OJK Revokes Paladin International License

Jakarta, Jan 10 (Antara) - Financial Service Authority of Indonesia (OJK) has revoked the business license of insurance brokerage of PT Paladin International since late December 2013. Chief Executive of Non-Bank Financial Supervisory Industry of OJK Firdaus Djaelani, through an announcement on the official website on Friday, stated that the license revocation was based on the decision of the Board of Commissioners OJK Number KEP-155/D.05/2013 dated December 27, 2013. The revocation of Paladin International`s license is valid from the date of stipulation of the Board of Commissioners` decision. With the revocation of the business license, Paladin International has been prohibited from conducting business activities on insurance brokerages and is required to take down the nameplate in the headquarters and as well as from the other offices, and is also required to settle all debts and obligations. Based on recent data, the headquarter address of Paladin International is Bidakara Tower Building I 5th Floor Jalan Gatot Subroto Kav. 71-73 Jakarta.