Revocation of Business License Financial Technology Peer to Peer Lending Company PT Tani Fund Madani Indonesia

May 13, 2024
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Based on the Decision of Indonesia Financial Services Authority Board of Commissioners number KEP-19/D.06/2024 dated 03 Mei 2024, we hereby to announce that OJK has revoked the business license of PT Tani Fund Madani Indo​nesia which its head office is located at GoWork Menara Standard Chartered Podium Lt. 2, Jl. Prof. Dr. Satrio No. 164, RT 4/RW 4, Karet Semanggi, Setiabudi, South Jakarta 12930. The revocation of the business license is effective since the date of the business license revocation is issued by the Board of Commissioners of Indonesia Financial Services Authority.

The revocation of PT Tani Fund Madani Indonesia's business license as an financial technology peer to peer lending company, was enacted due to the company’s non-compliance with regulatory requirements. Specifically, PT Tani Fund Madani Indonesia failed to meet the minimum equity requirements and neglected to implement recommendations issued by OJK.

In relation to this issue, PT Tani Fund Madani Indonesia is required to comply with following procedures: Prohibited from conducting business activities as Financial Technology Peer to Peer Lending Company. Convene a General Meeting of Shareholders (GMS) to deliberate on the dissolution and establishment of a Liquidation Team. Settlement of the rights and obligations of the Cooperative will oversee by the Liquidation Team which will be formed in accordance with relevant laws and regulations.

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