BANDUNG - The Financial Services Authority (OJK) as the regulator and supervisory authority of financial services institutions, revoked the business license of PT Sinarenam Permai Jatiasih, which is located at Bekasi Grand Complex Center Block A Number 15, Jalan Cut Meutia, Bekasi Regency, West Java.
Director of Supervision of Financial Services Institutions 1 West Java Regional Office 2 Financial Services Authority Riza Aulia said the revocation of business licenses of PT Sinarenam Rural Bank Permai Jatiasih was issued through the Decision of the Board of Commissioners (KADK) Number KEP-186 / D.03 / 2018 November 8, 2018 Regarding Revocation of Business License of PT Sinarenam People's Credit Bank Permai Jatiasih, as of November 8, 2018.
Previously, in accordance with POJK Number 19 / POJK.03 / 2017 and the Financial Services Authority Circular Letter (SEOJK) Number 56 / SEOJK.03 / 2017, namely Determination of Status and Follow-Up of Supervision of Rural Banks and Islamic People's Financing Banks, PT BPR Sinarenam Permai Jatiasih since July 25, 2018 has been determined to be a Special Supervisory Rural Bank (BDPK) status due to the Minimum Capital Adequacy Ratio (KPMM) of less than 0%. The determination of the BDPK status was due to management weaknesses by BPR management who did not pay attention to the principle of prudence and the fulfillment of sound banking principles.
The status is determined with the aim that the Management / Shareholders make a restructuring effort. However, until the specified time limit, restructuring efforts made by the Management / Shareholders to get out of BDPK status and BPR can operate normally with a KPMM ratio of at least 8% not realized.
Considering the deteriorating financial condition of the BPR and the statement of unwillingness from the Shareholders to make the BPR healthy and pointing out Article 38 POJK above, the OJK revoked the BPR business license after receiving notification from the Deposit Insurance Corporation (LPS).
With the revocation of the business license of PT Sinarenam Rural Bank Permai Jatiasih, LPS will then carry out the guarantee function and conduct a liquidation process in accordance with Law Number 24 of 2004 concerning the Deposit Insurance Corporation as amended by Law Number 7 of 2009.
OJK urged customers from Sinarenam Permai Jatiasih PT Bank Perkebunan to remain calm because public funds in banks including LPS guaranteed LPS in accordance with applicable regulations. Jo