Jakarta, hitclubapk3 Indonesia
—
Financial Services Authority (
FSA
) unplug
business license
fintech P2P lending or online loans (pinjol) PT Crowde Building the Nation (
Crowde
).
The revocation of the Pinjol Crowde business permit is in accordance with the Decision of the Members of the OJK Board of Commissioners Number KEP-68/D.06/2025 dated 6 November 2025.
The revocation of the business license was mainly because Crowde violated the minimum equity provisions and other provisions as regulated in OJK Regulation Number 40 of 2024 concerning Information Technology-Based Joint Funding Services (LPBBTI).
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“As well as worsening company performance which has an impact on operations and services to the community,” said the OJK statement, Monday (10/11).
OJK said this step was part of efforts to create a healthy financial services industry, especially LPBBTI or online loan providers that have integrity, good governance and implement adequate risk management in order to maintain public trust.
Before revoking the business license, OJK has asked Crowde’s management and shareholders to fulfill minimum equity obligations, improve performance and comply with applicable regulations.
In line with this, the OJK has also taken firm action by gradually imposing administrative sanctions on Crowde, including warning sanctions up to suspension of business activities (PKU) and being designated as an organizer that cannot be healthy.
“Until the specified time limit, the management and shareholders were unable to fulfill the provisions and resolve the problem, so Crowde was subject to sanctions for revoking its business license in accordance with applicable regulations,” said OJK.
Furthermore, with the revocation of the business license, Crowde is obliged to stop all its business activities as a loan provider, except to carry out things in accordance with statutory provisions.
Then, prohibit Crowde’s shareholders, management, employees and/or related parties from transferring, pledging, pledging, using, obscuring the recording of assets, and/or taking other actions that could reduce or lower the value of the company’s assets/wealth, except for matters related to fulfilling obligations according to statutory provisions.
Companies are also obliged to resolve their rights and obligations to lenders, borrowers and/or other parties in accordance with statutory provisions;resolve employee rights in accordance with provisions in the field of employment;convene a GMS no later than 30 working days from the date of business license revocation for the formation of a Liquidation Team and dissolution of the Crowde legal entity, as well as prepare and submit a Closing Balance Sheet to the OJK in accordance with applicable regulations.
“Appoint the person in charge and employees who will serve as a Task Force and Service Center to serve the interests of Debtors and the Community until the Liquidation Team is formed and must be reported to the Financial Services Authority no later than 5 working days from notification of business license revocation from the Financial Services Authority,” said OJK.
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(fby/pta)
