JAKARTA – The Financial Services Authority (OJK) raises the minimum paid-up capital of the Credit Information Management Institution (lit. Lembaga Pengelola Informasi Perkreditan/LPIP) from IDR 50 billion to IDR 200 billion. This capital increase is mentioned in the recently issued OJK Regulation (POJK) No.5/POJK.03/2022 regarding LPIP.
In the treatise of POJK No.5 quoted Friday (6/5), OJK also aim to have 50% of the minimum paid-up capital as a net capital in order to ensure LPIP’s business sustainability in the next five years. With this capital adjustment, OJK expects the credit distribution and financial inclusion will improve in the future as the credit information development escalates.
LPIP is designed to be able to utilise the data outside the ones in the Financial Information Service System (SLIK). For instance, it could employ the data from Financial Services Agencies (LJK) that aren’t listed in SLIK and non-LJK, including healthcare, telco, marketplace, and other financing services.
Furthermore, LPIP’s governance that will be implemented encompasses independence, risk management, compliance function, and internal audit, as well as a reassessment regarding the controlling shareholder, management, and executive officers of LPIP. Additionally, LPIP must administer any underlying demand of credit information. (LK/ZH)