29 Nov 2021
Omnibus Law Declared ‘Conditionally Unconstitutional’: What Exactly Does it Mean?
In a decision published on 25 November 2021, the Indonesian Constitutional Court (“the Court”) ruled that Law No. 11 of 2020 on Job Creation (colloquially, the Omnibus Law) is “conditionally unconstitutional”. Amending or repealing 78 statutes in the economic field, the Omnibus Law was hailed as the most significant legal reform in Indonesia since the adoption of the Civil…
15 Nov 2021
Indonesia’s State Enterprises Ministry Introduces Overhaul of SOE Directors’ Selection Process
A. Introduction In order to improve the quality and accountability of new appointees to directorships in State-Owned Enterprises (“SOE Directors”), the Ministry of State-owned Enterprises (“SOE Ministry”) has issued Regulation No. Per-11/MBU/07/2021 on Requirements and Procedures for the Appointment and Removal of Directors of SOEs (“Reg. 11/2021“),[1] which revokes…
02 Nov 2021
Bank Indonesia Issues New Regulation to Boost Quality of Customer Services
In early September, the central bank, Bank Indonesia (“BI”), issued a new regulation (“PBI 23/2021”[1]) to deliver more easily accessible and better integrated services to its customers. BI customers include the Ministry of Finance, other central government institutions; local governments; non-bank state-owned enterprises; international financial institutions; foreign central…