Indonesian Financial Services Authority bans promotion through text and phone

Indonesian Financial Services Authority bans promotion through text and phone

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Indonesian Financial Services Authority (OJK) say no to product promotion through calls and sms.

Indonesian insurance companies, financial services firms and banks will now have to find new ways to promote their products. A new rule has been introduced by the Financial Services Authority which says that promotions through text messages and telephone calls is against the law.

Indonesian Financial Services Authority

The new move has been taken after many consumers complained of several annoying calls and text messages for loan offers and other promotions. One of the residents who is happy with the development said that the number of text messages and phone calls that he received had become so intense that he considered them as more than spam.

The resident added that if he wants to take a loan, then he would seek professional advice with a good sense of security, instead of a person who keeps spamming him in the day.

The Chairman of OJK Muliaman Hadad in a letter, told the business people in the banking, capital market and non-banking sectors that their product offered through text messages and phone calls were becoming a nuisance for the public.

At present the OJK is having talks with the Communication and Information Ministry to make a memorandum of understanding, so that further action could be taken. The customers will have the facility to make a request to the OJK, asking them to block spammers.

Photo Credits: Story finds