing or an interest rate cartel in case Number 05/KPPU-I/2025.