The Financial Services Authority (OJK) has revoked the business licenses of 15 Rural Banks (BPRs) and Sharia Rural Banks (BPRS) until September 25, 2026. The revocation was carried out due to the unhealthy condition of the banks, particularly due to a lack of capital. One example is PT BPRS Musyarakah Ummat Indonesia in Tangerang which has a Minimum Capital Requirement (KPMM) ratio of less than 12%. The Deposit Insurance Corporation (LPS) guarantees deposits at these banks, provided that the deposits meet three criteria: recorded, interest rate according to regulations, and not violating the law. Customers are reminded to ensure proof of recording when opening an account at a bank.
