Regulatory AlertsOJK Circular No. 11/SEOJK.01/2024 on Reporting and Requesting Debtor Information via the Financial Information Services System
The Financial Services Authority (OJK) issued Circular No. 11/SEOJK.01/2024 to expand the scope of the Financial Information Services System (SLIK) by adding insurance, guarantee, and technology-based peer-to-peer lending providers as mandatory reporting entities. This regulation broadens the types of debtor data reported to include insurance coverage, guarantee data, and P2P lending information, while also updating reporting guidelines, reference codes, and technical requirements for data transmission. The circular officially repeals the previous 2021 circular, with the new reporting framework taking effect for data positions starting in October 2024.
Regulation /
Regulation Search / Reporting and Requesting Debtor Information via the Financial Information Services System
Sector: Banking
Sub-Sector: Other Regulations
Type of Regulation: OJK Circular
Regulation Number: 11/SEOJK.01/2024
Effective Date: 10/2/2024
Appendix 1 SEOJK 11-SEOJK.01-2024 Reporting and Requesting Debtor Information via the Financial Information Services System.pdf Abstract SEOJK 11-SEOJK.01-2024 Reporting and Requesting Debtor Information via the Financial Information Services System.pdf FAQ SEOJK 11-SEOJK.01-2024 Reporting and Requesting Debtor Information via the Financial Information Services System.pdf
Page Content
OJK Circular Number 11/SEOJK.01/2024 regarding Reporting and Requesting Debtor Information via the Financial Information Services System
ABSTRACT
In accordance with the development direction of the Financial Information Services System (SLIK), the OJK expands the scope of Reporters and reported data to include the insurance sector, guarantee sector, and technology-based peer-to-peer lending services (LPBBTI).
In connection with the addition of Reporters, SLIK is expected to provide more comprehensive Debtor Information to support Financial Institutions (LJK) in the process of fund provision analysis, credit or financing risk management and/or insurance or guarantee risk, as well as other activities to support the implementation of business activities at LJK.
Regarding this matter and to increase the effectiveness and efficiency of SLIK implementation, adjustments to regulations regarding Reporting and Requesting Debtor Information via the Financial Information Services System are required.
The legal basis for this OJK Circular is Law No. 21 of 2011 as amended by Law No. 4 of 2023 and POJK No. 18/POJK.03/2017 as amended several times, lastly by POJK No. 11 of 2024.
The main points of new regulations and/or adjustments in this SLIK OJK Circular are as follows: a. Addition of Mandatory SLIK Reporters, namely Insurance Companies, Sharia Insurance Companies, Guarantee Companies, Sharia Guarantee Companies, and Technology-Based Peer-to-Peer Lending Service Providers (LPBBTI). b. Expansion of the scope of debtor reports in connection with the addition of Reporter types, namely coverage data, guarantee data, and LPBBTI data. c. Expansion of the scope of debtor information. d. Adjustment of reporting guidelines and reference codes. e. Adjustment of data communication device and network requirements. f. Addition of mechanisms for requesting Debtor Information via host-to-host.
NOTE
This OJK Circular takes effect on the date of establishment, namely October 2, 2024.
Upon the effectiveness of this OJK Circular, OJK Circular No. 3/SEOJK.03/2021 regarding Reporting and Requesting Debtor Information via the Financial Information Services System is repealed and declared invalid, except for Appendix I of OJK Circular Number 3/SEOJK.03/2021 regarding Reporting and Requesting Debtor Information via the Financial Information Services System, which remains valid until the submission of Debtor Reports for data positions in September 2024.
Furthermore, Reporters submit Debtor Reports starting from data positions in October 2024 in accordance with the guidelines for compiling Debtor Reports in Appendix I, which is an integral part of this OJK Circular Number 1/SEOJK.03/2024.
Appendix I: 286 pages; Appendix II: 1 page; Appendix III: 4 pages; Appendix IV: 2 pages; Appendix V: 5 pages; Appendix VI: 1 page; and Appendix VII: 4 pages.