Inp.polri.go.id - Jakarta.  Speaker of House of Representatives Puan Maharani emphasized that the new regulations being drafted by the Financial Services Authority (OJK) for financial technology (fintech) peer-to-peer (P2P) lending or online loans must prioritize public safety and protection.

“OJK must be firm in drafting rules on online loans and prioritize public protection and safety. We should prevent more people from getting trapped in online loan debt,” she stressed on Monday (15/7/2024).

Speaker Puan noted that many Indonesians lack comprehensive literacy regarding online loan regulations, leading to entrapment in debt and difficult situations.

“In reality, more people are falling into online loan debt. Hence, educating the public is crucial to protect them from defaulting,” she explained, as quoted by antaranews.com.

Emphasizing the importance of education, regulation, and strict oversight to help people make wise decisions when using online lending services, Speaker  Puan called on the public understand safe online loan practices that suit their economic situation

She urged OJK to strictly enforce rules to limit the ways and amounts that consumers can borrow online.

According to OJK’s 2023 Fintech Lending Statistics, Generation Z and Millennials constitute 54.06% of online loan users, totaling IDR 27.1 trillion.

“The government must ensure illegal online loans are eradicated and enforce laws against these harmful high-interest loans,” Speaker Puan said.

(mg/ndt/pr/nm)