BPRS Saka Dana Mulia Closed, LPS Reveals Already Paid Customer Funds Of IDR 18 Billion

Photo illustration. (Doc. ANTARA)

The Deposit Insurance Corporation (LPS) said it had paid Rp. 18 billion in customer funds for PT BPRS Saka Dana Mulia in Kudus after the revocation of the bank's business license.

Chairman of the LPS Board of Commissioners Purbaya Yudhi Sadivewa said that he had paid customer funds of Rp. 18 billion out of a total of Rp. 24 billion in payments made in approximately one week after his business license was revoked on April 19, 2024.

"BPRS Saka Dana Mulia's business license was revoked on April 19, 2024, until April 25, 2024, in a week, we have dropped funds to the representative bank, the bank that we assigned was Rp. 18 billion, out of a total deposit of Rp. 24 billion," said Purbaya during a press conference on the Financial System Stability Committee (KSSK) quoted on Saturday, May 4.

Purbaya said that most of the customer funds had been paid in the first wave, just disbursed, while the remaining payment of customer funds would be carried out in the second phase after going through the verification process.

"So the first wave has reached Rp. 18 billion, so one. So in one week, we have transferred most of the customer funds, we just have to disburse them, later we will transfer the rest according to the ongoing verification process," he said.

Previously, the Financial Services Authority (OJK) revoked PT BPRS Saka Dana Mulia's business license at Ruko Pramuka Square Blok A1 & A4 Jl. Pramuka Number 368 Mlati Lor, Bae District, Kudus Regency, Central Java Province because it could not overcome the problem of capital and liquidity.

This decision is oldest in the Decree of the OJK Board of Commissioners Number KEP-36/D.03/2024 dated 19 April 2024 concerning Revocation of PT BPRS Saka Dana Mulia's Business License.

"The revocation of PT BPRS Saka Dana Mulia's business license is part of the supervisory action carried out by the OJK to continue to maintain and strengthen the banking industry and protect consumers," said Head of OJK Central Java Province Sumarjono.

Previously, the OJK on April 10, 2023, had determined PT BPRS Saka Dana Mulia in the Bank's Monitoring status in Restructuring with the consideration that the Health Level (TKS) had a poor predicate.

Furthermore, on January 12, 2024, OJK appointed BPRS Saka Dana Mulia in its bank oversight status in resolution with the consideration that the OJK had given time according to the provisions to the board of directors and board of commissioners of BPRS including shareholders to make efforts to restore banks, especially the steps needed to overcome worsening capital and liquidity problems.

However, the board of directors and board of commissioners of BPRS including BPRS shareholders were unable to make efforts to restore BPRS, so OJK handed over its handling to the Deposit Insurance Corporation (LPS) to make a decision to save or not save BPRS.

In this regard, LPS decided not to rescue PT BPRS Saka Dana Mulia and asked OJK to revoke the BPRS business license.

Following up on the LPS decision, OJK revoked the Saka Dana Mulia BPRS business license. With the revocation of the business license, LPS will carry out the guarantee function and carry out the liquidation process in accordance with applicable regulations.

OJK urges all BPRS customers to remain calm because public funds in banks including BPRS will be guaranteed by LPS.