Expertise: Banking & Finance

Fintech in Indonesia – Consumer Lending

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Consumer lending is regulated in Indonesia, with a particular focus on information technology-based money lending services (peer-to-peer lending), as regulated under Financial Services Authority (OJK) Regulation No. 77/POJK.01/2016 regarding Information Technology-Based Money Lending Services, dated 29 December 2016. The OJK has the authority to regulate, register and issue licenses, as well as supervise the fintech … Fintech in Indonesia – Consumer Lending

SSEK Partner Ira Eddymurthy Named a Leading Lawyer for Banking in Indonesia

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Ira A. Eddymurthy, a founding partner of SSEK Legal Consultants, has been recognized as a leading lawyer in Indonesia for banking in the 2020 edition of Who\'s Who Legal: Banking. Ira was one of only five lawyers recognized in Indonesia. Ira is a supervising partner of SSEK\'s banking and finance practice. Who\'s Who Legal notes that Ira … SSEK Partner Ira Eddymurthy Named a Leading Lawyer for Banking in Indonesia

COVID-19: KPPU and OJK Address Mergers Between Problematic Banks in Indonesia

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By Ira A. Eddymurthy and Indrawan D. Yuriutomo In response to the COVID-19 pandemic and its possible effect on the banking and financial sectors, Indonesia\'s Financial Services Authority (Otoritas Jasa Keuangan or \"OJK‚Äù) has issued a regulation to encourage mergers between problematic banks. OJK Regulation No. 18/POJK/03/2020 regarding Written Order to Handle Problematic Banks (“POJK 18/2020“) … COVID-19: KPPU and OJK Address Mergers Between Problematic Banks in Indonesia

Indonesia’s OJK Issues Regulation on Quick Restructuring for Troubled Banks in Wake of COVID-19

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The COVID-19 global pandemic has taken a toll on the Indonesian economy, underlining the need for financial institutions to have adequate liquidity in the face of uncertain times. In response, the Indonesian government issued Government Regulation in Lieu of Law No. 1 of 2020 on State Financial Policy for the Handling of COVID-19 and/or Other … Indonesia’s OJK Issues Regulation on Quick Restructuring for Troubled Banks in Wake of COVID-19

SSEK Partner Ira Eddymurthy Named a Leading Lawyer for Banking in Indonesia

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Ira A. Eddymurthy, a founding partner of SSEK Legal Consultants, has been recognized as a leading lawyer in Indonesia for banking in the 2020 edition of Who\'s Who Legal: Banking. Ira was one of only five lawyers recognized in Indonesia. Ira is a supervising partner of SSEK\'s banking and finance practice. Who\'s Who Legal notes that … SSEK Partner Ira Eddymurthy Named a Leading Lawyer for Banking in Indonesia

SSEK Gives Presentation to Indonesia’s OJK

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SSEK recently gave a presentation to the Financial Services Authority (Otoritas Jasa Keuangan or “OJK”) on the transfer of non-performing loans. The event was part of the OJK’s knowledge exchange program, which brings together members of the OJK and practitioners from leading Indonesian law firms like SSEK. About SSEK SSEK is a leading full-service corporate … SSEK Gives Presentation to Indonesia’s OJK

SSEK Leads e-Money and Anti-Money Laundering Training

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SSEK recently led a half-day corporate legal training event on electronic money and anti-money laundering in Indonesia. The training was provided for a leading Indonesian payments, rewards and financial services platform.

SSEK Successfully Assists Client with E-Money License Application

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SSEK has assisted its client in successfully negotiating the document compliance process as part of its application for an e-money license from Bank Indonesia. As part of the due diligence exercise to support the client, the SSEK team ensured that the required compliance-related documentation was provided as required under the current central bank regulatory framework. … SSEK Successfully Assists Client with E-Money License Application

Indonesian Central Bank Issues Regulation on Reporting of Foreign Exchange Activities

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Indonesia’s central bank, Bank Indonesia (“BI”), has issued BI Regulation Number 21/2/PBI/2019 concerning the Reporting of Foreign Exchange Activities (“Regulation 2/2019”). This new regulation introduces several changes from the previous regulation on said activities, BI Regulation Number 16/22/PBI/2014 on the Reporting of Foreign Exchange Activities and the Reporting of Prudential Principles Activities in the Management … Indonesian Central Bank Issues Regulation on Reporting of Foreign Exchange Activities