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Standard Chartered partners with Bukalapak to launch digital banking service
Standard Chartered and Bukalapak will be launching a new mobile application for digital banking services. This application will provide a completely digital onboarding process without in-person verification. This innovation combines the benefits of e-commerce platforms’ reach and banking-as-a-service to provide
New regulation mandating modern retailers to provide 30% of retail space for MSMEs
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
Indonesia’s financial services sector performance
The Financial Services Authority (OJK) evaluated the performance of Indonesia’s financial services sector to be solid, with capital availability and well-maintained credit risk management. OJK also highlighted the need for the financial services sector to monitor non-conventional metrics to manage
Line to enter digital banking in Indonesia
Line, the messaging app-provider, announced its plans to launch Line Bank, a digital bank, in Indonesia, Taiwan and Thailand. In Indonesia, Line Bank is supported by PT Bank KEB Hana Indonesia. Line Bank will offer online banking services including deposit
Renewable energy sector has the potential to achieve net-zero carbon target by 2050
Institute for Essential Services Reform (IESR), civil-society think tank, has reported that Indonesia’s energy sector is capable of achieving its zero-carbon emissions target by 2050. This requires strong political commitment and policy support, and the next decade will be decisive
Green credit needs to begin with the companies and sectors in sustainability
Aviliani, a senior economist at the Institute for Development of Economics and Finance (INDEF), shared that the banks’ commitment to green credit remains low due to the low levels of firms in sustainable sectors. Currently, two state-owned banks have stated
IFC research highlights women’s critical role in digital economy in SEA
IFC research shares that the Southeast Asia (SEA) e-commerce market has the potential to reach >US$ 280 billion in 2025-2030. Increasing the number of women merchants on online platforms would help realize this potential. The Covid-19 pandemic has accelerated the
Bulog partners with TaniHub for agri-product distribution and marketing
Bulog and TaniHub, agriculture startup companies, are partnering to strengthen national food security. The partnership covers various parts of the agricultural supply chain, from warehouse distribution networks to product marketing and farm finance. Given Bulog’s nationwide network of warehouses and
Fintech companies take minority stake in banks
Kredivo, a fintech peer-to-peer company (P2P), acquired 24% of PT Bank Bisnis Internasional Tbk (BBSI) shares valued at US$38.5 million (IDR 551.31 billion). The management of BBSI shared that the change in share ownership had no impact on business operations.
Almost 20% of MSMEs have digitized during the pandemic
Many MSMEs reported a rise in incomes due to business digitization and ability to reach a wider customer base. During the pandemic, ~12 million MSMEs switched to online platforms to sell their products. The government is targeting 18 million more
