The National Payment Gateway: Redefining Domestic Payment Systems and the Move towards a Cashless Society
Bank Indonesia has finally introduced the National Payment Gateway (NPG), a system which has been developed in order to integrate various payment channels and instruments at the national level. Through the NPG, the public can efficiently process domestic, non-cash transactions through any bank via any instrument and any channel.
Mortgage Backed Securities in Indonesia
In 2016, 17.42% of Indonesian households did not own their own homes. One solution offered by the government was to issue a regulation on secondary financing for housing projects, a type of financing which involves securitization over the pool of mortgage-loan facilities (“KPR”). Under this scheme, banks and other financial institutions responsible for the issuance of KPR may introduce countermeasures which address any maturity mismatch.
Seaport Businesses and Activities 101
Seaports represent perhaps Indonesia’s most vital trading backbone and are operated by port authorities and port operation units, both of which we will be referring to as Port Operators in this edition of ILD. However, the operation of ports may be transferred to other parties, i.e., so-called Port Companies, through concessions or through other cooperation schemes which may be available. As with any other Indonesian business framework, port businesses are required to be in possession of valid business licenses and thus all port players should secure the relevant licenses from the relevant authorities prior to commencing any port activities.
Cryptocurrency in Indonesia
An important economic milestone in many eyes and destined to lead to financial disruption the world over, cryptocurrencies are now used for everything from investment to shopping to buying apartments to financing terrorist organizations. Cryptocurrencies offer many potential benefits but also pose considerable risk at the same time. This edition ILD will analyze and address a number of key issues relating to the world of cryptocurrency and will take a look at how this new phenomenon is playing out in Indonesia.
Indonesian Sharia Financial Services
With the rising trend of sharia principles being applied across the economic and legal sectors, it is becoming increasingly important to understand the underlying basics of the various agreements and financial-service products which are based on sharia principles. This edition of ILD is merely a basic practical guide however and thus will only address the most common sharia economic products, specifically general agreements and financial services.
E-Commerce in Indonesia: Market Prospects
As ASEAN’s biggest e-commerce player, it is predicted that the digital economy will be making an annual contribution of some $150 billion to Indonesian coffers by 2025. In order to help unleash this e-commerce potential however, the government has introduced numerous regulations and has also formulated an official road map for the sector, which is to be implemented between 2017 and 2019. This edition of ILD will elaborate upon key aspects of Indonesia’s e-commerce sector, while highlighting a number of important policies which are currently being implemented by the Indonesian government.
Legal Perspective: Automotive Manufacturing in Indonesia
As Southeast Asia's largest economic powerhouse, Indonesia has succeeded in attracting a number of global automotive corporations to invest heavily in the country. Indeed, the government specifically set its sights upon this sector by making it one of the priority industries which is described under the 2015-2035 Master Plan for National Industrial Development.
Guide to the Property Business and Ownership in Indonesia
In 2016, the Indonesian Consumers Foundation (YLKI) reported an increase in the number of property-sector related submitted by the general public. A total of 123 complaints were filed in all, making property the second most-complained-about sector after the financial sector. Unfortunately though, such complaints usually lead nowhere for at least two reasons. Firstly, there has been no improvement as regards the regulatory framework which governs this sector, and secondly, demand for property remains very high. This edition of ILD will elaborate upon certain key aspects of the property sector within Indonesia, while highlighting a number of important areas which need to be taken into consideration by buyers of either houses or apartments.
Landscaping the Opportunities: Exploiting New and Renewable Energies to Produce Electricity
The use of new and renewable energies in order to produce electricity is a growing trend, both internationally and in Indonesia. Under the Paris Agreement, the nations of the world are required to support a shift from non-renewable sources of energy to newer forms of renewable energy. In national scope, the necessity for alternative energy resource for electricity is critical. However, will this shift prove beneficial for business players across the energy sector?
Tourism Business in Wonderful Indonesia
The tourism industry is in the business of pleasure and there are many ways of putting smiles on tourists’ faces. This edition of ILD will scrutinize the various legal elements underlying the fun and take a look behind the scenes at the establishment of tourism businesses.