OJK mandates Indonesian banks to disclose detailed lending rates from October, aiming to increase competitiveness and prevent overcharging.

Indonesia's Financial Services Authority (OJK) has mandated Indonesian banks to publish a detailed breakdown of their lending rates, including margins, starting from October. This new regulation aims to enhance industry competitiveness, increase lending growth, and ensure borrowers aren't overcharged. Banks must report changes in their prime lending rate and provide details on cost of funds, overhead costs, and margin. Non-compliance can lead to fines of up to 15 billion rupiah.

August 27, 2024
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