OJK Revokes OVO Finance Indonesia's Business License Here's the Reason
Rancakmedia.com – Financial Services Authority or OJK officially revoked OVO Finance Indonesia's business license. The license revocation was based on the Decision of the Board of Commissioners of the Financial Services Authority Number KEP-110/D.05/2021 dated 19 October 2021.
The OJK website on Tuesday, 9 November 2021 announced that the revocation of PT OVO Finance Indonesia's business license took effect from the Decision of the Board of Commissioners of the Financial Services Authority on the date it was stipulated.
The decision states that the finance company is located at the Lippo Kuningan Building, 17th Floor Unit D, Jalan HR. Rasuna Said Jakarta no longer has an OJK permit.
"With the revocation of the business license, the company is prohibited from conducting business activities in the field of finance companies," said the official statement from the OJK signed by the Head of the IKNB 1A Supervision Department as Plh. Deputy Commissioner for Supervision of IKNB Im Dewi Astuti.
OVO is also required to carry out rights and obligations in accordance with the provisions of the relevant laws and regulations. These obligations are:
- Settle the rights and obligations of interested debtors, creditors and/or funders
- Provide accurate information to interested debtors, creditors or funders regarding procedures for settling rights and obligations.
- Providing an information center and consumer complaints within the company.
In addition, companies whose business licenses are revoked are prohibited from using the words "finance", "financing", and/or words that are sharia financing or institutional activities, on behalf of the company, in accordance with Article 112 of the OJK. Regulation Number 47/POJK.05/2020.
FAQs
Below is information based on questions related to the articles that we have submitted above.
Is it true that OVO's license has been revoked?
The Financial Services Authority (OJK) revoked the business license of OVO Finance Indonesia (OFI) since 19 October 2021.
Why OVO Finance was closed
PT OVO Finance Indonesia (OFI) has had its license revoked by the Financial Services Authority (OJK). The reason lies in considering the company's external and internal factors based on the decisions of the general meeting (GMS).
Owner of OVO Finance Indonesia?
PT OVO Finance Indonesia is a multi-finance company owned by the Lippo Group, located at the Lippo Kuningan Building, 17th Floor, Unit D, Jalan HR. Rasuna Said Kav. B-12RT. 017RW. 07, Rubber Brass, Setiabudi, South Jakarta, 12940.
Conclusion
The Financial Services Authority or OJK has officially canceled the business license of PT OVO Finance Indonesia. The decision states that the finance company is located at the Lippo Kuningan Building, 17th Floor Unit D, Jalan HR. Rasuna Said Jakarta no longer has a permit.
With the revocation of the business license, the company is prohibited from conducting business activities in the field of financing. Companies whose business licenses have been revoked are prohibited from using the words "finance", "financing", and/or words that characterize sharia financing or institutional activities, on behalf of the company.