OVO Finance Indonesia Has Been Banned From Operating By OJK Since October 19

Illustration (Photo: Doc. Antara)

JAKARTA - PT OVO Finance Indonesia is said to have received sanctions from the Financial Services Authority (OJK) through revocation of business licenses. This was revealed from the OJK press statement some time ago.

Through the Decree of the OJK Board of Commissioners Number KEP-110/D.05/2021 dated October 19, 2021, the authorities officially prohibit all forms of OVO Finance Indonesia's business activities.

"The revocation of the business license is effective as of the Decree of the Board of Commissioners of the Financial Services Authority on the date of stipulation," said OJK as quoted by the editorial team on Wednesday, November 10.

OVO Finance Indonesia itself was asked by OJK to settle rights and obligations in accordance with the provisions of the applicable laws. First, the settlement of the rights and obligations of the interested debtor, creditor, and/or funder.

Second, provide clear information to interested debtors, creditors, and/or funders regarding the mechanism for the settlement of rights and obligations. Third, providing an information center and customer complaints within the company.

"It is forbidden to use the words "finance", "financing", and/or words that characterize financing activities or sharia institutions, in the name of the company," said OJK.

For information, PT OVO Finance Indonesia is a multi-finance company owned by the Lippo Group, having its address at Lippo Kuningan Building, 17th Floor, Unit D, Jalan HR. Rasuna Said Kav. B-12 RT. 017 RW. 07, Karet Kuningan, Setiabudi, South Jakarta.