Rupiah Weakens, Operational Burden on Online Lending Industry Potentially Rises

JAKARTA, KOMPAS.com - The weakening of the rupiah’s exchange rate against foreign currencies is assessed to potentially increase the operational burden on the online lending industry (pindar), or peer-to-peer lending. This is particularly true for providers still using foreign-based technology services or infrastructure. OJK’s Executive Head of Supervision for Financing Institutions, Venture Capital Companies, Microfinance Institutions, and Other Financial Services Institutions, Agusman, stated that the impact of the rupiah’s weakening does not directly affect the disbursement of financing in the pindar industry. “The weakening of the rupiah’s exchange rate against foreign currencies has the potential to increase the operational burden on Pindar Providers, especially those using foreign-based technology services or infrastructure,” Agusman said in a written response during the OJK’s Monthly Commissioners’ Meeting, quoted on Friday (8/5/2026). According to him, the pressure on operational costs is one of the challenges that industry players need to anticipate amid economic dynamics and exchange rate movements. “In principle, this condition does not directly impact financing disbursement, but it can affect the providers’ ability to maintain operational performance and business efficiency,” Agusman said. Agusman mentioned that several necessary steps include improving operational efficiency, prudent cost management, and strengthening risk management. “To anticipate this, Pindar Providers are encouraged to take necessary steps, including improving operational efficiency, prudent cost management, and strengthening risk management,” he said. Amid exchange rate pressures and global economic dynamics, the pindar industry also faces several other challenges related to financing quality and business resilience. Additionally, the industry is required to have stronger resilience against changes in economic conditions. “The pindar industry faces challenges including the need to strengthen credit risk mitigation and resilience against economic dynamics, so Pindar Providers need to take strengthening steps to maintain sustainability and financing quality as well as improve consumer protection,” Agusman said. Pressure on industry efficiency is also reflected in the operational expense to operational income ratio, or BOPO, of the pindar industry.