Indonesia Digest: OJK Grants New P2P Licenses; IDX, State Health Agency Tie Up

Four fintech P2P lending startups have obtained business licenses from the country’s Financial Services Authority (OJK), while IDX, in a separate development, has collaborated with the national healthcare agency BPJS Kesehatan to exchange information on companies that are willing to go public.

Four fintech P2P lending startups get OJK approval

Four fintech lending startups such as Investree, Amartha, Dompet Kilat, and KIMO, have obtained business licenses from the country’s Financial Services Authority (OJK), the companies said in a joint statement on Thursday.

The four startups, which are members of The Indonesian Fintech Lenders Association (AFPI), officially received a business license to operate in the country.

In total, that takes the total number of fintech lending startups to have obtained OJK’s business licenses to five. Sinarmas-backed Danamas became the country’s first P2P lending startup which received the license in 2017.

According to OJK data, Indonesia has 113 registered P2P lending startups, and five of them have obtained a business license to operate so far.

IDX ties up with BPJS Kesehatan for data exchange

The Indonesia Stock Exchange (IDX) has collaborated with national healthcare agency (BPJS Kesehatan) to exchange data, aiming to deepen the financial market, the company said in a statement.

BPJS Kesehatan will support IDX to provide data and information on companies who want to launch their own initial public offering (IPO). In exchange, IDX will help BPJS to socialize and promote national healthcare to the companies listed on the bourse.

The partnership will also extend to educate the workforce on the financial and investment literacy on stocks and mutual funds.

IDX director I Gede Nyoman Yetna Setia said with the partnership with BPJS, the bourse expects to increase the number of investors and the companies to go public.

The bourse targets to have 75-100 IPOs this year, an increase from last year’s number of 35.