News Snapshot:
Authors: Raissa Richka Jonah and Trigaya Ahimsa, Universitas Indonesia In line with the Indonesian government’s goal to build a strong financial sector, the Indonesian Financial Services Authority (OJK) recently enacted regulation concerning Consumer and Public Protection in the Financial Services Sector (POJK 6 of 2022). The POJK came into force on 18 April 2022, but micro-financial institutions are exempted for the next five years. The enactment of the new POJK could majorly update the OJK’s stated goal of maintaining a stable and transparent financial sector while protecting consumers and society. Protecting the public interest was a concern that gave rise...
