11 Aug 2014

To promote the financial and accountability transparency of People’s Credit Banks (Bank Perkreditan Rakyat or “BPR”), Bank Indonesia Governor issued on the 21st May 2013, Bank Indonesia Regulation Number 15/3/PBI/2013.

Under the regulation, BPRs are obliged to prepare the following:

  • Annual Report, which is prepared in accordance with SAK ETAP Financial Accountancy Standards and Accountancy Guidelines for BPRs. This Annual Report must be submitted at the end of April following the conclusion of the Book Year, or at the end of May for approved delays. After this period, the BPR is considered as having failed to comply with this obligation.
  • Financial Statement Publication, which is a statement to be published regarding the BPR’s financial condition as well as its management structure and shareholders composition. This Financial Statement must be announced to the public at the end of March, June, September and December of every year in an easy-to-read manner. Proof of its announcement must be submitted to Bank Indonesia on the 14th day of the publication month.


The annual financial reports of BPRs with total assets of ten billion Rupiahs or more must be audited by a public accountant. Otherwise, the reports only need to be approved by the BPR’s General Meeting of Shareholders. The regulation also regulates on the public accountants who are to conduct the audit.

A Bank Indonesia Circular Letter will be published to further regulate the matters contained in this regulation.

This regulation has been since the end of 2013. (by: Olivia Saxer)