Bank Indonesia has issued Bank Indonesia Regulation Number 6 of 2026 on Bank Indonesia Consumer Protection (“PBI 6/2026”), replacing Bank Indonesia Regulation Number 3 of 2023 on Bank Indonesia Consumer Protection (“PBI 3/2023”). PBI 6/2026 came into effect on 30 June 2026,
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On 2 October 2025, the Minister of Investment/Head of the Investment Coordinating Board issued regulation No. 5 of 2025 (“BKPM Regulation 5/2025”) introducing a lower minimum capital requirement for foreign investment companies (“PT PMA”). Under this regulation, PT PMAs are required to
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Article 875 of the Indonesian Civil Code defines a will (surat wasiat) as a written declaration of a person’s intention regarding matters to take effect after their death, which may be revoked. A will must be made in writing and can be
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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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