OJK Sanctions Two Fintech Firms, AFTECH Responds with Governance Measures

Regulatory Action Against Non-Compliant P2P Lending

The Financial Services Authority (OJK) has imposed sanctions on two Peer-to-Peer (P2P) Lending companies, PT Dana Syariah Indonesia (DSI) and PT Crowde Membangun Bangsa (CMB), in October 2025. This regulatory action underscores OJK's commitment to maintaining compliance within Indonesia's rapidly evolving fintech sector.

Industry Response and Governance Measures

Pandu Sjahrir, Chairman of the Indonesian Fintech Association (AFTECH), responded to the OJK's sanctions by highlighting the association's efforts to establish and enforce good corporate governance among its members. He emphasized that AFTECH has been proactive in removing members that fail to comply with the established code of ethics and governance framework. The association has been working closely with OJK to ensure that non-compliant companies are appropriately addressed.

Coordination Between AFTECH and OJK

Pandu Sjahrir revealed that AFTECH has maintained a close coordination with OJK regarding the handling of P2P lending companies that violate the code of ethics. This collaboration includes discussing the imposition of sanctions by OJK against non-compliant firms. Sjahrir noted that AFTECH typically works well with OJK to address members that do not adhere to the association's code of ethics and governance standards.

Implications for Indonesia's Fintech Sector

The OJK's action against DSI and CMB, coupled with AFTECH's response, highlights the ongoing efforts to strengthen regulatory compliance and industry self-regulation in Indonesia's fintech industry. As the sector continues to grow, the collaboration between regulatory bodies like OJK and industry associations like AFTECH will be crucial in maintaining a balanced approach between fostering innovation and ensuring consumer protection.