scholarly journals LEGAL PROTECTION OF CONSUMERS ON FINTECH-BASED BUSINESS LOANS FOR SMALL AND MEDIUM ENTERPRISES (UMKM)

2020 ◽  
Vol 1 (2) ◽  
Author(s):  
Mellisa Rahmaini Lubis
Keyword(s):  
Venture Capital ◽  
Financial Institutions ◽  
Consumer Protection ◽  
Financial Services ◽  
Service Providers ◽  
Small And Medium Enterprises ◽  
Legal Protection ◽  
Services Sector ◽  
Medium Enterprises ◽  
Legal Consequences

Consumers loses have occurred in the practice of Fintech-based loans by non-bank financial institutions. The reports of losses arising from Fintech transactions has increased. This is because many Fintech organizers have not received permission from the OJK but are still able to conduct business activities in Indonesia. The problem in this study is: How is the supervision by the Financial Services Authority (OJK) of non-bank financial institutions providing fintech-based venture capital lenders for MSMEs? And how is the legal consequences of fintech-based business capital loan services for MSME entrepreneurs. The study used normative legal approach and the data analyzed by descriptive qualitative.          The results of this study indicate that supervision by the OJK of non-bank financial institutions providing fintech-based venture capital lenders for SMEs as a form of legal protection to consumers. It is carried out in the form of preventive and repressive protection. Preventive protection is implemented by enacting OJK Regulation Number 77 / POJK.01 / 2016, OJK Circular Letter Number 18 / SEOJK.02 / 2017 and OJK Regulation Number 1 / POJK.07 / 2013 concerning Consumer Protection in the Financial Services Sector. Repressive protection is by applying sanctions against fintech organizers who commit violations in the form of written warnings and fines; restrictions on business activities; and revocation of permission. The legal consequences arising from fintech-based business capital loan services for SMEs to fintech providers are required to improve standards and meet consumer protection aspects. The legal consequence for MSMEs is the potential for fraud and misuse of consumer data by Fintech service providers.

scholarly journals PERLINDUNGAN HUKUM BAGI NASABAH PENGGUNA INTERNET BANKING

GANEC SWARA ◽  
2019 ◽  
Vol 13 (2) ◽  
pp. 207
Author(s):  
ALINE FEBRIANY LOILEWEN ◽  
TITIN TITAWATI
Keyword(s):  
Risk Management ◽  
Consumer Protection ◽  
Financial Services ◽  
Service Sector ◽  
Legal Protection ◽  
Internet Banking ◽  
Electronic Information ◽  
Customer Complaints ◽  
Services Sector ◽  
Financial Services Sector

  This study aims to examine and analyze how the legal protection and supervision of the banking world for customers using internet banking facilities.  This study uses a form of normative legal research, namely research that is based on written rules and legislation and various literature related to the problems that will be discussed in this study.   Some forms of legal protection for customers using internet banking facilities are the existence of the Financial Services Authority Regulation No.38 / POJK.03 / 2016 concerning Application of Risk Management in the Use of Information Technology by Commercial Banks (POJK IT Risk Management). The existence of Article 1 number 12 of Law No. 11 of 2008 concerning Information and Electronic Transactions (UU ITE), electronic signatures are signatures consisting of electronic information that is attached, associated or related to other electronic information used as a verification and authentication tool . Another thing that can be done by customers who use internet banking facilities is to conduct customer complaints. Customer complaints are a manifestation of the protection of rights owned by customers, namely the right to be heard. This right is regulated in Article 4 letter d of Law 8 of 1999 concerning Consumer Protection of the PK Law). Whereas in the financial services sector, there is Article 32 of the Financial Services Authority Regulation No. 1 / POJK.07 / 2013 concerning Consumer Protection in the Financial Services Sector (POJK PK) which stipulates that financial service sector business operators must have and carry out customer service and settlement complaints.  The supervision policy carried out by Bank Indonesia towards banks aims to protect the interests of the community and to maintain the continuity of the bank's business as a trust and as an intermediary institution, the supervision is carried out either directly or indirectly

The Potential of Sharia Fintech in Increasing Micro Small and Medium Enterprises (MSMEs) in The Digital Era in Indonesia

2021 ◽  
Vol 4 (1) ◽  
pp. 23
Author(s):  
Syarifuddin Syarifuddin ◽  
Rahmawati Muin ◽  
Akramunnas Akramunnas
Keyword(s):  
Financial Institutions ◽  
Financial Services ◽  
Technology Development ◽  
Small And Medium Enterprises ◽  
Easy Access ◽  
Muslim Country ◽  
Digital Era ◽  
Savings And Loan ◽  
Islamic Financial Institutions ◽  
Medium Enterprises

The potential for financial technology development or fintech with sharia basis in Indonesia is still quite large. Indonesia as the largest Muslim country in the world, becomes an undeniable potential. The purpose of this research is to know the potential of Fintech in increasing MSMEs in the digital era in Indonesia. This study uses document studies with a literature review approach. The results of this research show that. First, The patterns applied by sharia fintech in dealing with the problems faced by MSMEs in Indonesia include the ability to manage and analyze data in the era of big data, improve technology infrastructure, create transaction systems easily, content-based marketing in terms of digital marketing, establish cooperation, collaboration, and investment with relevant stakeholders, and innovation of fintech products. Second, The potential of Sharia Fintech in increasing MSMEs in the digital era in Indonesia, MSMEs have been using many applications and cooperating with banks and sharia Savings and Loan Cooperatives, so as to provide easy access to various types of bank financial services and savings and loan cooperatives, now financial institutions are able to reach all MSMEs to remote areas, Sharia Fintech has opened access to business financing more easily and quickly from banking institutions and other Islamic financial institutions.

scholarly journals Upaya Penyelesaian Sengketa atas Gagalnya Pengisian Saldo (Top Up) yang dialami Pengguna Kartu Tap Cash Bank Negara Indonesia

2020 ◽  
Vol 7 (1) ◽  
pp. 53-61
Author(s):  
Rahmadi Indra Tektona ◽  
Mardi Handono ◽  
Regina Yurisprastita Jufri
Keyword(s):  
Consumer Protection ◽  
Financial Services ◽  
Legal Protection ◽  
Electronic Money ◽  
Services Sector ◽  
Deductive Method ◽  
Sector Analysis ◽  
The Republic ◽  
Materials Used ◽  
Laws And Regulations

Writing aims to find out the effort to resolve disputes for Tap Cash BNI card users who have failed to top up, which results in losses to consumers. The focus of the problem is how to resolve disputes between the banks as Tap Cash card issuers and consumers of electronic money users. This research begins by reviewing various laws and regulations which form the basis of legal protection for card users, for this reason, it is used normative juridical research, by reviewing the applicable laws and regulations. the author also uses the concept of the rule of law which is obliged to provide legal guarantees. In the matter of efforts to resolve disputes for consumers using the BNI Tap Cash card, the concept of legal protection also applies based on the Law of the Republic of Indonesia Number 8 of 1999 concerning Consumer Protection and Financial Services Authority Regulation Number: 1 / POJK.07 / 2013 concerning Consumer Protection of the Financial Services Sector. Analysis of legal materials used is the analysis of legal materials with a deductive method which is a research method based on general concepts to provide concrete explanations of specific legal issues, data is collected through seminars, articles, and interviews and analyzed qualitatively. Based on the results of research conducted on the problem, it was found several forms of settlement efforts provided by the BNI bank namely the resolution of disputes outside the court and the resolution of disputes through the court.

scholarly journals Standard Contract on Banking Sector: Regulation and Description in Internal Banking Regulations

2021 ◽  
Vol 10 (2) ◽  
pp. 251
Author(s):  
Desak Putu Dewi Kasih ◽  
Putu Devi Yustisia Utami
Keyword(s):  
Consumer Protection ◽  
Financial Services ◽  
Banking Sector ◽  
Action Plan ◽  
Financial Service ◽  
Conceptual Approach ◽  
Services Sector ◽  
Standard Contract ◽  
Banking Regulations ◽  
Legal Consequences

This study aims to determine the regulations regarding standard contracts in the banking sector after the existence of the authority of the Otoritas Jasa keuangan, to find out the legal consequences of violations of the provisions of standard contracts carried out by banking financial services and to determine efforts to prevent violations of standard contracts by banking financial services. This is normative legal research with with statutory approach and a conceptual approach. The results show that the regulation regarding the standard contract after the existence of the OJK as a financial service consumer protection agency is regulated through the Financial Services Authority Regulation (POJK) No.1/POJK.07/2013 concerning Consumer Protection in the Financial Services Sector and in the Financial Services Authority Circular Letter (SEOJK) No. 13 /SEOJK.07 / 2014 regarding the Standard contract. The legal consequences of violating the provisions of the standard contract are not regulated in the POJK and the SEOJK. When it compared with the provisions of article 18 paragraph (3) of the Consumer Protection Law which explicitly states that violations of article 18 paragraphs (1) and (2) result in standard clauses being null and void, POJK and SEOJK only require financial service actors to make action plan, hence it is deemed to have no clear legal consequences. One of the efforts that must be made by banking financial service actors to prevent violations of the provisions of the standard contract is by making standard contract regulations independently and elaborating them in the internal banking regulations.

scholarly journals DETERMINANTS OF FINANCIAL INCLUSION AND PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES IN NAIROBI CITY COUNTY

2016 ◽  
Vol 1 (3) ◽  
pp. 62
Author(s):  
Elvince Hillary Otiato
Keyword(s):  
Financial Institutions ◽  
Financial Services ◽  
Social Inclusion ◽  
Small And Medium Enterprises ◽  
Financial Inclusion ◽  
Money Transfers ◽  
Resource Levels ◽  
Access And Quality ◽  
And Performance ◽  
Medium Enterprises

Purpose: The general objective of this study was to assess the determinants of financial inclusion and performance of small and medium enterprises in Nairobi City County.   Methodology: The study adopted a descriptive research design.  Findings: Determinants of financial inclusion among the SMEs in Nairobi City County included; access, Quality and usage of various financial services. The study revealed that determinants of performance among the SMEs in Nairobi City County included; product/service costs, volume levels traded, profit margins, human resource levels and efficiency levels. The results also identified technological innovations such as MPESA, Mshwari and Agency banking as the most crucial technology factors which played a crucial part in improving their business. The regression results revealed that there was a direct link between the performance levels of SMEs and financial inclusion. Further, the study findings also revealed that technology included platforms like mobile money transfers, ATMs and agency banking eased and ensured inclusion. This was seen as an integral part of inclusion further enhancing the performance of various SMEs.Unique contribution to theory, practice and policy: This study can be a source of solution to be implemented by government of Kenya and the Central Bank of Kenya to create policies that create room for small and medium enterprises to obtain loans from financial institutions. In addition, the study This study will also create awareness among financial institutions in the importance of usage, access and quality of finances to small and medium enterprises which in turn will enable better performance of enterprises. This will definitely have an effect on social inclusion of citizens and better the economic performance.The aftereffects of the study would also contribute towards filling the gap on the topic. It is trusted that the discoveries of the study will make significant augmentations to the writing in the field of financial inclusion and performance fortifying further interest.

scholarly journals Financial Inclusion And The Growth Of Small Medium Enterprises In Uganda: Empirical Evidence From Selected Districts In Lango Sub Region

2020 ◽  
Author(s):  
Marus - Eton ◽  
Fabian Mwosi ◽  
Constant Okello-Obura ◽  
Abanis Turyehebwa ◽  
Gilbert Uwonda
Keyword(s):  
Financial Services ◽  
Service Providers ◽  
Small And Medium Enterprises ◽  
International Markets ◽  
Financial Inclusion ◽  
Cross Sectional ◽  
Policy Makers ◽  
Correlation And Regression Analysis ◽  
Small Medium Enterprises ◽  
Medium Enterprises

Abstract The growth and failure of small and medium enterprises has been a topic of discussions world over amongst policy makers and researchers. This study was guided by the following objectives: To examine the contributions of Small Medium Enterprises (SMEs), to determine the challenges affecting Small Medium Enterprises, to examine how financial inclusiveness supports the growth of Small medium enterprises and to establish the relationship between financial inclusion and Small Medium Enterprises. The study used a cross sectional research design. Descriptive design was used and supplemented by inferential statistics. Correlation and regression analysis were adopted. The study revealed that financial inclusion is significant in supporting SMEs growth. The study also revealed that cost of acquiring and servicing financial services are high, there is also difficulty in using some of the financial services, and the way financial providers treat financial users, some lacked some degree of respect and dignity. The study recommends that financial providers should continue sensitizing the public on the available financial services beyond credit services, which are common and known. Digital financial service providers should encourage their clientele to use digitalized financial services which are cheap, secure and risk averse. Cost of capital should also be reduced to encourage borrowing while SMEs should innovatively produce goods that can be competitive at both domestic and international markets.

scholarly journals PERLINDUNGAN HUKUM BAGI PEMBERI PINJAMAN ATAS RISIKO KREDIT DALAM PELAKSANAAN PINJAM MEMINJAM UANG BERBASIS TEKNOLOGI INFORMASI (PEER TO PEER LENDING)

2020 ◽  
Vol 6 (2) ◽  
pp. 129
Author(s):  
Indah Kusuma Wardhani ◽  
Fawzia Apriandini
Keyword(s):  
Credit Risk ◽  
Financial Institutions ◽  
Financial Services ◽  
Legal Protection ◽  
Peer To Peer ◽  
Services Sector ◽  
Financial Services Sector ◽  
Peer Lending ◽  
Very High ◽  
Financial Technology

The fastest growing financial technology (fintech) in Indonesia is peer to peer lending, where customers could obtain loans in a simple, easy, and fast way, yet without collateral. However, in practice, peer to peer lending has a very high credit risk because the ability of fintech companies in assessing prospective loan recipients is not as good as other financial institutions. Therefore, preventive and repressive legal protection are needed, especially for lenders, which are regulated in OJK Regulation Number 77/POJK.01/2016 concerning the Implementation of Information Technology-Based Lending and Borrowing and OJK Regulation Number 1/POJK.07/2013 concerning Consumers’ Protection in Financial Services Sector. With the two OJK Regulations, lenders have received sufficient legal protection, but it must be further strengthened, especially in terms of credit risk mitigation.Keywords: Legal Protection for Lenders, Peer To Peer Lending, Credit Risk

scholarly journals Financial Inclusion and the Growth of Small Medium Enterprises in Uganda: Empirical Evidence from Selected Districts in Lango Sub Region

2020 ◽  
Author(s):  
Marus Eton ◽  
Fabian Mwosi ◽  
Constant Okello-Obura ◽  
Abanis Turyehebwa ◽  
Gilbert Uwonda
Keyword(s):  
Financial Services ◽  
Service Providers ◽  
Small And Medium Enterprises ◽  
International Markets ◽  
Financial Inclusion ◽  
Cross Sectional ◽  
Policy Makers ◽  
Correlation And Regression Analysis ◽  
Small Medium Enterprises ◽  
Medium Enterprises

Abstract The growth and failure of small and medium enterprises has been a topic of discussions world over amongst policy makers and researchers. This study was guided by the following objectives: To examine the contributions of Small Medium Enterprises (SMEs), to determine the challenges affecting Small Medium Enterprises, to examine how financial inclusiveness supports the growth of Small medium enterprises and to establish the relationship between financial inclusion and Small Medium Enterprises. The study used a cross sectional research design. Descriptive design was used and supplemented by inferential statistics. Correlation and regression analysis were adopted. The study revealed that financial inclusion is significant in supporting SMEs growth. The study also revealed that cost of acquiring and servicing financial services are high, there is also difficulty in using some of the financial services, and the way financial providers treat financial users, some lacked some degree of respect and dignity. The study recommends that financial providers should continue sensitizing the public on the available financial services beyond credit services, which are common and known. Digital financial service providers should encourage their clientele to use digitalized financial services which are cheap, secure and risk averse. Cost of capital should also be reduced to encourage borrowing while SMEs should innovatively produce goods that can be competitive at both domestic and international markets.

scholarly journals THE ROLE AND AUTHORITY OF THE HALAL PRODUCT ASSURANCE IMPLEMENTING AGENCY (BPJPH) ACCORDING TO LAW NUMBER 33 OF 2014

2021 ◽  
Vol 9 (06) ◽  
pp. 88-92
Author(s):  
Djoko Djumarno ◽  
◽  
Muhammad Arafah Sinjar ◽  
Keyword(s):  
Consumer Protection ◽  
Small And Medium Enterprises ◽  
Job Creation ◽  
Legal Protection ◽  
Product Label ◽  
Advantages And Disadvantages ◽  
Registration Process ◽  
Medium Enterprises ◽  
Administrative Sanctions

The purpose of this study are to understand the legal protection of the halal product label as the role and authority of the Halal Product Assurance Agency (BPJPH) according to Law No.33 of 2014 and the advantages and disadvantages of Halal Product Guarantee after the enactment of Law No. 11 of 2020 concerning Job Creation which has changed some of the provisions of the JPH Law. That the enactment of Law no. 33 of 2014 concerning Halal Product Guarantee requires all products circulating in Indonesia to be halal certified. The presence of Law Number 11 of 2020 concerning Job Creation which changes some of the provisions in the JPH Law. Namely, Micro, Small and Medium Enterprises can get halal certification for free with an effective registration process. The drawback of the Job Creation Law are that the authority to inspect halal products is no longer monopolized by the Indonesian Ulema Council but also the Halal Product Guarantee Agency, there is the elimination of the halal auditor requirement, Article 4A of the Job Creation Law has the potential to violate consumer protection if it does not have strong derivative rules, and the lack of clarity on the administrative sanctions given along with the types of violations.

scholarly journals Financial inclusion and the growth of small medium enterprises in Uganda: empirical evidence from selected districts in Lango sub-region

2021 ◽  
Vol 10 (1) ◽  
Author(s):  
Marus Eton ◽  
Fabian Mwosi ◽  
Constant Okello-Obura ◽  
Abanis Turyehebwa ◽  
Gilbert Uwonda
Keyword(s):  
Financial Services ◽  
Service Providers ◽  
Small And Medium Enterprises ◽  
International Markets ◽  
Financial Inclusion ◽  
Cross Sectional ◽  
Correlation And Regression Analysis ◽  
Small Medium Enterprises ◽  
Medium Enterprises ◽  
The Cost

AbstractThe growth and failure of small and medium enterprises has been a topic of discussions world over among policymakers and researchers. This study was guided by the following objectives: to examine the contributions of small medium enterprises (SMEs), to determine the challenges affecting small medium enterprises, to examine how financial inclusiveness supports the growth of small medium enterprises, and to establish the relationship between financial inclusion and growth of small medium enterprises. The study used a cross-sectional research design. Descriptive design was used and supplemented by inferential statistics. Correlation and regression analysis were adopted. The study revealed that financial inclusion is significant in supporting SME growth. The study further also revealed that the cost of acquiring and servicing financial services is high; there is also difficulty in using some of the financial services, and the way financial providers treat financial users, some lacked some degree of respect and dignity. The study recommends that financial providers should continue sensitizing the public on the available financial services beyond credit services, which are common and known. Digital financial service providers should encourage their clientele to use digitalized financial services which are cheap, secure, and risk averse. The cost of capital should also be reduced to encourage borrowing while SMEs should innovatively produce goods that can be competitive at both domestic and international markets.

Sign in / Sign up

Export Citation Format

Share Document