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CIRCULAR LETTER OF THE FINANCIAL SERVICES AUTHORITY OF THE REPUBLIC OF INDONESIA NUMBER 19/SEOJK.06/2025 CONCERNING THE IMPLEMENTATION OF INFORMATION TECHNOLOGY-BASED JOINT FUNDING SERVICES (SEOJK 19/2025)

SUMMARY:

• SEOJK 19/SEOJK.06/2025 was established to implement the provisions of Article 136 paragraph (3), Article 139 paragraph (3), Article 140 paragraph (3), Article 142 paragraph (12), Article 148 paragraph (8), Article 149 paragraph (3), Article 152 paragraph (5), Article 153 paragraph (9), Article 161 paragraph (2), and Article 171 paragraph (3) Financial Services Authority Regulation No. 40 of 2024 concerning Technology-Based Joint Funding Services (State Gazette of the Republic of Indonesia Year 2024 No. 53/OJK, Supplement to the State Gazette of the Republic of Indonesia No. 121/OJK).
• SEOJK 19/SEOJK.06/2025 regulates:

1. 1. 1. General Provisions, Business Activities of LPBBTI Organizers, Business Activities Based on Sharia Principles, Use of Outsourced Labor, General Meetings of Fund Providers, Information and Warnings on the Operator’s Electronic System, Data and Information Management, Confirmation of Emergency Contact Use, Fund Providers and Fund Recipients, Maximum Funding Limits for Fund Recipients, Funding Disbursement and Repayment Mechanisms, Cooperation in the Context of Funding Disbursement, Credit Scoring, Maximum Economic Benefits, Risk Mitigation Facilities for Users, Funding Quality Levels, Publication of Funding Performance, Agreements, Other Provisions, Transitional Provisions, Closing Provisions.
      2. Scope & Principles of Implementation regulates general provisions, definitions, and principles of implementation of Information Technology-Based Joint Funding Services (LPBBTI), including specific provisions based on Sharia Principles that must comply with fatwas and supervision by the Sharia Supervisory Board (DPS).
      3. Business Activities & Operational Mechanisms cover the provision, management, and operation of the LPBBTI electronic system; identity verification; risk analysis; fund disbursement and collection; and cooperation with partners in accordance with OJK regulations and approval.
      4. User Regulations & Funding Limits establish criteria for fund providers and recipients, funding ratios, maximum funding limits (Rp2 billion or Rp5 billion under certain conditions), and mechanisms for assessing eligibility and credit scoring.
      5. User Protection regulates the obligation to disclose risk information, protect personal data, use emergency contacts, limit economic benefits and penalties (maximum total of 100% of the funding value), and provide risk mitigation facilities.
      6. Transparency & Reporting requires the publication of funding performance, funding quality classification, and reporting of certain collaborations or activities to the OJK on a regular basis.

OTHER PROVISIONS:

• SEOJK 19/SEOJK.06/2025 shall come into force on the date of its enactment.
• SEOJK 19/SEOJK.06/2025 was enacted on July 31, 2025.
• Upon the effective date of this Financial Services Authority Circular, Financial Services Authority Circular No. 19/SEOJK.06/2023 on the Provision of Technology-Based Collective Funding Services is hereby revoked and deemed invalid.

Author:

Yuliana Munthe 

Editor:

Muhammad Arief Ramadhan, S.H. 

Download: 

SEOJK Nomor 19 Tahun 2025.pdf

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