Financial Services

Formulation and Submission of Good Corporate Governance Reports by Venture-Capital Companies
In a bid to implement Article 42 (2) of Financial Services Authority Regulation No. 36/POJK.05/2015 on Good Corporate Governance by Venture-Capital Companies, the OJK has issued Circular No. 4/SEOJK.05/2018 on Reporting the Implementation of Good Corporate Governance for Venture-Capital Companies.
OJK Sets New Guidelines on Real-Estate Investment Funds
As part of the Indonesian Government’s 11th Economic Policy Package, the Financial Services Authority has issued Regulation No. 64/POJK.04/2017 on Real-Estate Investment Funds in the Form of Collective-Investment Contracts.
Provisions on the Temporary Suspension and Postponement of Financial Transactions Updated
As one of the measures which is being aimed at the prevention of money-laundering and terrorism-financing activity, the Financial Transaction Reports and Analysis Centre (PPATK) has issued Regulation No. 18 of 2017 on the Implementation of the Temporary Suspension and Postponement of Transactions by Financial Service Providers.
Integrated Licensing Facility for the Operational Affairs of Commercial Banks
Bank Indonesia has issued Regulation No. 19/13/PBI/2017 on One-Stop Services at Bank Indonesia for the Operational Affairs of Commercial Banks. In essence, Regulation 19/2017 introduces an integrated-service facility established by BI for the provision of licenses which relate to operational affairs between commercial banks and BI.
BI Further Regulates Regulatory-Sandbox Provisions for Fintech Organizers
Member of the Board of Governors of Bank Indonesia has issued Regulation No. 19/14/PADG/2017 on the Regulatory Sandbox for Financial Technologies, which addresses technical provisions which relate to the organization of a regulatory sandbox approach for Financial Technology, as regulated under Bank Indonesia Regulation No. 19/12/PBI/2017 on the Organization of Financial Technologies.
Technical Guidelines for Registration, Submission of Information and Monitoring of Fintech Organizers
Member of the Board of Governors of Bank Indonesia has just issued Regulation No. 19/15/PADG/2017 on Procedures for the Registration, Submission of Information and Monitoring of Financial Technology Organizers, which is an implementation of Bank Indonesia Regulation No. 19/12/PBI/2017 on the Organization of Financial Technologies.
New BI Regulation on Fintech
Bank Indonesia recently issued Regulation No. 19/12/PBI/2017 on the Organization of Financial Technologies. Regulation 19/2017 is essentially aiming to accommodate technological developments, as well as to guarantee customer protection within the financial sector in a bid to maintain monetary stability and the stability of the financial system, as well as reliable payment systems capable of supporting sustained national economic growth.
Provisions on the Implementation of KYC Principles by Accountants Amended
In a bid to comply with the recommendations made by the Asia-Pacific Group Financial Action Task Force, the Ministry of Finance has issued Regulation No. 155/PMK.01/2017, which amends Ministry Regulation No. 55/PMK.01/2017 on the Know-Your-Customer Principle for Accountants and Public Accountants.
Govt. Relaxes Submission Period for Mandatory Reporting by Gateways
The Ministry of Finance has issued Regulation No. 141/PMK.08/2017 on Procedures for the Transfer of Taxpayer Assets to Indonesia and Their Placement within the Financial Market and External to the Financial Market under the Tax-Amnesty Framework in a bid to achieve compliance with the regulation simplification program and to relax the submission period for mandatory reporting by gateways.
Govt. Introduces New Housing Credit/Financing Scheme for Low-Income Citizens
In order to accelerate the accessibility of housing facilities for low-income citizens, the Ministry of Public Works and Public Housing has issued Regulation No. 18/PRT/M/2017 on Savings-Based Housing Financing Facilities.
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