OJK Chief Urges Measures to Curb Bad Loans in Online Lending and Pegadaian

The Chief Executive for the Supervision of Financing Institutions, Venture Capital Companies, Microfinance Institutions, and Other Financial Services Institutions (PVML) at the Financial Services Authority (OJK), Agusman, has confirmed the strengthening of the PVML industry to improve financial access and financing for the public. OJK is encouraging digitalisation efforts to facilitate financial and financing access to the PVML industry, while simultaneously pushing for stronger regulations and increasing literacy and education to prevent fraud cases, including illegal pawnshops. On the other hand, OJK is also ensuring efforts to suppress financing risk or Non-Performing Loans (NPL), particularly in the online lending and pawnshop industries.