Revocation of Business License for FInance Company PT Sarana Majukan Ekonomi Finance Indonesia

January 17, 2024
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​OJK through the Decree of the Board of Commissioners of the Financial Services Authority number KEP-2/D.06/2024 dated January 15th, 2024, has revoked PT Sarana Majukan Ekonomi Finance Indonesia business license, which its head office is located at Jalan Abdul Muis Nomor 28, RT 006, RW 008, Kelurahan Petojo Selatan, Kecamatan Gambir, Jakarta Pusat, Provinsi DKI Jakarta 10160. 

PT Sarana Majukan Ekonomi Finance Indonesia is prohibited from carrying out business activities in financing sector and is obligated to settle rights and obligations in accordance with the applicable laws and regulations, among others:

  1. Restricted from using the word “finance” and/or word that characterize financing activites for naming the company in accordance with the provisions of Article 112 of the Business and Institutional Licensing of Financing Companies and Sharia Financing Companies Number 47/POJK/05/2020. 

  2. Provide clear information to debtors, creditors, and/or funders regarding the mechanism for settling rights and obligations.

  3. Required ​to provide customer information and complaints center equipped with authorized contact persons. The intended contact person (including if theres is a change in contact person) must be disclosed to all debtors and can be CC to OJK FAO Directorate of Financing Institutions and Venture Capital Companies Supervision and Directorate of Consumer Services, Complaint Inspection and Regional Consumer Education and Protection

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