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Indonesia regulator concedes weak oversight of online lenders in cartel case

By Roffie Kuniawan ( October 14, 2025, 10:52 GMT | Insight) -- Indonesia’s financial services regulator acknowledged at an antitrust hearing that it had limited oversight of online lending rates before 2023, as the country’s competition authority began hearing testimony in a case accusing nearly 100 lenders of fixing interest-rate caps from 2018 to 2024. A senior official said the Financial Services Authority, or OJK, only began setting its own rate ceilings in late 2023 after the industry’s self-regulatory group, the Indonesian Joint Funding Fintech Association, had led the process for several years.Indonesia’s financial services regulator acknowledged at an antitrust hearing that it had limited oversight of online lending rates before 2023, as the country’s competition authority began hearing testimony in a case accusing nearly 100 lenders of fixing interest-rate caps....

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