OJK Revokes BPR Indotama Sulawesi Business Permit

JAKARTA - The Financial Services Authority (OJK) has revoked the business license of PT BPR Indotama UKM Sulawesi (BPR Indotama) which is located at Jalan AP Pettarani, Ruko Bisnis Center Block B Number 17, Makassar City, South Sulawesi.

The decision is in accordance with the Decree of the OJK Board of Commissioners Number KEP-79/D.03/2023 dated November 15, 2023 regarding the Revocation of the BPR Indotama UKM Sulawesi Business License.

Head of OJK for South Sulawesi and West Sulawesi Provinces Darwisman in Jakarta, Tuesday, explained that on April 12, 2023, the OJK had established the Indotama BPR in its Bank Monitoring status in Restructuring with a period of 12 months from the date of enactment of Law Number 4 of 2023 concerning Financial Sector Development and Strengthening (UU P2SK), considering that it did not meet the level of capital as stipulated.

Then, on November 6, 2023, the OJK determined that the Indotama BPR was under the supervision status of the Bank Dalam Resolution with considerations, the OJK had given sufficient time to shareholders, board of commissioners, and BPR directors to make restructuring efforts.

This is as regulated in POJK Number 19/POJK.03/2017 concerning the Determination of the Status and Follow-up to Supervision of BPR and BPRS as amended by POJK Number 32/POJK.03/2019 concerning Amendments to POJK Number 19/POJK.03/2017 concerning the Determination of Status and Follow-up to Supervision of BPR and BPRS.

"However, BPR shareholders cannot nourish the BPR in question and are not cooperative or cannot be found," said Darwisman.

Furthermore, based on the Decree of the Board of Commissioners for the Bank Deposit and Resolution Guarantee Program Number 15/ADK3/2023 dated November 8, 2023 concerning Bank Settlement in BPR Resolution.

Then, the Deposit Insurance Corporation (LPS) decided not to make rescues and asked the OJK to revoke the BPR's business license.

"Following up on the LPS request, OJK based on Article 38 of the POJK above, revocation of the Indotama BPR business license," said Darwisman.

With the revocation of this business license, Darwisman said LPS would carry out its guarantee function and carry out the liquidation process in accordance with the 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 urges BPR customers to remain calm because public funds in banks including BPR are guaranteed by LPS in accordance with applicable regulations," said Darwisman.