Regulatory AlertsProcedures and Mechanisms for Submission of Financing Transaction Data and Reporting by Information Technology-Based Joint Financing Service Providers (LPBBTI)
The Indonesian Financial Services Authority (OJK) issued Circular Letter 1/SEOJK.06/2024 to mandate that Information Technology-Based Joint Financing Service Providers (LPBBTI) submit financing transaction data and periodic reports to the OJK's fintech lending data center. The regulation requires real-time data submission, monthly and audited annual financial reports, and incident reports, all delivered via electronic systems with strict deadlines. Transitional provisions allow for testing from February to June 2024, with full compliance obligations commencing on July 1, 2024.
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