Regulatory AlertsOJK Regulation No. 29 of 2024 on Alternative Credit Scoring (PKA)
The Financial Services Authority (OJK) issued Regulation No. 29 of 2024 to establish licensing and supervision requirements for Alternative Credit Scoring (PKA) entities under the Financial Sector Development and Strengthening Act. This regulation defines institutional and governance standards, operational procedures, and compliance obligations for Innovative Credit Scoring services. It further mandates specific reporting mechanisms for annual business plans and outlines procedures for the suspension or revocation of business licenses.
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