Rancak Media – The Financial Services Authority (OJK) has officially summoned the shareholders of PT Lunaria Annua Teknologi (KoinP2P), a subsidiary of PT Sejahtera Lunaria Annua (KoinWorks), to ensure that the company upholds its responsibilities toward its lenders.
This move comes amidst ongoing legal proceedings by the Jakarta High Prosecutor’s Office, which has targeted executives at the P2P lending firm, KoinP2P.
Agus Firmansyah, Head of the Surveillance and Integrated Financial Services Sector Policy Department at OJK, emphasized that the regulator fully respects and supports the current legal enforcement process. However, he stressed that the operational continuity and accountability of the firm remain a priority.
“OJK has summoned the shareholders to reiterate that the responsibility for KoinP2P’s business continuity remains firmly with them. This includes ensuring that operations and services to the public continue to function in accordance with applicable regulations,” Agus stated in a written release on Saturday, May 9.
According to Agus, the OJK is currently maintaining intensive surveillance over KoinP2P as a registered Technology-Based Joint Funding Service (LPBBTI) provider. Despite the detention of company executives by the Jakarta High Prosecutor’s Office, the OJK insists that the obligation to maintain business operations rests solely with the shareholders.
Beyond maintaining operations, the regulator has demanded a clear commitment from both the management and shareholders to resolve outstanding issues, with a primary focus on fulfilling financial obligations to lenders.
To ensure compliance, the OJK is conducting direct inspections and a comprehensive evaluation of KoinP2P’s operations, infrastructure, governance, and business model. The regulator has already issued instructions for necessary corrective measures to be implemented immediately.
Read also: Digital Fraud Schemes Are Getting Cunning; East Java OJK Partners with Law Enforcement
“We are strictly monitoring the efforts to settle obligations to lenders, resolve non-performing loans, and address other fundamental improvements to maintain business continuity and public service,” Agus added.
In addition to routine oversight, the OJK is performing special audits and investigative checks as permitted under current regulations. This heightened scrutiny is vital to protecting the interests of lenders and ensuring the continued viability of the firm’s services.
Agus warned that the OJK will not hesitate to enforce compliance and impose administrative sanctions on any parties found violating regulations or failing to meet their commitments. This may include a re-assessment of the company’s primary stakeholders.
Furthermore, the OJK is urging industry associations to take proactive steps to ensure the health of the P2P lending industry. The goal is to keep the sector stable so it can continue contributing to public financing, particularly for small and medium-sized enterprises (MSMEs).
“We are encouraging associations to implement the necessary steps to safeguard the industry, ensuring it remains robust and continues to support society through accessible financing, especially for MSMEs,” he concluded.
Summary
The Financial Services Authority (OJK) has summoned the shareholders of KoinP2P to ensure the company remains accountable to its lenders amid ongoing legal proceedings against its executives by the Jakarta High Prosecutor’s Office. Despite these legal challenges, the OJK emphasizes that the shareholders hold primary responsibility for maintaining the firm’s operational continuity and meeting all service obligations.
To protect the interests of lenders, the regulator is conducting intensive surveillance, including direct inspections and special audits of the company’s governance and business model. The OJK has warned that it will strictly enforce compliance and may impose administrative sanctions, including the potential re-assessment of stakeholders, if the firm fails to meet its commitments and regulatory requirements.
