The OJK Has Completed 464 Licensing Applications In The Field Of PVML As Of October 2024

The Financial Services Authority (OJK) has completed a total of 464 licensing applications in the sectors of Financing Institutions, Venture Capital Companies, Microfinance Institutions, and Other Financial Service Institutions (PVML) as of October 2024.

In detail, Agusman, the Executive Head of PVML Supervision at OJK, explained that out of the 464 applications, 44 pertain to new business licenses.

"Additionally, there were 12 business license revocations and 408 management licenses," he stated during a working meeting with Commission XI of the Indonesian House of Representatives on Monday, November 18.

To uphold compliance and integrity, Agusman noted that OJK has conducted both offsite and onsite supervision of Financial Service Business Actors (PUJK) in the PVML sector.

As of October 2024, Agusman detailed that offsite supervision was carried out for 147 financing companies, 55 venture capital firms, and 97 peer-to-peer (P2P) lending fintech providers. Onsite supervision was conducted for 17 financing companies, 2 venture capital firms, and 2 fintech lending providers.

"Furthermore, onsite supervision was also performed on 2 financing companies under special supervision, along with a special examination of 8 suspected criminal acts in the PVML sector," Agusman added.

Tag: Financial Services Authority OJK Venture Capital Companies