25 Jul 2013
REGULATION REGARDING FINANCIAL HEALTH OF INSURANCE AND REINSURANCE COMPANIES
Regulation No. 53/PMK.010/2012 of the Minister of Finance (“MOF”) regarding Financial Health of Insurance and Reinsurance Companies (“Regulation”) which was issued last year has been in force since 1 January 2013. The Regulation revokes the following previous regulations:-Article 21, 22, 28, and 31 of MoF Decree No. 422/KMK.06/2003 on Conduct of Insurance and Reinsurance Business;…
25 Jul 2013
GOVERNMENT'S FEASIBILITY SUPPORT FOR PPP INFRASTRUCTURE PROJECTS
The Minister of Finance on 21 December 2012 issued Regulation No. 223/PMK.011/2012 regarding Provision of Feasibility Support by Funding Part of the Construction Cost of Infrastructure Projects Under the Public-Private Partnership Scheme (“Regulation”). This Regulation was issued to implement the Article 17A of Presidential Regulation No. 56 of 2011 regarding Second Amendment to Presidential…
25 Jul 2013
BI UPDATED ITS REGULATION ON SINGLE PRESENCE POLICY
Bank Indonesia (“BI”) on 26 December 2013 issued Regulation No. 14/24/PBI/2012 regarding Single Ownership in Indonesian Banks (the “Regulation”). The Regulation was issued as an effort of BI to improve the competitiveness of Indonesia’s banking industry in light of the economic development in regional and global levels, by reducing the number of Indonesian banks via consolidation.…