By: Aldia Putra )*
President Jokowi has instructed to take firm action against illegal Online Loans (Pinjol). The public also appreciates President Jokowi’s firmness in accommodating the people’s unrest over the illegal presence of Pinjol.
During the Covid-19 pandemic, many people had financial difficulties, because their merchandise was empty or their salaries were reduced. Economic sluggishness makes them rack their brains, how to find a bite of rice when the money is only loose change? They finally decided to go into debt, unfortunately to the wrong party, namely an illegal online loan (Pinjol).
Lately, there are indeed many Pinjols circulating, especially in the form of applications, making it easier for people to download and borrow money only with their cellphones. However, many do not know that not all Pinjol are registered and have official permission from the OJK. This illegal loan is troubling because the interest rate is too high, thus strangling the borrower.
President Jokowi asked his staff to take firm action against the abuse of Pinjol which is increasingly widespread. The reason is because 68 million Indonesian citizens are borrowers at the fintech company. The circulation of money is also very powerful, reaching 260 trillion. In a sense, there should be no victims of illegal Pinjol that harm the community.
So far, illegal Pinjol has indeed become a stumbling block, because they operate with suffocating interest. There is even the term interest-bearing alias the longer it is not paid off, the greater the interest. Practices like this are like loan sharks, therefore it is natural for them to be eradicated by the government.
In addition, illegal Pinjol also often embarrass borrowers who are late to pay installments. Only a day has been chased via HP. The next day, all of the borrower’s contacts on HP got a message that the borrower must pay off the debt as soon as possible.
Even worse, there is a borrower whose photo has become a meme on social media, so he is very embarrassed, even though the loan is only 1 million. OJK responded to this case and stated that fintech companies could be penalized for violating regulations. There must be no act that embarrass the borrower, and they have really crossed the line.
To respond to President Jokowi’s request, the OJK also responded quickly, by suspending requests for the inauguration of new fintech companies. Currently, there are only 107 Pinjols that have official status and are supervised by OJK. Meanwhile, since 2018, more than 4,000 illegal fintech companies have been cleared by the OJK.
Meanwhile, Kominfo formed a digital forum to discuss the development and updating of digital forums, including discussing Pinjol as well. If there is an illegal Pinjol that is still desperate to operate, the site and its application can be taken down. The goal is not to disturb the public.
Later, a solution will be found on how to prevent the community from being ensnared by the naughty Pinjol. One of them is by borrowing money from an official Pinjol and must be on time when returning credit. They are also expected to borrow for productive things, not for lifestyle. Socialization must also be carried out to the villages, because many of them are caught in illegal Pinjol and Titil banks, and do not know the dangers of interest-bearing.
The police will also clear up illegal Pinjols because they are still desperate to operate even without permission from the OJK. This violation can be criminalized, because setting up a business without a permit will certainly be immediately arrested. In addition, on average, illegal Pinjols send debt collectors who are very fierce and inhumane, so borrowers must be protected.
Illegal borrowing is indeed very disturbing because the interest is high, so it must be eradicated. Appreciation should be given to President Jokowi because he is the only Indonesian President who dares to openly fight illegal Pinjol. People must also be aware of themselves, they should not borrow money from Pinjol if they only want to fulfill their desires and modern lifestyle.
)* The author is a contributor to the Press Circle and Cikini Students
