26 Jan 2018
MoF Regulation 95/PMK.08/2017: Updated Rules on Granting Government Guarantees in Infrastructure Sector
Ministry of Finance (“MoF”) Regulation No. 95/PMK.08/2017 was issued on 19 July 2017 as an implementation regulation for Government Regulation (“GR”) No. 50/2016 on the amendment of GR No. 35/2009, which envisages the setting up of state-owned Badan Usaha Penjaminan Infrastruktur (Infrastructure Guarantee Corporations / “BUPI”). The only BUPI established to date…
26 Jan 2018
New OJK Regulation on Single Presence Policy
A new OJK regulation on the Single Presence Policy in Indonesian Banking (“POJK 39/2017”), which revokes Bank Indonesia Regulation No. 14/24/PBI/2012 (“PBI 14/2012”), was issued on 12 July 2017 by the Financial Services Authority (Otoritas Jasa Keuangan or “OJK”). POJK 39/2017 was followed a week later by OJK Circular Letter No. 44/SEOJK.03/017 (“OJK Circular”),…
26 Jan 2018
New Rules on Employment of Expatriates in Banking Sector
The Financial Services Authority (“OJK”) has issued Regulation No. 37/POJK.03/2017 (“OJK Reg. 37”), which sets out new rules on the employment of expatriates and the transfer of knowledge in the banking sector. OJK Reg. 37 revokes Bank Indonesia (“BI”) Regulation No. 9/8/PBI/2007 (“BI Reg. 9”). The following provisions of OJK Reg. 37 are of particular…