On the Problematic Cooperative Union : Lawsuit against Minister

It has been more than two years since the public became aware of the problems experienced by various Cooperative Unions, especially those who run businesses like banks and conduct fundraising. The Kospin Indosurya case is the most shocking by far and the performance of the Financial Services Authority (OJK) and the Minister of Cooperatives and Small and Medium Enterprises is increasingly being questioned. The Minister, Teten Masduki, finally opened up last year, and mentioned that there were eight Cooperative Unions under special supervision. One of them is the Pracico Savings and Loans Cooperative (KSP Pracico) which is affiliated with the Multi Inti Sarana (MIS) business group. Not long ago, several customers filed a lawsuit against the Kospin, the Minister and the OJK.To subscribe please click here