As mandated in Law No. 21 of 2011 regarding the Financial Services Authority (OJK Law), supervision of Indonesia’s capital markets and non-bank financial institutions was transferred from the Capital Market and Financial Institution Supervisory Agency (Bapepam-LK), part of the Ministry of Finance, to the OJK as of December 31, 2012. Oversight of the banking industry … Indonesian Financial Services Authority in Review
The Financial Services Authority (Otoritas Jasa Keuangan or OJK), the financial services supervisory body in Indonesia, issued more than 30 regulations in 2014 covering capital markets, banks and non-bank financial institutions. Muliaman Hadad, the chairman of the Board of Commissioners of the OJK, issued a statement that the enactment of the regulations supported the goals … Indonesian Financial Regulation: A Year in Review
In furtherance of Indonesia’s commitment to welcome the implementation of the ASEAN Economic Community (AEC) in 2015, Presidential Regulation Number 39 Year 2014 regarding List of Business Fields Closed to Investment and Business Fields Open, with Conditions, to Investment, dated April 24, 2014 (the 2014 DNI), continues to treat foreign investors from ASEAN countries differently … Indonesian Negative Investment List vs. Cabotage Principle: ASEAN Investors Afloat in a Sea of Uncertainty in Indonesia
By Dewi Mayangsari Foreign parties that wish to invest in Indonesia directly must follow the rules for foreign direct investment in the relevant business sector. The foreign investor must first establish a limited liability company (PMA Company) to engage in business in Indonesia. The PMA Company will be licensed by the Indonesian Capital Investment Coordinating … Investing in Indonesia: Advertising and Marketing Sector
By Syahdan Z. Aziz Public-private partnerships (PPPs) interest infrastructure investors in Indonesia for a number of reasons. PPP sets forth the arrangement for cooperation between the Government and private business entities in infrastructure procurement to accelerate the development of adequate and needed infrastructure. There are advantages to the PPP scheme, including the availability of government … An Eye on PPP in Indonesia
Continued growth in electronic transactions has resulted in electronic signatures, or e-signatures, becoming more common in daily transactions. In this article we discuss the use and applicability of e-signatures in Indonesia and the relevant regulations under Indonesian law. Introduction and definition E-signatures were unregulated in Indonesia until the enactment of Law No. 11 of 2008 … Indonesian Rules on E-Signatures
Compliance is an important issue for foreign investment companies doing business in Indonesia. As international organizations, foreign investment companies are not only required to comply with the laws and regulations of the country of origin of their parent companies but also with relevant laws and regulations in Indonesia. Due to the Capital Investment Coordinating Board … Compliance Road Map for Companies in Indonesia
By Michael S. Carl, Andini Dewi and Bambang Dhanisworo Defamation under Indonesian law involves the issuance of a defamatory statement that causes a person to suffer harm. The term defamation is often used to encompass both slander (penistaan) and libel (penistaan dengan surat). Defamation is governed in the Indonesian Criminal Code under Chapter XVI, which covers … Defamation under Indonesian Law
By Alvin Saptamandra Suryohadiprojo Indonesia enacted a new Condominium Law in 2011 (Law No. 20 of 2011 regarding Condominiums or the “New Condominium Law”). It replaced Law No. 16 of 1985 regarding Condominiums (the “Old Condominium Law”). The implementing regulations of the New Condominium Law were to be issued at the latest one year after … A Closer Look at Indonesian Condominium Law
Indonesia’s Language Law (Law No. 24 of 2009) took effect on July 9, 2009. It regulates the practices and procedures for using the Indonesian flag, emblems, national anthem and language. In 2013, the West Jakarta District Court issued a groundbreaking decision concerning the use of the Indonesian language in commercial agreements made with an Indonesian … Indonesian Language Law from the Perspective of the Courts
