26 Mar 2014

In furtherance of its Regulation No. 15/1/PBI/2013 (“PBI 15/2013”) regarding Credit Information Management Institution or Lembaga Pengelola Informasi Perkreditan (“LPIP”), Bank Indonesia issued, on 5 December 2013, its Circular Letter No. 15/49/DPKL of 2013 regarding Credit Information Management Institution (“Circular 15/2013”).

This Circular 15/2013 contains provisions for the implementation of PBI 15/2013.  We highlight the following provisions:


  • LPIP is placed under National Credit Information System (Sistem Informasi Perkreditan Nasional or “SIPNAS”). 
  • Any Indonesian legal entity can be a shareholder of a LPIP. The maximum shareholding in an LPPI is 51%.
  • Indirect foreign ownership in a LPPI is possible. Section II.A.4  of Circular 15/2013 provides specific requirements for this foreign ownership, among others:

a. Maximum total foreign ownership in one LPIP is 20%;
b. A foreign entity’s total combined shareholding in LPIPs must not exceed 20%; and
c. Foreign shareholders in an LPIP must fulfill the requirement of three years experience in credit information management in their country of origin.

  • Private parties wishing to establish a LPIP must apply for a Principle Approval and Business License to Bank Indonesia.
  • A fee is payable to Bank Indonesia for accessing credit information.



Under the SIPNAS, credit information can be accessed through the LPIP, which obtains the information not only from Bank Indonesia but also from financial and non-financial institutions. (By: Sarah Faisal Rosa)