Licensing for Islamic P2P in Indonesia still unclear as deadline for registration looms
JAKARTA – There is still uncertainty in the licensing process for Islamic peer-to-peer (P2P) operators in Indonesia as the deadline for the first batch of applications looms on October 5.
Indonesia’s Financial Services Authority (OJK) will only issue licenses to Islamic P2P operators following recommendation by the national-level Shariah committee, the Dewan Syariah Nasional-Majelis Ulama Indonesia (DSN-MUI), Hendrikus Passagi, the OJK director of Fintech Supervision and Licensing Arrangement told Salaam Gateway.
However, Ronald Wijaya, chairperson of industry body the Indonesia Shariah Fintech Association (AFSI), told Salaam Gateway discussions on the exact process are still ongoing.
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