Syarief, Elza (2019) 3rd International Conference on Advances in Business and Law (ICABL). In: LEGAL ANALYSES ON CONSUMER PROTECTION IN PEER TO PEER LENDING IN INDONESIA, 23-24 November 2019, University of Dubai.
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2. 2019 November - Legal Analyses on Consumer (1).pdf - Submitted Version Download (3MB) | Preview |
Abstract
Financial technology (Fintech), particularly Peer to Peer (P2P) Lending is mushrooming in Indonesia. Hence, the Financial Services Authority (Otoritas Jasa Keuangan / OJK) issued a Regulation Number 77 / POJK.01 / 2016 concerning Information Technology-Based Lending and Borrowing Services. This study focuses on the P2P Lending to find out whether the fintech regulation on the P2P Lending is sufficient to provide legal protection to consumers. It adopts a normative legal approach and utilizes the Legal Protection Theory by Philipus M. Hadjon to examine the OJK Regulation on the P2P Lending. It finds that the OJK Regulation has incorporated both preventive and repressive legal protection. Yet, it remains insufficient to protect consumers against illegal Fintech providers. The P2P Lending disputes may be resolved through Alternative Dispute Resolution (ADR). Adjudication is the best mechanism for the P2P disputes. Yet, its process is not entirely online and there is no online adjudication procedure issued by the ADR institutions. Keywords: Consumer Protection, P2P Lending, Fintech, Indonesia
| Item Type: | Conference or Workshop Item (Paper) |
|---|---|
| Subjects: | K Law > K Law (General) |
| Divisions: | School of Law > Law Science |
| Depositing User: | Julfitri |
| Date Deposited: | 30 Jul 2021 02:45 |
| Last Modified: | 08 Sep 2021 08:41 |
| URI: | http://repository.uib.ac.id/id/eprint/3683 |
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