PT Lunaria Annua Teknologi is the owner of KoinWorks who delivers financial technology services, peer to peer lending (P2P Fintech Lending), authorized by Direktorat Kelembagaan and IKNB product Otoritas Jasa Keuangan (OJK) with registration number: S-1862/NB.111/2017.

Law Protection For Borrowers

KoinWorks won’t change or suggest changes to the terms and conditions of lending and borrowing agreement that will disadvantage the borrowers.

KoinWorks is not allowed to expose borrowers’ private data, except the information that is required by law or jurisdiction.

Usury Law

Usury Law will limit how much fee and interest that can be applied to the borrowers.

We understand that usury is a major concern for every business and person in the world.

KoinWorks does not have the rules about usury temporarily.

Peer to Peer Finance Doesn’t Have Special Law in Indonesia

P2P lending is a proven business model that has been tested for at least 10 years in the world.

In Indonesia P2P lending is categorized as a new business model.

So OJK is still perfecting the rules and law to protect this business model in Indonesia.

In our current operation, we have designed our own products and processes as the established regulation in Indonesia.

In the future, the regulator may apply new and more laws / rules for the peer to peer finance industry and we will support it.

Everybody who is using P2P lending service must be aware that new rules will increase the cost and more difficulty on our operations.

Debt Collection and Data Processing & Usage Regulation

We work with the current generation of technology and depend on user personal / business data to do more efficient business, delivering more affordable and accessible products, as known as KYS (Know Your Customer).

We use the data to support our borrower qualification and government requirements for legal purposes.

We never use the data for other purposes except to deliver valuable services to our customers.

Government may add more rules and regulations about data usage and processing in the future and it will have a negative impact on our operation.

In other situations, we need to cooperate with the government in a criminal investigation. If the government needs our data to help them investigate the case.

This cooperation may require us to give a part of personal or business data of our users that were involved in the investigation.

We are Publicly Available For Indonesia Market

Our platform currently only serves borrowers in Indonesia. Our current operational area includes: Jakarta, Depok, Tangerang dan Bekasi. 

If you are a lender domicile outside of Indonesia, you must be aware that fintech law in your country and Indonesia may be different.

This will result in unexpected cases, such as taxes, terms & conditions, laws and others.

We currently won’t be responsible and won’t obey laws outside of Indonesia.