Indonesia's Financial Services Authority (OJK) has revoked the business licence of PT Varia Intra Finance (PT VIF), after determining the firm could not be rehabilitated under the special supervision regime for financing companies. The revocation was made under a Board of Commissioners member decision dated 20 January 2026, following PT VIF’s designation as a “non-rehabilitatable” company under Article 38 of OJK Regulation No. 49/2024 as amended by OJK Regulation No. 25/2025. OJK said PT VIF was given time to implement corrective actions set out in the special supervision action plan, but did not meet the criteria to be considered rehabilitatable by the end of the special supervision period. With the licence withdrawn, PT VIF is prohibited from conducting financing company activities, must settle rights and obligations to debtors, creditors and other parties, and is barred from using “finance”, “pembiayaan” or other financing-company descriptors in its name. PT VIF must hold a general meeting of shareholders within 30 working days of the licence revocation to decide on dissolution and establish a liquidation team, and must appoint a task force and service centre to handle customer and public interests until the liquidation team is formed, reporting these appointments to OJK within five working days of receiving the revocation notice.
OJK 2026-01-23
Indonesia's Financial Services Authority revokes PT Varia Intra Finance’s financing company business licence
Indonesia's Financial Services Authority (OJK) has revoked the business licence of PT Varia Intra Finance (PT VIF) after deeming it non-rehabilitatable under the special supervision regime. PT VIF must now settle its obligations, cease using financing-related descriptors, and hold a general meeting within 30 working days to decide on dissolution and establish a liquidation team.