JAKARTA. The Financial Services Authority (OJK) noted that as of February 2020, there were 40 multifinance companies that did not meet the minimum capital requirement of Rp 100 billion set by the OJK.
Previously, the OJK has given deadlines to those companies to immediately comply with the minimum capital regulation.
Bambang W. Budiawan, Head of the Non-Bank Financial Industry Supervision Department (IKNB) at OJK, said the regulation had been included in Article 87 of POJK Number 35/2018.
Responding to this, Budiawan said he had asked those companies to submit their plans to comply with the regulation. (KR/AR)