OJK has issued two schemes (technical guidance) for Indonesian rural banks (BPRs) and fintech P2P platforms to collaborate. The channeling scheme enables the P2P platform to be the channel or intermediary between the BPR as the institutional lender and the
The IMF formally complimented Indonesia after performing a policy assessment that included pandemic management, fiscal stimulus policies, monetary policies, easing macro and micro-prudential policies (stability of financial systems/institutions) and the central bank’s involvement in policy making. Head of Bank Indonesia
While major banks focus on developing digital banks in-house, fintechs seek partnerships with rural banks (BPRs) to gain market share in digital transactions. The collaboration between fintech lending and BPRs is likely to grow, given the synergies provided by fintechs
During this raise, Gojek will become one of LinkAja’s series B preferred shareholders, with total fund commitments of >US$ 100 million. Gojek Co-CEO, Andre Soelistyo, mentioned that the investment adds payment options to its platform in addition to GoPay, which
Bank Jago, a digital bank, is actively engaging in fintech lending to reach consumers who are difficult to reach by banks. To date, the digital bank has committed to channeling schemes of IDR 100 billion (US$ 6.9 mil) with Akulaku
The report titled, “Understanding the Welfare and Livelihood of Society During the COVID-19 Pandemic in Indonesia” aimed to understand the impact of the pandemic on gender-based violence and unpaid care work. While the study concluded no significant gender differences in
First, there is a need to recognise the impact of the Covid-19 pandemic and a sizable health budget to manage it. The government has prepared up to IDR ~172 trillion (US$12 billion) on healthcare, mainly in testing, tracing and treatment
With the rise in digital transactions and fintech lenders, OJK is catching up to regulate this sector. In early 2021, OJK found as many as 68 illegal non-bank financial sector businesses, consisting of 51 unlicensed P2P lenders and 17 pawn
Effective from 10th February 2021, Bank BKE has changed its name to Bank Seabank Indonesia, after officially acquired by Sea Group’s e-commerce platform Shopee. This effort by Shopee is to grow its payments arm, PayLater, and enter the digital banking
Neobanks, defined as financial technology companies that perform full digital banking services such as credit and deposit services, currently do not exist in Indonesia. Mr. Tony, Deputy Director of Indonesian Banking Architecture at OJK, explained that this is due to
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