OJK: Limit on maximum of three peer-to-peer lending platforms will not be implemented

The Financial Services Authority (OJK) has stated that the regulation intended to limit public funding to a maximum of three online lending (P2P) providers will not be implemented, partly due to the consideration of the high dynamics in public funding needs.

Furthermore, the decision takes into account short-term working capital requirements and the informal sector, as well as the necessity of supporting access to inclusive alternative financing capable of reaching underserved populations.

“The limit on funding across three P2P providers will not be enforced, provided that the P2P providers fulfil their obligations,” said Agusman, the Executive Head of Supervision of Financing Institutions, Venture Capital Companies, Microfinance Institutions, and Other Financial Service Institutions (PVML) at OJK, in a written response in Jakarta on Monday.

The obligations that P2P providers must meet include improving and maintaining the quality of funding analysis; adhering to prudential principles and good corporate governance; implementing adequate risk management; and maintaining the aggregate non-performing loan rate (TWP90) at a maximum level of 5 per cent.

The aggregate non-performing loan rate (TWP90) was recorded at 4.32 per cent as of July 2026, an increase from the previous month’s 4.26 per cent.

Agusman noted that there were 16 P2P providers with a TWP90 above 5 per cent in July 2026, the same number as in June 2026.

“OJK continues to closely monitor the steps taken by these providers to improve the quality of their financing,” he said.