KitaCan Shuts Down Take Care of Each Other Crowdinsurance Platform Due to Permission Issue

Previously, Mutual Care had been registered with the OJK regulatory sandbox, however, did not seem to get a positive feedback from a regulatory perspective

Yenny Yusra - 20 July 2021

After deciding to continue with the registered donors, Take care of each other crowdinsurance service by Kitabisa is now officially shutdown. Previously, the Investment Alert Task Force (SWI) asked Kitabisa to stop operating the platform as it was yet to obtain a license from OJK.

DailySocial tried to confirm on this closure, but the team directed us to the official website which contains information on the closure and the next process for the donors involved.

"The statement said, "Guard each other is a mutual cooperation innovation product initiated by KitaBIsa Foundation. The Foundation and its programs, including Mutual Jaga, are intended as a donation-based social program under the Money and Goods Collection Law (PUB). Ministry of Social Affairs. However, as an innovation product, we understand and respect the decision of the Financial Services Authority to re-evaluate the form of Mutual Jaga licensing. Therefore, after considering various issues, and respecting the OJK's direction in May 2021, it is with a heavy heart that we decide Mutual Jaga to stop the operation. See you in another good will innovation program."