Positions TKA for P2P Lending Companies – Technology is getting more and more advanced every day. The presence of technology now makes our lives easier and faster. Of course this is a good change to make people’s lifestyles in the future much better, especially in the financial sector. Now anyone can send money without the need to go to a bank or borrow money easily, only through online or commonly known as fintech peer-to-peer (P2P) lending.

Fintech P2P lending currently provides easy access to people who are still finding it difficult to get loan funds and for MSME actors who need capital for business development.

On June 29, 2022. The Financial Services Authority (OJK) information Financial Services Authority Regulation (POJK) No. 10/POJK.05/2022 concerning Information Technology-Based Co-Financing Services. The regulation informs important provisions regarding P2P Lending Companies such as: Amount of paid-up capital, Form of Provider and also includes aspects regarding the use of Foreign Workers (TKA) in P2P Lending Companies.

Below, we will discuss in detail the use of foreign workers (TKA) for P2P Lending Companies as regulated in 10 /POJK.05/2022.

What is fintech lending/peer-to-peer lending/P2P lending?

According to OJK Regulation No.77/POJK.01/2016, fintech lending/peer-to-peer lending/P2P lending is a service to borrow money in rupiah currency directly between creditors/lenders (lenders) and debtors/borrowers (recipients loans) based on information technology. Fintech lending is also known as Information Technology-Based Lending and Borrowing Services (LPMUBTI).

Can P2P lending companies use foreign workers (TKA)?

Operators may use foreign workers with the following criteria:

1. The use of foreign workers is prohibited to exceed a period of 3 (three) years for each foreign worker for one term of office and cannot be extended; and
2. It is forbidden to be employed other than in the field of Information Technology as an expert with one level below the Board of Directors or as a consultant

Obligations of P2P lending companies in using TKA?

Operators who employ foreign workers as referred to in paragraph (1) Part Three Utilization of Foreign Workers in the Regulation of the Financial Services Authority of the Republic of Indonesia Number 10/POJK.05/2022 concerning Information Technology-Based Joint Funding Services, must report to the Financial Services Authority using format 5 as contained in the Attachment which is an integral part of this Financial Services Authority Regulation no later than 20 (twenty) working days after the foreign worker is employed by attaching the following documents:

1. Curriculum vitae of foreign workers employed using format 3 are listed in the Appendix which is an integral part of this Financial Services Authority Regulation, accompanied by a photocopy of the document describing the area of ​​expertise as referred to in paragraph (2) letter a;
2. Planned annual education and training programs as long as the foreign workers are employed; and
3. Placement plans and areas of work that are the responsibility of foreign workers.

The operator employing foreign workers as referred to in paragraph (1) Part Three Utilization of Foreign Workers in the Regulation of the Financial Services Authority of the Republic of Indonesia Number 10/POJK.05/2022 concerning Information Technology-Based Joint Funding Services must:

1. Organizing knowledge transfer activities from foreign workers to employees of the Operator; and
2. Appoint at least 1 (one) Indonesian worker as a companion for 1 (one) foreign worker.

Position of foreign workers – Member of the Board of Directors

1. In POJK No. 10/POJK.05/2022 also stipulates that P2P Lending directors have at least 2 members of the board of directors and are prohibited from holding concurrent positions in other companies except as members of the board of commissioners for at most 3 companies other than the Operator. The POJK aims to support the growth and business development of technology-based financial services institutions.
2. Proof of work competency certificate from a professional certification agency in the field of financial technology registered with the Financial Services Authority for the Board of Directors and the Board of Commissioners;
3. For foreign nationals (foreigners) who are directors of P2P lending, this POJK is also required to have the ability to speak Indonesian.

This the information regarding P2P Lending Companies, positions for foreign workers. Do you have needs and questions related to the use of Foreign Workers (TKA) in P2P Lending Companies?

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