scholarly journals Fintech Lending: Challenge and Opportunities of the Indonesia’s Loan Unbanked to Develop the Inclusive Financial Industry

2019 ◽  
Vol 3 (2) ◽  
pp. 105
Author(s):  
Pranoto Pranoto ◽  
Munawar Kholil ◽  
Kukuh Tejomurti
Keyword(s):  
Financial Services ◽  
Secondary Data ◽  
Peer To Peer ◽  
Financial Service ◽  
Financial Industry ◽  
Legal Research ◽  
Indonesian Government ◽  
Start Up ◽  
Business Area ◽  
P2p Lending

<p>The aim of this study is to explore and analyze the development of fintech peer to peer lending (fintech) regulation in Indonesia and Indonesia's readiness in facing the fintech industry, especially fintech loans. This study is important since the Indonesian government has begun to ratify fintech as one of the legal financial services in Indonesia. This is a normative legal research, by collecting secondary data including primary, secondary, and tertiary legal materials. The results show that after the Indonesian government approved Fintech as a legitimate financial service in Indonesia, many Fintech Start up companies begin registering their companies, the Indonesian government separate the granting of fintech licenses to the financial services authorities and Indonesian banks according to the types of the fintech, specifically for fintech peer to peer licensing is granted by the financial services authority. Although Fintech P2P Lending can be a prospective business area, there is not infrequently the risk of default by borrowers. The Fintech Provider does not guarantee ongoing loans if they fail to pay. Because the organizer is not a party to a loan agreement made by the lender and the recipient of the loan. there is not infrequently the risk of default by borrowers. The Fintech Provider does not guarantee ongoing loans if they fail to pay. Because the organizer is not a party to a loan agreement made by the lender and the recipient of the loan</p>

ASPEK HUKUM PEER TO PEER LENDING (Identifikasi Permasalahan Hukum dan Mekanisme Penyelesaian)

2020 ◽  
Vol 8 (1) ◽  
pp. 151
Author(s):  
Windy Sonya Novita ◽  
Moch. Najib Imanullah
Keyword(s):  
Financial Services ◽  
Secondary Data ◽  
Legal Aspects ◽  
Peer To Peer ◽  
Financial Service ◽  
Research Approach ◽  
Legal Research ◽  
Financial Service Authority ◽  
Peer Lending ◽  
Teleological Interpretation

<p>Abstract<br />This article aims to describe and analyze the legal aspects of Peer to Peer Lending related to legal issues and settlement mechanism. This type of research is prescriptive normative legal research. This type of research is normative legal research that is prescriptive. The research approach used is vertical and horizontal synchronization level approach. The type of data used in this study is secondary data covering primary, secondary and tertiary legal materials. Data collection techniques used are by study of documents or library materials. Furthermore, the analysis technique used legal material analysis with teleological interpretation methods. Based on this research, the results show that the implementation of Peer to Peer Lending founds several problems including the risk of high interest so that many borrowers fail to pay and improper billing methods. Basically Financial Services Authority has regulated the preventation the risk of Peer to Peer Lending in several rules in Financial Service Authority Regulations Number 77/POJK.07/2016 and Financial Service Authority Regulations Number 18/POJK.07/2018 as guidelines for consumers regarding the complaints service mechanism and its resolution.<br />Keywords: peer to peer lending; risk; consumer complaints service</p><p>Abstrak<br />Artikel ini bertujuan untuk mendeskripsikan dan menganalisis mengenai aspek hukum dalam Peer to Peer Lending berkaitan dengan permasalahan hukum yang timbul serta mekanisme penyelesaiannya. Jenis penelitian ini adalah penelitian hukum normatif yang bersifat preskriptif. Pendekatan penelitian yang digunakan adalah pendekatan taraf sinkronisasi vertikal dan horizontal. Jenis data yang digunakan dalam penelitian ini merupakan data sekunder meliputi bahan hukum primer dan sekunder. Teknik pengumpulan data yang digunakan adalah dengan studi dokumen atau bahan pustaka. Selanjutnya teknik yang digunakan dalam penelitian ini adalah dengan menggunakan analisis bahan hukum dengan metode penafsiran teleologis. Berdasarkan penelitian ini diperoleh hasil bahwa dalam pelaksanaannya Peer to Peer Lending menemukan beberapa permasalahan, diantaranya risiko tarif bunga yang tinggi  sehingga banyak Penerima Pinjaman yang gagal bayar dan cara-cara penagihan yang tidak patut. Pada  dasarnya OJK sudah mengatur mengenai pencegahan risiko P2P Lending dalam beberapa ketentuan yang terdapat dalam POJK Nomor 77/POJK.07/2016 dan POJK Nomor 18/POJK.07/2018 sebagai pedoman bagi konsumen mengenai mekanisme layanan pengaduan konsumen dan penyelesaiannya.<br />Kata Kunci: peer to peer lending; risiko; layanan pengaduan konsumen</p>

scholarly journals Urgensi DSN-MUI Sebagai Otoritas Pengawas Syariah Lembaga Keuangan Syariah

2020 ◽  
Vol 10 (1) ◽  
pp. 22-38
Author(s):  
Marlisa Elpira ◽  
Marli Candra
Keyword(s):  
Financial Services ◽  
Financial Institution ◽  
Secondary Data ◽  
Financial Service ◽  
Islamic Banks ◽  
Legal Research ◽  
Financial Problems ◽  
Supervision System ◽  
Supervisory System ◽  
The Ideal

The existence of a sektoral supervisory system in the financial service sektors may lead to disagreements in solving financial problems, which resulting in inefficiency of the supervision. The ideal Islamic financial institution Supervision system is not only in the operational institution aspect, but also includes oversight of compliance to apply the Islamic Principles in all of financial activities, which should be an integral part of the Financial Services Authority (OJK). By using the normative legal research with secondary data were analyzed qualitatively, the author conclude that the position of DSN-MUI as an separated institution from the OJK have some weaknesses: disagreement between the agency authority to DSN-MUI in understanding Islamic financial problems, there are some fatwas can not be absorbed in legislations language, the violations of Islamic principles, DPS are being bound to the bank because of salary, and the not-binding DSN-MUI fatwas to Islamic Banks directly.  Therefor, the presence of OJK as an institution Financial services authority must be equipped with a compotent shariah supervisory structure. Key Words: sektoral supervisory system; Islamic principles; the financial services authority.   Abstrak: Adanya sistem pengawasan sektoral di sektor jasa keuangan dapat menyebabkan ketidaksepahaman dalam memecahkan masalah keuangan yang terjadi, yang berakibat kepada ketidakefisienan pengawasan tersebut. Sistem pengawasan lembaga keuangan syariah yang ideal adalah mengawasi kegiatan operasional lembaga keuangan secara umum sekaligus mengawasi kepatuhan menerapkan prinsip Syariah dalam kegiatan tersebut, di mana keduanya harus menjadi satu kesatuan yang tidak terpisahkan dalam otoritas jasa keuangan yang Islami. Dengan menggunakan metode penelitian hukum normatif yang menggunakan data sekunder yang dianalisis secara kualitatif, penulis menyimpulkan bahwa kedudukan DSN-MUI sebagai lembaga yang terlepas dari lembaga otoritas di sektor jasa keuangan memiliki beberapa kelemahan: ketidaksepahaman antara lembaga otoritas dengan DSN dalam memahami masalah di sektor jasa keuangan syariah, terdapat fatwa yang tidak dapat diserap dalam bahasa peraturan perundang-undangan, adanya pelanggaran prinsip syariah, terikatnya DPS dengan bank yang diawasi dengan adanya biaya transportasi yang menjadi beban bank syariah terkait, serta tidak mengikatnya fatwa DSN secara langsung terhadap bank-bank syariah. Oleh karena itu, kehadiran OJK sebagai lembaga otoritas jasa keuangan harus dilengkapi dengan struktur pengawasan syariah yang kompeten.

scholarly journals INDONESIAN FINTECH: BUSINESS ECOSYSTEM AND REGULATION

2020 ◽  
Vol 5 (2) ◽  
pp. 277-295
Author(s):  
Sugeng Sugeng ◽  
Clara Ignatia Tobing ◽  
Rona Fajarwati
Keyword(s):  
Financial Services ◽  
Secondary Data ◽  
Peer To Peer ◽  
Social Phenomena ◽  
Business Ecosystem ◽  
Criminal Offenses ◽  
Electronic Transactions ◽  
P2p Lending ◽  
Short Time ◽  
Financial Technology

This article will examine the development of the business ecosystem and regulation of Financial Technology (Fintech) in Indonesia, especially lending through electronic transactions, or peer to peer lending (P2P Lending). Although the Financial Services Authority (OJK) has closed the company's activities, but in a short time other illegal companies have emerged, even in larger numbers. This research uses the doctrinal method with the statutory approach. Secondary data is used to explain of legal and social phenomena related to the research topic.The Fintech industry requires specific provisions governing criminal offenses related to Illegal companies. 

scholarly journals Penerapan Konsep Utilitarianisme Untuk Mewujudkan Perlindungan Konsumen Yang Berkeadilan Kajian Peraturan Otoritas Jasa Keuangan Nomor: 1/POJK.07/2013 Tentang Perlindungan Konsumen Sektor Jasa Keuangan

2019 ◽  
Vol 19 (1) ◽  
pp. 15
Author(s):  
Dwi Edi Wibowo
Keyword(s):  
Consumer Protection ◽  
Financial Services ◽  
Peer To Peer ◽  
Financial Industry ◽  
Fast Process ◽  
Bank Institution ◽  
P2p Lending ◽  
Peer Lending ◽  
Financial Technology

Abstrak Peranan internet dalam teknologi informasi telah digunakan untuk mengembangkan industri keuangan  (financial industry)  melalui modifikasi dan efisiensi layanan jasa keuangan yaitu dikenal dengan istilah Financial Technology atau Fintech. Fintech jenis pinjam-miminjam uang berbasis teknologi atau peer to peer lending (P2P-lending) merupakan jenis Fintech yang tumbuh pesat di Indonesia, kelebihan pinjam meminjam uang melalui layanan P2P-lending lainnya adalah syarat yang sangat mudah dan proses yang cepat dibandingkan meminjam uang melalui Lembaga Bank. Namun kemudahan transaksi yang ditawarkan oleh layanan P2P- lending justru memperlemah posisi dari konsumen. Permasalahan Bagaimanakah Penerapan Konsep Utilitarianisme Untuk Mewujudkan Perlindungan Konsumen Fintech. (Financial Technology) Yang Berkeadilan, Tujuan  untuk mengetahui bagaimanakah penerapan konsep utilitarianisme untuk mewujudkan perlindungan kosnumen fintech ( finansial technology yang berkeadilan . Kata kunci : utilitarianisme, perlindungan konsumen, berkeadilan Abstrak The role of the internet in information technology has been used to develop the financial industry through the modification and efficiency of financial services, known as Financial Technology or Fintech. Fintech borrows money based on technology or peer to peer lending (P2P-lending) is a fast-growing type of Fintech in Indonesia, the advantages of lending and borrowing via other P2P-lending services are very easy conditions and a fast process compared to borrowing money through Bank Institution. But the ease of transactions offered by P2P-lending services actually weakens the position of consumers. Problems How to Implement the Utilitarianism Concept to Realize Fintech Consumer Protection. (Financial Technology) that is just, the aim is to find out how the application of the concept of utilitarianism is to realize the protection of fintech consumers (equitable technology finance. Keywords: utilitarianism, consumer protection, justice 

scholarly journals Emergence of Non-Traditional Financial Service Providers in the Market - A Threat or An Opportunity for the Georgian Banking Industry

2021 ◽  
Vol 4 (2) ◽  
pp. 97
Author(s):  
Tea Kasradze
Keyword(s):  
Financial Services ◽  
Banking Sector ◽  
New Technologies ◽  
Service Providers ◽  
Banking Industry ◽  
Secondary Data ◽  
Financial Service ◽  
Retail Banking ◽  
Financial Industry ◽  
The Impact

Each banking institution has a customer-oriented strategic plan, although the sudden emergence of competition does not allow them to relax. The explosion of new technologies and the rise in consumer demand have been putting pressure on banks since the 2008 recession. Retail banking customers are constantly expecting new, improved, affordable, convenient continuous service from the bank. In an environment of increasingly competitive, innovative financial services, banks need to be able to maintain not only customers but also brand awareness. The emergence of non-traditional financial service providers in the market such as FinTech, NEO Banks, Challenger Banks, BigTech, which reduces the relationship between banks and their customers, completely changes the banking industry. Today we face a new open ecosystem of consumers, traditional banks, FinTech and BigTech companies, regulators, developers, non-banking firms and other players, with customers at the center. Banks will have to significantly change their commercial and operating models to retain customers and remain active players in the market. The presented paper examines the development trends of new players in the financial industry - non-traditional financial service providers and the readiness of the banking industry to respond to these trends. The paper is a study of the impact of digitalization of financial services on the banking sector based on the study and analysis of reports of the various international organizations, local policy documents, reports and regulations of the National Bank, the papers of various researchers and their secondary data. Based on the research, suggestions have been made on how Georgian banks should strategically approach non-traditional providers of financial services to avoid losses, withstand competition and remain active market players.

TUGAS DAN FUNGSI OTORITAS JASA KEUANGAN DALAM SENGKETA PERDATA TERKAIT PERLINDUNGAN HUKUM BAGI KONSUMEN

2019 ◽  
Vol 7 (2) ◽  
pp. 164
Author(s):  
Amanda Athasya ◽  
Yudho Taruno Muryanto
Keyword(s):  
Data Collection ◽  
Financial Services ◽  
Secondary Data ◽  
Analytical Techniques ◽  
Financial Service ◽  
Legal Research ◽  
Financial Service Authority ◽  
Result Show ◽  
Service Institution

<p>Abstract<br />This article describes and examines the problems regarding to how the tasks and functions of the Financial Service Authority in the civil dispute relating to the protection of the law for consumers. This research is normative legal research which is prescriptive. In nature the data used in thi sresearch is secondary data including primary and secondary legal materials. Data collection techniques used is lybrary study and through cyber media, and the analytical techniques is deductive with silogism methods. The result show that the position and the role of the Financial Service Authority in Indonesia is as a independent institution that hold three main authority which is the authority to regulate, monitor and the authority to protect. That three authority must be implemented in such a way that financial sector in Indonesia can<br />be held by regulary, fair, tranparent, and also accountable and also able to manifest financial system that growing sustainably and stable.<br />Keywords: Financial Services Authorit;, Financial Service Institution; The Protection of Consumer</p><p>Abstrak<br />Artikel ini mendeskripsikan dan mengkaji permasalahan bagaimanakah tugas dan fungsi Otoritas Jasa Keuangan dalam sengketa perdata terkait perlindungan hukum bagi konsumen. Penelitian ini adalah penelitian hukum normatif bersifat preskriptif. Jenis data sekunder meliputi bahan hukum primer dan sekunder. Teknik pengumpulan data yang digunakan adalah studi kepustakaan dan melalui cyber media, dan teknik analisis yang digunakan bersifat deduktif dengan metode silogisme. Hasil penelitian menunjukkan bahwa kedudukan dan peran Otoritas Jasa Keuangan di Indonesia adalah sebagai lembaga independen yang memegang kewenangan untuk melaksanakan tiga fungsi atau tugas utama yaitu fungsi pengaturan dan fungsi pengawasan serta fungsi perlindungan. Ketiga fungsi tersebut harus dilaksanakan sedemikian rupa agar sektor keuangan di Indonesia dapat terselenggara secara teratur, adil, transparan dan akuntabel serta mampu mewujudkan sistem keuangan yang tumbuh secara berkelanjutan dan stabil.<br />Kata Kunci: Otoritas Jasa Keuangan; Lembaga Jasa Keuangan; Perlindungan Konsumen</p>

scholarly journals PERAN OTORITAS JASA KEUANGAN TERHADAP PENGAWASAN LEMBAGA KEUANGAN DI INDONESIA

2019 ◽  
Vol 1 (02) ◽  
pp. 177-188
Author(s):  
Annisa Arifka Sari
Keyword(s):  
Capital Market ◽  
Financial Services ◽  
Financial Service ◽  
Legal Basis ◽  
Legal Research ◽  
Services Sector ◽  
Financial Services Sector ◽  
Stable Manner ◽  
The Government

Penelitian ini bertujuan untuk menjelaskan peran Otoritas Jasa Keuangan sebagai lembaga independen dalam melakukan pengawasan terhadap lembaga jasa keuangan di Indonesia serta kewenangan Otoritas Jasa Keuangan yang diatur dalam Undang-Undang Nomor 21 Tahun 2011 tentang Otoritas Jasa Keuangan. Metode yang digunakan dalam penelitian ini adalah penelitian hukum normatif. Dari hasil penelitian dijelaskan bahwa Otoritas Jasa Keuangan adalah lembaga yang independen dan bebas dari campur tangan pihak lain, yang mempunyai fungsi, tugas, dan wewenang pengaturan, pengawasan, pemeriksaan, dan penyidikan terhadap lembaga jasa keuangan seperti perbankan. Dasar hukum dibentuknya Otoritas Jasa Keuangan adalah Undang-Undang Nomor 21 Tahun 2011. Secara kelembagaan, Otoritas Jasa Keuangan berada di luar pemerintah, yang dimaknai bahwa Otoritas Jasa Keuangan tidak menjadi bagian dari kekuasaan pemerintah. Otoritas Jasa Keuangan dibentuk dengan tujuan agar keseluruhan kegiatan di dalam sektor jasa keuangan terselenggara secara teratur, adil, transparan, dan akuntabel; mampu mewujudkan sistem keuangan yang tumbuh secara berkelanjutan dan stabil; serta mampu melindungi kepentingan konsumen dan masyarakat. Otoritas Jasa Keuangan bertugas tidak hanya mengatur dan mengawasi perbankan saja, tetapi juga mencakup pasar modal, perasuransian, dana pensiun, lembaga pembiayaan, serta lembaga jasa keuangan lainnya.    THE ROLE OF FINANCIAL SERVICES AUTHORITY ON SUPERVISION OF FINANCIAL INSTITUTIONS IN INDONESIA This research aims to explain the role of the Financial Services Authority as an independent institution in supervising financial service institutions in Indonesia as well as the authority of the Financial Services Authority as regulated in Law Number 21 of 2011 concerning the Financial Services Authority. The method used in this research is normative legal research. From the research results, it is explained that the Financial Services Authority is an independent institution and free from interference from other parties, which has the function, task and authority to regulate, supervise, examine and investigate financial service institutions such as banks. The legal basis for the establishment of the Financial Services Authority is Law Number 21 of 2011. Institutionally, the Financial Services Authority is outside the government, which means that the Financial Services Authority is not part of the government's power. The Financial Services Authority was formed with the aim that all activities in the financial services sector are carried out in an orderly, fair, transparent and accountable manner; able to realize a financial system that grows in a sustainable and stable manner; and able to protect the interests of consumers and society. The Financial Services Authority is tasked with not only regulating and supervising banking, but also covering the capital market, insurance, pension funds, financing institutions, and other financial service institutions.    

scholarly journals COMMERCIAL BANKS AND THEIR EFFECT ON SMALL AND MEDIUM ENTERPRISES FINANCING IN RWANDA: A CASE STUDY OF KIGALI CITY AND SOUTHERN PROVINCE

AGROFOR ◽  
2021 ◽  
Vol 6 (1) ◽  
Author(s):  
Mutamuliza EULARIE ◽  
Giramata AURORE
Keyword(s):  
Financial Services ◽  
Commercial Banks ◽  
Small And Medium Enterprises ◽  
Financial Industry ◽  
Chi Square ◽  
Southern Province ◽  
Start Up ◽  
Chi Square Test ◽  
The Government ◽  
Medium Enterprises

Commercial Banks worldwide are identified to be one of the key players in the financial industry that have positively affected individuals involved in business, and the economy at large, through the functions they perform in the economy. However, inadequate financing in the activities of Small and Medium Enterprises (SMEs) is still the major constraint faced by people involved in business activities. Even though the Government of Rwanda has made effort to improve the accessibility to credit, entrepreneurs still have some challenges to access financial services in order to improve their businesses. The purpose of this research was to assess the contribution of commercial banks in financing SMEs in Rwanda. A sample of 60 SMEs was selected in Kigali and Southern Province of Rwanda. Data was collected from the respondents through a structured questionnaire. The collected data were analyzed using descriptive statistics such as frequencies and percentage distributions. A Pearson Chi-Square Test was used to analyze the relationship between commercial banks and SMEs in Rwanda. The results indicated that the main purposes of loan application were start-up capital, working capital and expansion of businesses. The results also revealed that there was positive relationship between commercial banks and SMEs in Rwanda. The results revealed as well, that commercial banks in Rwanda played a crucial role in contribution to SME’s economic development and small and medium entrepreneurs who got credit from commercial banks expanded their businesses and increased their income.

scholarly journals An Analysis on Farmer Rights in International Trade Under Indonesian Law

2020 ◽  
Vol 8 ◽  
pp. 200-204
Author(s):  
Imanullah Moch Najib
Keyword(s):  
International Trade ◽  
Legal Protection ◽  
Secondary Data ◽  
Primary Data ◽  
Legal Interpretation ◽  
Legal Research ◽  
Indonesian Government ◽  
Triangulation Method ◽  
Alternative Solutions

The aims of this research were to examine the legal protection on the farmer rights in international trade under Indonesian law. The research was important to provide various alternative solutions over the problem of inabilities of farmer to be a subject of international trade and to review whether the Indonesian Government gave legal protection to farmer rights. It was an empirical legal research, which using primary and secondary data. Primary data was collected from the respondents and informants while the secondary ones were taken from primary and secondary legal materials. The validity of data used sources triangulation method while all of data were analysed by analysis of editing style through legal interpretation. The result showed that Indonesian Government through enactment of its legislation has not been providing the legal protection to the farmer rights in international trade optimally. Moreover, this study was expected to contribute in reforming over legislation that regulates the protection of farmer rights.

scholarly journals Legal Protection Carried Out by the Financial Service Authority in a Dispute between Consumers and Insurance Companies in Indonesia

2018 ◽  
Vol 3 (1) ◽  
pp. 55-61
Author(s):  
Pujiyono ◽  
Sufmi Dasco Ahmad
Keyword(s):  
Dispute Resolution ◽  
Financial Services ◽  
Legal Protection ◽  
Secondary Data ◽  
Analytical Techniques ◽  
Financial Service ◽  
Insurance Companies ◽  
Data Types ◽  
Financial Service Authority ◽  
Litigation Process

This study aims to find out how the form of legal protection carried out by the Financial Service Authority towards consumers who experience disputes with insurance companies in Indonesia. This research is a normative legal research that is the prescriptive approach. The data are taken from secondary data types that consist of primary and secondary legal materials. Data collection techniques used are library studies, and the analytical techniques used are deductive by syllogism method. The result of the study shows that a form of repressive protections is carried out by the Financial Service Authority after a dispute between consumers and insurance services and a legal defense that contains many weaknesses. Settlement of disputes between consumers and Insurance Companies can be done through litigation/ court and non-litigation/ out of court settlement. In the litigation process through the Commercial Court. The non-litigation process that will carried out with the institution/ internal dispute resolution step, limited facilities through mediation that facilitated by Financial Services Authority and finally through the external dispute resolution or the arbitration institution.

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