Indonesian Food and Drug Administration (BPOM) has issued an ‘Emergency Use Permit’ for the Sinovac vaccine produced by PT Bio Farma, an Indonesian state-owned enterprise. Indonesia has ordered >140 million doses of the Sinovac vaccine. But only 3 million doses
Effective from 13 Feb 2021, Indonesia’s Covid-19 vaccination process is regulated under Presidential Reg No. 14 of 2021. The purpose of this regulation is to ensure that 181.5 million citizens will be vaccinated to help enable herd immunity. The government
President Jokowi appointed 5 board of directors for the Indonesia Investment Authority (INA), the country’s sovereign wealth fund, namely Ridha DM Wirakusumah (Managing Director of PT Bank Permata Tbk) as CEO, Arief Budiman (ex-Financial Director of Pertamina) as Deputy CEO,
The Minister of Finance, Sri Mulyani, announced that the government debt under President Joko Widodo’s administration amounts to IDR 6,075 trillion. Therefore, the ratio in government debt to GDP has reached 38.68%, an increase from 29% in Dec 2019. Representatives
The policies address critical enablers of the financial services ecosystem. These policies cover regulatory sandboxes to enable business model innovation, expanding regulatory scope to include digital financial systems between different parties, e.g: API applications., strengthening human source and research capabilities.
Predicted to occur this month, Gojek and Tokopedia’s likely merger is expected to fetch a valuation of IDR ~559 trillion (US$ ~40 billion). According to Bloomberg sources, the two companies are discussing merger scenarios, with various closing timelines and IPO
Bank Syariah Indonesia (BSI) aims to be one of the world’s 10 largest Islamic banks by 2025.. Indonesia is home to ~12% of the world’s Muslim population, and will be a significant market for BSI. To serve this large market,
According to the Global Islamic Economic Indicator, Indonesia has been a fast growing Sharia (or Islamic) economy over the past three years, jumping from its 11th position in 2017 to 4th in 2020. Jardine Husman, Deputy Director of the Department
While OJK encourages the productive growth of fintech lending, there are major concerns for misuse of the technology. With effect from 29 January 2021, the new regulation contains 108 pages concerning 9 important areas on anti-money laundering and terrorism financing
Financial Services Authority (OJK) plans to increase fintech lending for productive loans from 35.7% currently to ~60% of total loans disbursed by 2024. Consumer or personal loans currently dominate fintech lending, which have higher risk for bad debts. Productive loans
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