Indonesian court overturns record $45m online lending cartel fines
By Roffie Kurniawan ( October 26, 2026, 09:29 GMT | Insight) -- A Jakarta court has overturned a record 755 billion rupiah ($45 million) in cartel fines imposed on 97 Indonesian online lenders, finding that an industry-wide interest-rate ceiling followed instructions from the country's financial regulator rather than an unlawful agreement among competitors. The court also found that the ceiling did not constitute price fixing, that conventional and Sharia-compliant lending belonged to separate markets and that there was insufficient evidence of an agreement among lenders. The Indonesian Competition Commission told MLex on Monday that it was studying the judgment and had not decided whether to challenge it. A Jakarta court has overturned a record 755 billion rupiah ($45 million) in fines imposed on 97 online lenders in Indonesia for allegedly fixing interest rates, finding that the industry's lending-rate ceiling followed instructions from the financial regulator rather than an unlawful agreement among competitors....
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