On December 30, 2013, the Indonesian Minister of Manpower and Transmigration (MOMT) issued MOMT Regulation No. 12 of 2013 regarding Procedures for Employing Foreign Manpower (MOMT Reg 12). This new regulation revokes the 2008 MOMT Regulation (No.PER.02/MEN/III/2008) on the same subject. The new regulation contemplates several changes to the previous 2008 regulation and introduces a … New Rules on Hiring Foreigners in Indonesia
Bank Indonesia, Indonesia’s central bank, officially transferred its banking microprudential supervisory powers to the Financial Services Authority (OJK) on December 31, 2013. Agus Martowardojo, the governor of Bank Indonesia, signed the Record of Transfer (Berita Acara Serah Terima) to Muliaman D. Hadad, the Chairman of the OJK’s Board of Commissioners. The OJK now has the … OJK at Full Power After Taking Over Banking Supervision from Bank Indonesia
In a landmark decision on June 20, 2013, the West Jakarta District Court annulled a Loan Agreement entered into between a local borrower and an offshore lender because it was executed in English only. The decision is not controversial in our view since all agreements entered into by an Indonesian party with a foreign party … Indonesian Court Annuls Loan Agreement on Language Law: What Does It Mean for Your Agreements?
