In a statement received here on Monday, she said that prioritizing protection is necessary because the Indonesian community lacks comprehensive literacy on online lending rules, which leads to many people getting trapped and ending up in a difficult situation.
"Education is an important thing for the community to protect them so that they are not trapped in a condition of failing to repay the loan," she added.
For this reason, she emphasized the importance of education, dissemination of information, regulatory protection, and strict supervision so that people can make wise decisions when availing online loan services.
These steps, she explained, are aimed at making people understand the rules of online lending that is safe and appropriate to their economic situation.
She also highlighted that the OJK must be firm in enforcing regulations that ensure that online loan consumers are limited in terms of methods and numbers.
Maharani then quoted 2023 OJK Fintech Lending Statistics data, which found that Generation Z and millennials dominated online loan customers, accounting for 54.06 percent, or Rp27.1 trillion (around US$1.67 billion), of them.
"We must pay attention and protect them. They are future leaders of the nation that must be protected from problems like this," the DPR Speaker said.
Furthermore, she urged the government and other authorized parties to supervise peer-to-peer lending companies to ensure the services they provide are legal.
According to her, lending services must provide great benefits to the community and support economic growth that is more inclusive and sustainable.
Earlier, an OJK official, Agusman, said that the draft OJK regulation on peer-to-peer lending, which supports the relaxation of the maximum productive financing limit, is currently at the stage of requesting inputs from the public.
In the draft regulation, the maximum productive financing limit is planned to be adjusted from Rp2 billion (around US$123,506) to Rp10 billion (around US$617,530).
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Translator: Melalusa Susthira, Raka Adji
Editor: Rahmad Nasution
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