Aceh – Indonesia, The Deposit Insurance Corporation (LPS) has paid out IDR 46.80 billion in customer claims for four BPR/BPRS (rural banks) in Aceh whose business licenses were revoked, as part of fulfilling its deposit guarantee function in the Aceh region.
This amount stems from total eligible deposits reaching IDR 47.07 billion.
This was stated by Sub Manager of LPS Representative Office I, Muhammad Syafril, during the LPS Media Gathering in Sabang City on Wednesday (7/10/2026).
Syafril explained that the payout was calculated after factoring in the maximum LPS coverage limit of IDR 2 billion, set-offs against customer obligations, and the resolution of customer objections received by LPS.
“In carrying out bank deposit guarantees in the Aceh region, LPS has paid out IDR 46.80 billion from total eligible deposits amounting to IDR 47.07 billion,” Syafril said.
From the inception of LPS up to September 30, 2026, deposit insurance claims have been handled for four BPR/BPRS in Aceh that had their operating licenses revoked. The four institutions are BPR Hareukat, BPR Aceh Utara, BPRS Kota Juang, and BPRS Gayo Persada.
Syafril noted that implementing deposit guarantees is part of LPS’s mandate to protect banking customers. Along with the expansion of the institution’s authority, LPS has also been mandated to administer the Policy Guarantee Program (PPP).
This topic was among the key presentations delivered by Syafril at the LPS Media Gathering, which was attended by approximately 30 local media outlets in Aceh. He explained the strengthened role and function of LPS following amendments to Law No. 4 of 2023 on Financial Sector Development and Strengthening (UU P2SK), as amended by Law No. 4 of 2026.
Under the P2SK Law, LPS received a mandate to run the Policy Guarantee Program and handle the resolution of insurance companies and sharia insurance companies.
Syafril mentioned that the program aims to provide protection to policyholders, insured parties, or participants in the event an insurance and/or sharia insurance company has its license revoked due to financial distress.
This authority was further strengthened through amendments to the P2SK Law via Law No. 4 of 2026. LPS gained a mandate as a risk minimizer, shifting its role to not only providing policy guarantees but also holding the authority to take necessary measures to minimize risks and manage troubled insurance firms.
“With the strengthening of LPS’s role and authority in the Policy Guarantee Program, including its mandate as a risk minimizer and its resolution power over conventional and sharia insurance companies, LPS is expected to offer more optimal protection to policyholders, the insured, and participants,” Syafril explained.
The Policy Guarantee Program, Syafril noted, will take effect by January 2028 at the latest. In preparing for its rollout, LPS continues to enhance public literacy and understanding of insurance through various educational and communication channels, including synergies with regional media.
Through deposit guarantee operations and preparations for the Policy Guarantee Program, LPS hopes the public feels secure when accessing financial system services—both banking and insurance—thereby supporting national financial system stability. (Sep)