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.
Reporting of the Implementation of Good Corporate Governance by Guarantee Institutions
The Financial Service Authority has issued Circular No. 54/SEOJK.05/2017 on the Reporting of the Implementation of Good Corporate Governance by Guarantee Institutions, which is an implementation of Article 58 (6) of OJK Regulation No. 3/POJK.05/2017 on Good Corporate Governance by Guarantee Institutions.
Local Currency Settlements for Bilateral-Trade Transactions between Domestic Banks and Banks of Partnering Countries
In order to meet the goal of accommodating the settlement of bilateral-trade transactions using local currency for the purpose of maintaining the stability of the rupiah currency, Bank Indonesia has issued Regulation No. 19/11/PBI/2017 on the Settlement of Bilateral Trade Transactions through the Use of Local Currency (Local Currency Settlements) via Banks
Technical Provisions for the Reporting and Requesting of Debtor Information through the Financial Information Services System
The Financial Services Authority has issued Circular No. 50/SEOJK.03/2017 on Reporting and Requests for Debtor Information through the Financial Information Services System, which will serve as an implementation of OJK Regulation No. 18/POJK.03/2017.
Good Corporate Governance for Securities Companies Acting as Securities Underwriters and Securities Brokers
The Financial Services Authority has issued Regulation No. 57/POJK.04/2017 on the Implementation of Good Corporate Governance by Securities Companies Acting as Securities Underwriters and Securities Brokers, with the overall objective of improving the quality of securities companies, as well as ensuring customer protection.
The Organization of Conventional Pawnbrokers Business Activities
In order to set out further provisions on pawnbroker businesses, as already addressed under Financial Service Authority Regulation No. 31/POJK.05/2016 on Pawnbroker Businesses, the OJK recently issued Circular No. 52/SEOJK.05/2017 on the Organization of Conventional Pawnbroker Business Companies.
BI Regulates Supporting Institutions for Money-Market Transactions Involving Commercial Papers
The Board of Bank Indonesia Governors has issued Regulation No. 19/9/PADG/2017 on Money-Market Supporting Institutions Which Organize Activities Relating to Commercial Papers within the Money Market, which will serve as a set of guidelines for any supporting institutions engaging in money-market transactions involving commercial papers.
Technical Guidelines Relating to Registration, Business Licensing and Organizational Structure for Pawnbroker Companies
As an implementation of Article 9 (9) and Article 12 (2) of Financial Services Authority Regulation No. 31/POJK.05/2016 on Pawnbroker Businesses, the OJK has issued Circular No. 51/SEOJK.05/2017 on Registration, Business Licensing and Organizational Structure for Pawnbroker Companies.
Technical Procedures for the Issuance of Sharia-Deposit Certificates
SDCs are savings in the form of deposits which are issued based on sharia principles through the implementation of mudharabah mutlaqah or mudharabah muqayyadah agreements. SDCs can be transferred prior to their maturity date through the use of sales-purchase agreements (ba’i), inheritance or grants. In addition, SDCs may also be traded through the secondary market through the use of repurchase agreements (repo) which are based on sharia principles.
Income Tax Borne by the Government for Certain Incomes for the 2017 Budgetary Year
As an implementation of Article 4 (3b) of Law No. 18 of 2016 on the State Budget for the 2017 Budgetary Year, as amended by Law No. 8 of 2017, the Ministry of Finance has issued Regulation No. 126/PMK.010/2017 on Government-Borne Income Tax on Interest or Rewards of State Commercial Papers which are Issued through the International Market, and Third-Party Income on Services which are Provided to the Government for the Issuance and/or Repurchase/Exchange of State Commercial Papers through the International Market for the 2017 Budgetary Year