OJK requires the banking industry to implement a climate-resistance risk management strategy. This regulation requirement is part of OJK’s commitment to a sustainable economy, and to encourage capital flow to sustainable public investment, private investment, infrastructure development, human resource development.
OJK will be announcing the core capital requirements for digital banks, and explicit regulations concerning the incorporation of digital banks. The blanket capital requirements for fully digital banks is at IDR 10 trillion, or US$ ~700 million. This requirement is
The Financial Services Authority, OJK, has prepared six strategic policies in collaboration with Bank Indonesia to maintain financial stability amidst the implementation of “Restrictions on Community Activities” (PPKM). The government hopes that this year’s economy will still be able to
With effect from 1 May 2021, the government mandates supermarkets and shopping centres to provide up to 30% of its retail space for MSMEs. This is an increase from the previous mandate of 20%. The management of shopping centers are
OJK plans to revise its current regulation that will allow fintech lenders to get a licensed status without needing to go through the preliminary “registered” entity status. Despite the reduction in bureaucracy, fintech lenders need to go through a fit
CDP, an international environmental non-profit, launched its report titled, ‘How Green Are Biofuels: Understanding the risks and policy landscape in Indonesia’. It aims to assess the evolution of biofuel policies related to palm oil production in Indonesia. Since 2006, the
OJK released new regulations concerning the implementation of risk management in the use of information technology by non-bank financial institutions (NBFIs). The regulation requires NBFIs to have: 1) active supervision by the board of directors and the board of commissioners;
The IMF formally complimented Indonesia after performing a policy assessment that included pandemic management, fiscal stimulus policies, monetary policies, easing macro and micro-prudential policies (stability of financial systems/institutions) and the central bank’s involvement in policy making. Head of Bank Indonesia
Following the Presidential Regulation No.10 of 2021, the Indonesian government now considers the ‘Ínvestment Business Sector’ as a Priority Business field to accelerate investments and job creation. The key eligibility criteria is based on alignment with national strategic programs and
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.
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