Two Shariah Fintech Lenders' Merger Plan Fails, OJK Says No Agreement Yet

Indonesia’s financial services authority, OJK, disclosed the latest developments regarding the proposed merger of two Islamic fintech peer-to-peer lenders. Agusman, the Executive Head of Supervision of Financing Institutions, Venture Capital Firms, Microfinance Institutions and Other Financial Services Institutions at OJK, said the merger process cannot proceed to the next stage because an agreement between the parties has not been reached.

Previously, the two operators had planned to merge to meet the minimum equity requirement of Rp 12.5 billion. The obligation is set in OJK Regulation No. 40 of 2024 on Information Technology-Based Collective Funding Services or LPBBTI, which governs fintech lending operations.

OJK notes that there are nine operators out of 95 fintech peer-to-peer lenders that have not met the minimum equity requirement of Rp 12.5 billion as of January 2026.

Agusman said all of them had submitted an action plan to OJK. The documents outline the steps to be taken to meet the minimum equity obligation.

OJK said it will continue to monitor the implementation of these plans in line with developments in efforts to meet the minimum equity obligation.

This article had already appeared on Kontan under the headline ‘Tak Capai Kesepakatan, Proses Merger 2 Fintech Lending Syariah Gagal di Tengah Jalan’.