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
Bank Indonesia (BI) estimates that foreign capital flows of US$19.4 billion is expected, and is partially attributable to the implementation of Omnibus Law on Job Creation and the establishment of the Investment Management Institute. Perry Warjiyo, BI governor, shared that
Covid-19 has caused additional strain on Indonesia’s demographic bonus, with ~71% of the population within productive age (15-64), resulting in a high unemployment rate of 37.6%. Both the demographic bonus and the unemployment rate is expected to grow given current
The Minister of Finance, Sri Mulyani Indrawati, enacted a new regulation on distribution of funds in foreign currency for the procurement of Covid-19 vaccines. The regulation enables the government to pay directly in foreign exchange, with a direct payment mechanism
Since the start of the pandemic, SMEs are entering the digital ecosystem to reach customers. Bukalapak and Tokopedia claim their SME merchants increased their income by 1,400% (x15) since joining the platform. In 2020, Bukalapak reported 5 million SMEs on
There has been a rapid uptake of QR code-based payment systems in Indonesia. This is more profoundly observable in the traditional market, Pasar Indah Kapuk in North Jakarta. Bank Indonesia aims to accelerate digital payments and access to finance for
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