OJK: The Gold Bridge Pinjol Is Closed Because It Doesn't Meet Capital Rules

JAKARTA - The Financial Services Authority (OJK) ensures that peer to peer (LPBBTI / P2P) Lending alias online loan (pinjol) PT Dana Akur Abadi (Gold Bridge) closes, because it cannot meet the minimum capital provisions.

"It is true, the company returned the permit, because it could not meet the capital provisions," said OJK Chief Executive of Financing Institutions, Ventura Capital Companies, Micro Financial Institutions, and Other Financial Services Institutions Agusman, reported by ANTARA, Thursday, December 7.

Thus, Agusman said that there are two loan companies that are returning permits, including the Gold Bridge. For this reason, the number of registered P2P Lending currently amounts to 101 companies.

The OJK stipulates that the fulfillment of the minimum equity of fintechP2P Lending is IDR 12.5 billion which is carried out in stages, namely IDR 2.5 billion in July 2023, IDR 7.5 billion in July 2024, and IDR 12.5 billion in July 2025.

In November 2023, OJK noted that there were 23 P2P Lending organizers who had not met the minimum equity fulfillment provisions of IDR 2.5 billion.

The company has submitted an action plan that contains strategic steps to fulfill minimum equity.

For this reason, the OJK continues to monitor the progress of the realization of the action plan that has received OJK approval, both in the form of capital injection steps from controlling shareholders (PSP) and from new strategic investors, including the option to return business licenses taken by the company.

For P2P Lending which has not met the minimum equity provisions, OJK has issued administrative sanctions in the form of written warnings and continues to encourage organizers to take concrete steps to fulfill a minimum of IDR 2.5 billion as soon as possible.

During November 2023, OJK has imposed administrative sanctions on 12 P2P Lending organizers for violations committed against applicable regulations. The imposition of administrative sanctions consists of fines and warnings or written warnings.

It was noted that P2P Lending's outstanding financing growth in October 2023 continued to increase to 17.66 percent compared to the same period the previous year (year-on-year/yoy) from September 2023 of 14.28 percent (yoy), with a nominal value of IDR 58.05 trillion. The risk rate of credit is aggregated (TWP90) in a maintained position of 2.89 percent from September 2023 of 2.82 percent.