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The Financial Services Authority (OJK) in Indonesia has sounded an alarm regarding the increasing prevalence of online loans, commonly referred to as ‘pinjol‘ within the country, among the nation’s younger generation. These youthful demographics are increasingly resorting to digital borrowing to finance their lifestyles.
However, paradoxically, Generation Z and millennials are also emerging as the largest contributors to the growing burden of non-performing loans within the realm of financial technology companies.
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