09 Apr 2025
A Comparative Review of Insurance Company Liquidation Procedures applicable under 2015 regulations as against the latest regulatory updates that were introduced in 2024
As Indonesia’s financial regulatory landscape evolves, the Financial Services Authority (Otoritas Jasa Keuangan/ “OJK”) continues to refine its policies to address the sector’s changing needs.In 2024, the OJK released OJK Regulation No. 38 of 2024 (“POJK 38/2024”), which governs the dissolution and liquidation of insurance companies. This regulation amends and supplements OJK Regulation…
25 Mar 2025
Danantara and the Future of SOEs: What will change?
In February 2025, Indonesia enacted amendments to its Law on State-Owned Enterprises (SOE Law), [1] introducing major reforms to the regulation of SOEs.A key development under this law is the launch of Daya Anagata Nusantara (Danantara), being Indonesia’s new sovereign wealth fund.Primary changes under these amendments include: the introduction of an expanded definition of State-Owned…
11 Mar 2025
OJK Unveils New Regulation to Strengthen Issuers and Public Companies
To align withLaw No. 4 of 2023 onFinancial Sector Development and Reinforcement Law (“P2SK Law”) which amends several financial sector regulations, including Law No. 8 of 1995 on Capital Markets (“Capital Markets Law”), the Financial Services Authority (Otoritas Jasa Keuanganor “OJK”) has introduced a new regulation: OJK Regulation No. 45 of 2024 on Issuers and Public Companies Development…
04 Mar 2025
The 200 Club: Indonesia's Most Influential Lawyers by Hukumonline
We are delighted to announce that several of our esteemed partners have been recognized among Indonesia's Most Influential Lawyers, reflecting their unwavering dedication and exceptional legal expertise.Agus Ahadi Deradjat is distinguished in corporate law, M&A, foreign direct investment (FDI), and technology, media, and telecommunications. His strategic insights have been pivotal in guiding…
21 Feb 2025
Redefining the Principle of Utmost Good Faith: Judicial Review on Article 251 of the Indonesian Commercial Code
In a landmark decision on January 3rd, 2025, the Indonesian Constitutional Court (Mahkamah Konstitusi, or MK) reshaped the landscape of insurance contracts by ruling on Case No. 83/PUU-XXII/2024. The case challenged the constitutionality of Article 251 of the Indonesian Commercial Code (Kitab Undang-Undang Hukum Dagang, or ICC), a provision central to the principle of utmost good faith (uberrimae…
14 Feb 2025
OJK Reg. 36/2024: What’s Changing for Insurance Operations?
BackgroundOn 20 December 2024, the Indonesian Financial Services Authority (OJK)introduced changes to the operations of insurance and reinsurance companies,including Sharia-compliant entities, with the release of OJK Regulation No. 36 of 2024 on Business Operations of Insurance Companies, Sharia Insurance Companies, Reinsurance Companies, and Sharia Reinsurance Companies[1] (“Reg. 36/2024”).This…
03 Feb 2025
Indonesia: Starting off the year with a new era for crypto trading under OJK's helm
The Indonesian cryptocurrency landscape is on the brink of transformation. Through the Indonesian Financial Services Authority (Otoritas Jasa Keuangan,“OJK”)Regulation No. 27 of 2024[1] (“OJK Reg. 27/2024”) effective from January 10, 2025, the regulatory framework for crypto trading has shifted from the Commodity Futures Trading Supervisory Agency (“Bappebti”)[2] to the OJK. This change marks…
21 Jan 2025
ABNR Shines in 2025 Legal 500 Asia Pacific Rankings
We are thrilled to announce that ABNR has once again demonstrated its excellence, securing top-tier rankings in the 2025 Legal 500 Asia Pacific, published on January 15.Top-Tier Practice AreasABNR is proudly ranked as a Tier-1 firm in nine practice areas:Antitrust & CompetitionAviationBanking & FinanceLabour & EmploymentProjects & EnergyReal EstateRestructuring & InsolvencyTMT…
16 Jan 2025
Unbundling Electricity Business Activities: A Threat to State Control?
On 29 November 2024, the Indonesian Constitutional Court (Mahkamah Konstitusi or “MK”) issued decision number 39/PUU-XXI/2023 (“MK Decision 39”) which might affect the Independent Power Producer (“IPP”) business scheme in Indonesia due to its “unbundling” nature.Unbundling Electricity BusinessThe concept of unbundling electricity business activities is outlinedin Article 10, paragraphs (1) and…
04 Jan 2025
OJK Releases New Guidelines for the Implementation of Sharia-Based Products
Indonesia’s Financial Services Authority (“OJK”) has taken a major step towards advancing regulation and consistency of the country’s sharia banking sector with the introduction of new guidelines for sharia-based banking products. Issued in October 2024, these guidelines are designed to reinforce the distinctive characteristics of sharia banking and highlight its unique competitive advantages, distinguishing…