On 5 June 2025, the Indonesian Government issued Government Regulation on Risk-Based Business Licensing No.28/2025 (“GR 28/2025”), replacing Government Regulation No. 5/2021 (“GR 5/2021”) on the same matter. The goal of this new regulation is to enhance regulatory certainty for businesses in
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The Financial Services Authority (“OJK”) in carrying out its supervisory duties, is vested with the authority to issue written order (or perintah tertulis) to Financial Services Institutions (“LJK”) and/or “certain parties” (or pihak tertentu). Any issuance of written orders by OJK is
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While the obligation for Indonesian financial services institutions to compose and implement anti-fraud strategy generally exists, the fact that there is considerable amount of fraud cases transpired in financial service institutions has driven OJK to improve the regulation as well as to
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Based on mandate of Law No. 4 of 2023 on Development and Strengthening of Financial Sector and in conjunction with Bank Indonesia Regulation No. 3 of 2023 on Consumer Protection of Bank Indonesia, Bank Indonesia has issued Bank Indonesia Regulation No. 3
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OJK has just issued Regulation No. 4 of 2024 on Report on Ownership or Any Change of Ownership in Public Company and Report on Activity in Securing of Shares of Public Company (“POJK 4/2024”). POJK 4/2024 however will only come into effect
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Further to Law No. 4 of 2023 on Development and Strengthening of Financial Sector (“P2K Law”), Bank Indonesia (“BI”) issues Regulation No. 6 of 2023 on Money Market and Foreign Exchange Market (“PBI 6/2023”) on 27 June 2023. Communities in financial sector
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