OJK Revokes BPR Business Permit, This Is The Reason

Financial Services Authority (photo: Antara)

JAKARTA - The Financial Services Authority (OJK) revoked the business license of PT BPR Sembilan Mutiara which is located at Jalan Diponegoro Number 1, Air Bangis Village, Sungai Beremas District, West Pasaman Regency, West Sumatra Province.

This is in accordance with the Decree of the OJK Board of Commissioners Number KEP-33/D.03/2024 dated April 2, 2024 regarding the Revocation of the Business License of PT BPR Sembilan Mutiara.

The revocation of the business license of PT BPR Sembilan Mutiara is part of the supervisory action carried out by the OJK to continue to maintain and strengthen the banking industry and protect consumers.

On October 30, 2023, the OJK has determined PT BPR Sembilan Mutiara in its Bank Dalam Penhatan supervision status with the consideration that the Health Level (TKS) has an unhealthy predicate.

Then on March 21, 2024, the OJK appointed PT BPR Sembilan Mutiara in its Bank Dalam Resolution supervisory status with the consideration that the OJK had given the Board of Directors, Board of Commissioners and Shareholders of BPR to make restructuring efforts including overcoming Capital and Liquidity issues as stipulated in the Financial Services Authority Regulation Number 28 of 2023 dated December 29, 2023 concerning the Determination of Status and Follow-up to Supervision of the People's Economy Bank and Sharia People's Economy Bank.

However, the Board of Directors, the Board of Commissioners and Shareholders of the BPR, cannot restore the BPR.

Furthermore, based on a copy of the Decree of the Board of Commissioners for the Bank Deposit and Resolution Guarantee Program Number 54/ADK3/2024 dated March 27, 2024 concerning Bank Settlement in the Resolution of PT BPR Sembilan Mutiara, the Deposit Insurance Corporation (LPS) decided not to rescue PT BPR Sembilan Mutiara and asked the OJK to revoke the BPR's business license.

Following up on the LPS request, OJK based on Article 19 POJK above, revoked the business license of PT BPR Sembilan Mutiara. With the revocation of this business license, LPS will carry out the guarantee function and carry out the liquidation process in accordance with Law of the Republic of Indonesia Number 24 of 2004 concerning the Deposit Insurance Corporation and Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector.

OJK appealed to BPR customers to remain calm because community funds at Perbankan including BPR are guaranteed by LPS in accordance with applicable regulations.