KPPU is urged to issue recommendations to OJK to strengthen oversight of online lending industry.
Indonesia Competition Commission (ICC or KPPU) has ruled that 97 companies in the peer-to-peer (P2P) lending, or online lending (pinjol), sector were involved in collusion to set lending interest rates for consumers.
For violating Article 5 of Law No. 5 of 1999, KPPU imposed fines totalling IDR 755 billion.
Deswin Nur, Head of Public Relations and Cooperation at KPPU, said the ruling was delivered during a Commission Council hearing in Jakarta on Thursday, 26 March 2026, following an enforcement process that began in 2023.
“This decision marks the conclusion of one of the largest competition cases ever handled by KPPU, both in terms of the number of reported parties and the breadth of the industry directly affecting the public,”
Deswin said in a statement last week.
Based on evidence and facts presented during the hearings, the Commission Council found that the 97 online lending firms had agreed to set interest rates significantly above market equilibrium levels.
In addition to imposing fines on dozens of companies, the Commission also stated that KPPU should issue recommendations to the Financial Services Authority (OJK) to optimise supervisory functions over the online lending industry.
The following are five of the 97 online lending firms facing the largest fines:
- PT Pembiayaan Digital Indonesia (AdaKami): IDR 102,300,000,000
- PT Pintar Inovasi Digital (AsetKu): IDR 100,900,000,000
- PT Kredit Pintar Indonesia (Kredit Pintar): IDR 93,600,000,000
- PT Indonesia Fintopia Technology (Easycash): IDR 49,100,000,000
- PT Amartha Mikro Fintek (Amartha): IDR 48,800,000,000
Deswin added that the fines imposed on the 97 companies had taken into account various aggravating and mitigating factors, including the cooperative stance of the firms involved and the management of the fintech lending association AFPI during the 2019 period. (KR/ZH).
Source: IDN Financials
