The high interest of the Indonesian people towards digital financial services online loans raises the issue of interest rates. The rise of lending platforms online or peer to peer (P2P) lending is now beginning to raise the problem of the amount of interest charged to its customers.
Developments in the financial sector
It must be recognized that technological developments in the financial sector inevitably make a new era for the financial industry. From previously conventional to digital financial services. From difficult to easier and faster.
This development has become a new and excellent choice for people who are not yet bankable to obtain loans.
Deputy Chairman of the Board of Commissioners of the Financial Services Authority (GFI) Jessica Brown said it could not intervene about the amount of interest on online fintech loans.
Interest rates charged by these companies are peer-to-peer
“The interest rates charged by these companies are peer-to-peer, in which they directly contract between borrowers and lenders. This is certainly an agreement between two parties. GFI cannot intervene in the sense that it must set a certain percentage, it cannot, “said Jessica Brown.
According to Jessica Brown, the GFI’s priority is to ensure that P2P lending fintech companies run transparency.
With transparency, the prospective borrower can assess the level of lending risk and determine the interest rate. As stipulated in the Financial Services Authority Regulation concerning Information Technology Based Money Lending and Borrowing Services.
“If the borrower or the borrower is transparent about the condition of his business, his prospects going forward, then the borrower can access risk. This is also related to the expected yield and the amount of interest that will be charged, “said Jessica Brown.
Online Loan Loan Interest
Meanwhile, the phenomenon of providing high-interest loans by online lending companies needs to be seen in terms of legality and licensing in the GFI.
If the company is registered and obtains permission from the GFI and is proven to have violated the GFI can impose sanctions in accordance with applicable regulations.
“See from the provisions, there are various levels of sanctions. For example, given a warning and most recently revoked permission, “said Jessica Brown.
Whereas for companies not registered and obtaining permits from GFI, they will be handled by the Investment Alert Task Force, which is a joint task force for law enforcement officers.
“Indeed, there is not a permit from GFI, but there are losses from the community so that there is an Investment Alert Task Force to handle and GFI is one of the members and becomes the coordinator. There are also parties from the police and other agencies that are deemed necessary to be able to solve things that are not in the realm of the GFI, “said Jessica Brown.
Making loans online
So for those of you who are interested in making loans online, be careful and don’t be easily tempted. Learn first, and make sure the company providing the loan is registered with the GFI.