Expertise: Financial services

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

Indonesia Issues Regulation Clearing Way for Trading of 229 Cryptoassets

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Indonesia’s Commodity Futures Trading Supervisory Body (Badan Pengawas Perdagangan Berjangka Komoditi or “Bappebti”) has issued the long-awaited list of cryptoassets that can be traded in Indonesia. This list of approved cryptoassets is contained in Bappebti Regulation No. 7 of 2020 regarding the Stipulation of the List of Cryptoassets that Are Allowed to Be Traded in … Indonesia Issues Regulation Clearing Way for Trading of 229 Cryptoassets

Fintech in Indonesia – Financial Regulation

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Fintech products and services in Indonesia are mainly regulated by two government bodies, Bank Indonesia and the Financial Services Authority (OJK). Bank Indonesia Regulation No. 19/12/PBI/2017 regarding the Organization of Financial Technology, dated 30 November 2017, regulates fintech activities that require licensing or registration in relation to monetary stability, financial system stability and payment systems, … Fintech in Indonesia – Financial Regulation

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 Assists Leading Investment App in Entering Indonesia Market

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SSEK has assisted PT Raiz Invest Indonesia in obtaining a Mutual Funds Sales Agency (APERD) license from Indonesia’s Financial Services Authority (OJK). Our work included drafting all the required documents for the APERD license and liaising with OJK officials. This was the first time in Indonesia that a foreign direct investment company had obtained an … SSEK Assists Leading Investment App in Entering Indonesia Market

Peer-to-Peer Lending in Indonesia: A Regulatory Update

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In February of this year, the Indonesian Financial Services Authority (Otoritas Jasa Keuangan or “OJK”) issued an updated checklist for peer-to-peer lending (“P2P lending”) platform providers (“Checklist”) registering with the OJK or applying to the body for a business license or change of ownership. The new Checklist introduces several changes to the previous checklist issued in … Peer-to-Peer Lending in Indonesia: A Regulatory Update

Indonesia’s OJK Issues Regulation on Fit and Proper Test Reassessment

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The Indonesian Financial Services Authority (Otoritas Jasa Keuangan or “OJK“) has issued a regulation that sets the guidelines for a fit and proper reassessment of the primary parties of a financial services institution, including the scope, procedure, results and consequences of such reassessment. OJK Regulation No. 34/POJK.03/2018 regarding Fit and Proper Test Reassessment for the … Indonesia’s OJK Issues Regulation on Fit and Proper Test Reassessment

Indonesian Central Bank Regulates Financial Technology

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Indonesia’s central bank has for the first time issued a regulation designed to deal with financial technology (“fintech”) in general. Bank Indonesia (“BI”) Regulation Number 19/12/PBI/2017 regarding the Provision of Financial Technology, dated November 30, 2017 (“Reg. 19/2017”), was made public by BI on December 7. The stated aim of Reg. 19/2017 is to regulate … Indonesian Central Bank Regulates Financial Technology

Bank Indonesia Issues Rules for Payment System Service Providers

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Bank Indonesia (BI) has issued a circular letter on licensing procedures and requirements related to payment system transactions in Indonesia. BI Circular Letter No. 18/41/DKSP regarding the Implementation of Payment Transaction Processing, dated December 30, 2016 (the Circular Letter), is an implementing regulation for BI Regulation No. 18/40/PBI/2016 on the Implementation of Payment Transaction Processing … Bank Indonesia Issues Rules for Payment System Service Providers