In order to enhance national financial inclusion and stimulate credit growth, the Financial Services Authority (OJK) established the Credit Bureau Agency (Lembaga Pengelola Informasi Pengkreditan, or "LPIP") by issuing OJK Reg. 5/2022. LPIP aims to produce diverse, comprehensive, and value-added credit information through the management and development of credit information. Additionally, OJK Reg. 5/2022 is designed to facilitate widespread access to credit, promote responsible lending practices, and ensure financial transparency. To achieve these goals, LPIP utilizes rigorous risk management and efficient data exchange mechanisms. As a result, individuals and businesses gain access to previous inaccessible financial services. This strategic approach not only fosters economic empowerment but also strengthens the entire financial ecosystem. Find out more in our Legal Brief publication for additional insights on this topic