Not yet pocketed OJK Permit, We Can Stop Accepting New Donors in Mutual Care

Having previously been introduced to the public in early April 2020, the service crowd insuranceTake care of each other which was initiated by Kitabisa, was asked by the Investment Alert Task Force (SWI) to stop its operations because it had not yet obtained a permit from the OJK.

As reported by Seconds, this program is suspected of being an insurance activity as referred to in Law no. 40 of 2014, so you must obtain an insurance business license from the OJK.

To DailySocial In a previous interview, the Co-Founder & CEO of Kitabisa Alfatih Timur revealed, Mutual Guard products have been registered with regulatory sandbox OJK and currently its status is still waiting for further processing from the authorities.

"As for Kitabisa as a platform through crowdfunding Donations will still be under the auspices of the Ministry of Social Affairs of the Republic of Indonesia's Money and Goods Raising Permit (PUB)," said Alfatih.

Utilizing the technology developed by Kitabisa, the scale of the community that can join the joint venture can be significantly expanded. Previously, the concept of a joint venture to take care of each other could only be done by a community in one village, now it can be done with thousands and even millions of people throughout Indonesia. The more members join, the smaller the contribution to help members in need, the more people can be helped.

Stop accepting new donors

As of March 2021, Kitabisa noted that there were more than 650 thousand members who had joined the Mutual Care and had distributed a total aid of Rp. 2 billion to 500 members who were diagnosed with Covid-19 or critically ill.

For now, in accordance with the request from the regulator, the Kitabisa representative said that they have decided to stop accepting new donors and respect the OJK's advice.

But others for registered donors are still running, because according to them the application of the Mutual Care program has obtained permission from the Ministry of Social Affairs. Currently, Kitabisa is still coordinating with related parties and will provide more complete information regarding the next Mutual Care service next week.