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ARTICLE · 07 JUNE 2023

Guide To FinTech Law – Indonesia

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Does your jurisdiction regulate Fintech services under the traditional Financial Services laws or does it have any ad hoc regulatory frameworks for fintech services? (Financial Services Laws/Ad Hoc Framework/Hybrid)

IndonesiaTechnology
Marshall Situmorang
Marshall Situmorang
Audria Putri
Audria Putri
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Q: Does your jurisdiction regulate Fintech services under the traditional Financial Services laws or does it have any ad hoc regulatory frameworks for fintech services? (Financial Services Laws/Ad Hoc Framework/Hybrid)

A: Generally, financial technology ("Fintech") companies in Indonesia are regulated and supervised by the Financial Service Authority (Otoritas Jasa Keuangan or "OJK") and Bank of Indonesia ("BI"). OJK is the authority that supervises the peer-to-peer ("P2P") lending companies, while BI supervises the payment service providers and electronic money companies.

Q: Make a list of fintech services that may obtain a license in your jurisdiction?

A: As there are three different authorities that supervise fintech activities, please find below, the list of fintech activities and the relevant authorities having jurisdiction to issue the licenses:

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