The Alternative Dispute Resolution Institution for the Financial Services Sector (LAPS SJK) is an out-of-court dispute resolution institution established on 22 September 2020 by Self-Regulatory Organizations (SROs) and associations within the financial services sector.
In carrying out its activities, LAPS SJK obtained its operational license from the Financial Services Authority (OJK) on 29 December 2020 and officially commenced operations on 1 January 2021. As the sole Alternative Dispute Resolution Institution (LAPS) in the financial services sector to receive an operational license from the OJK, LAPS SJK replaced the roles and functions of the six previously existing LAPS institutions in the financial services sector (namely BAPMI, BMAI, BMDP, LAPSPI, BAMPPI, and BMPPVI), while also expanding its scope to cover dispute resolution in the fintech sector.