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97 Indonesian online lenders to face hearings soon over alleged cartel

( April 29, 2025, 10:42 GMT | Official Statement) -- MLex Summary: The Indonesian Competition Commission, or KPPU, today announced that it will soon begin hearings on allegations of interest-rate cartel violations involving online lending applications. The antitrust regulator alleged that up to 97 online-lending app providers were involved in monopolistic practices by collectively setting high daily interest rate ceilings. KPPU Chairman M. Fanshurullah Asa said the commission had found evidence of “a joint arrangement” among the providers regarding interest rates during the 2020–2023 period. The statement, in Indonesian, follows:...

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