JAKARTA - The Financial Services Authority (OJK) revoked the business license of BPR Brata Nusantara (BN) because it was unable to meet the minimum capital requirement within a predetermined time frame.
Triana Gunawan, Regional Manager of the OJK Regional 2 West Java said that until the deadline, the management and shareholders of BPR Brata Nusantara were unable to carry out the restructuring efforts requested by OJK. "Since 6 July 2020, Brata Nusantara has been given the status of 'Under Special Supervision (BDPK)'," he said in a press release on Thursday (1/10).
According to him, the status was given because the bank's management was not prudent and did not fulfill the principles of sound banking. However, the government, through the Deposit Insurance Corporation (LPS) will still guarantee the funds of BPR BN's customers according to regulations. (LK/AR)