JAKARTA – The Financial Service Authority (OJK) annulled the financing institution business license of PT Intan Baruprana Finance Tbk (IBFN), effective January 31, 2021. The copy of the OJK commissioners decree regarding the revocation arrived at IBFN yesterday (7/2).
Carolina Dina Rusdiana, President Director of Intan Baruprana Finance, claimed that the company would still perform its obligations to its creditors according to the homologated agreement amendment. “The company will also keep the bills regarding the financing programs channelled to debtors,” she added in the information disclosure quoted Thursday (10/2).
Additionally, Rusdiana said that the company would alter the articles of association regarding the company’s brand transformation, its intention, and its business activities. Her company will also avoid using “finance” or any activities related to financing.
“The company is still a public company. We plan to manage current and non-current assets as long as the action is not engaged in the financing sector,” she explained.
Based on the decree made by OJK commissioners, OJK ordered IBFN to refrain from using the word “finance,” “financing,” or indicating any financing activities. (LK/ZH)