Tag "OJK"
OJK Tightens Crypto Oversight with New Sandbox Requirement
The Indonesian Financial Services Authority (OJK) has issued a new mandate requiring all financial institutions introducing new products and services, including those related to crypto assets, to participate in a regulatory sandbox. This innovation testing and development space is aimed
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Indonesian P2P Lender Modal Rakyat Being Sued Over Loan Default Allegations
Indonesian peer-to-peer lending platform Modal Rakyat is facing a lawsuit filed in the South Jakarta district court on 20 February. According to a DealStreetAsia report, the P2P lender has been accused of defaulting on loans, putting the spotlight on its
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OJK Lifts Ban on Akulaku’s BNPL Service in Indonesia
Indonesia’s Financial Services Authority (OJK) has lifted restrictions on the buy now, pay later (BNPL) service offered by fintech firm Akulaku, according to a statement from the company to Tech in Asia. This decision marks a major turnaround for Akulaku,
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OJK Conducts In-Depth Probe on Investree Following CEO’s Misconduct Allegations
The Indonesian Financial Services Authority (OJK) is closely monitoring Investree, a fintech peer-to-peer lending platform, following public reports of potential operational and consumer protection violations. The regulator is conducting an in-depth investigation through direct examinations of Investree, responding to recent
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OJK Unveils New Roadmap to Strengthen and Develop Indonesia’s Sharia Banking
The Financial Services Authority (OJK) of Indonesia has unveiled its Islamic banking roadmap to enhance the resilience and impact of the Sharia banking sector in the country. An update from the previous plan, the 2023-2027 Roadmap for the Development and
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OJK Prohibits Akulaku from Offering BNPL Services
The Financial Services Authority (OJK) of Indonesia has imposed restrictions on Indonesian fintech Akulaku‘s buy now, pay later (BNPL) business. The restrictions are due to the company’s failure to carry out supervisory actions requested by the OJK, namely restrictions on
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OJK: Fintech Hub Launch Will Grow Indonesia’s Fintech Ecosystem
The Financial Services Authority (OJK) will be launching a fintech centre sometime in August as part of their efforts to grow the fintech ecosystem in Indonesia, as well as drive innovations in the field. Indonesia’s Swelling Fintech Sector OJK’s head of
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How is Indonesia Implementing Blockchain Technology?
The Indonesian Central Bank repeatedly warns citizens about cryptocurrencies and cautions to understand the risks, but the country’s regulations are currently fairly open towards digital currencies and blockchain technology. An actual ban only exists for cryptocurrencies in payments, but exchange
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