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Fintech News

AFPI announces 50% reduction in consumer interest rates

The Indonesian Joint Funding Fintech Association (AFPI), an OJK-appointed regulator, aims to cut daily interest rates significantly, up to 50%. Economists shared that this mandate has several negative implications, such as decline in fintech-investors, and decline in disbursement volumes. Alternative

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Start up News

Indonesia is fifth globally in number of startups

Indonesia has the fifth largest number of startups (2,305 in total) globally, according to Startup Ranking. Based on Startup Ranking data, the country with the most startups in the world is the United States with 69,565 companies, followed by India

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Fintech News

Emtek acquires majority shares in Bank Fama

Emtek Group, as shareholder of Grab Teknologi Indonesia (GTI) and Bukalapak, will acquire 93% of PT Bank Fama Internasional’s shares through its subsidiary, PT Elang Media Visitama (EMV) by the end of 2021. Established in 1993, Bank Fama, has assets

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Macro News

OJK reports growth in credit disbursement and credit quality

The Financial Services Authority (OJK) recorded that the banking industry’s credit disbursement grew by 2.21% year-to-year, and reached US$ 39.5 billion (IDR 5,653 trillion) as of September 2021. OJK spokesperson, Sekar Putih Djarot, shared that the credit growth indicates stability

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