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Indonesian lenders reject cartel claims, say rate cap was regulator’s order

By Roffie Kuniawan ( September 12, 2025, 07:01 GMT | Insight) -- Almost all 97 Indonesian online lenders accused of colluding on interest rates told the country's antitrust regulator they only followed orders from the Financial Services Authority when they adopted a 0.8 percent daily cap. At a preliminary hearing on Thursday, the companies dismissed the cartel allegations against them as baseless and urged the commission to drop it.Indonesia’s online lenders have formally rejected allegations of collusion, telling a preliminary hearing in Jakarta on Thursday they were only following orders from the financial regulator when they adopted a 0.8 percent daily interest-rate cap....

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