Expertise: Perbankan & Keuangan

Indonesia Natural Resources Sector – New Requirements for Depositing Foreign Exchange Export Proceeds into Indonesian Financial System

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The President of Indonesia, Joko Widodo, recently enacted Government Regulation No. 36 of 2023 regarding Foreign Exchange Export Proceeds from the Business, Management, and/or Processing of Natural Resources (“GR 36”). GR 36 stipulates new requirements for exporters of natural resources to deposit their foreign exchange export proceeds (Devisa Hasil Ekspor dari Barang Ekspor Sumber Daya … Indonesia Natural Resources Sector – New Requirements for Depositing Foreign Exchange Export Proceeds into Indonesian Financial System

SSEK Partners Named to Women in Business Law Expert Guide

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SSEK Legal Consultants senior partner Ira A. Eddymurthy and managing partner Fitriana Mahiddin have been recognized in the 2022 Guide to the World’s Leading Women in Business Law, the international legal market’s leading guide to the top female legal practitioners advising on business law. Ira and Fitriana were recognized as follows: Ira A. Eddymurthy – Banking … SSEK Partners Named to Women in Business Law Expert Guide

Indonesia‚ OJK Introduces New Regulation on IT-Based Co-Financing Services

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Indonesia’s Financial Services Authority (Otoritas Jasa Keuangan or OJK) has issued a new regulation on information technology-based co-financing services, which include peer-to-peer (P2P) lending. This new regulation seeks to improve the previous regulation on the peer-to-peer lending sector, OJK Regulation No. 77 /POJK.01/2016 regarding P2P Lending Services (OJK Reg. 77/2016), and support the growth and … Indonesia‚ OJK Introduces New Regulation on IT-Based Co-Financing Services

Corporate Immigration in Indonesia

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SSEK partner Stephen Igor Warokka and Yan Diaz Maulana Siregar, an associate at the firm, have contributed the Indonesia chapter of the new Corporate Immigration Review. The Corporate Immigration Review surveys and analyses the most noteworthy aspects of business immigration law and practice, with a focus on the most consequential recent developments. It also covers key international treaty obligations; … Corporate Immigration in Indonesia

International Secured Transactions – Indonesia

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SSEK partners Ira A. Eddymurthy and Dewi Savitri Reni (Vitri) have contributed the Indonesia chapter to International Secured Transactions, published by Thomson Reuters, in conjunction with the Center for International Legal Studies. International Secured Transactions examines the UNCITRAL (United Nations Commission on International Trade Law) Draft Guide on Secured Transactions, which is designed to promote increased … International Secured Transactions – Indonesia

Indonesia Legal Update: BI Regulations on Payment Systems

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Indonesia\'s central bank, Bank Indonesia (\"BI‚Äù), has issued several regulations that reform the legal framework for payment systems in Indonesia. BI Regulation No. 22/23/PBI/2020 concerning Payment Systems (\"BI Reg 22/2020‚Äù), issued on July 1, 2021, is an umbrella regulation that reclassifies payment system providers into: Payment System Providers (Penyedia Jasa Pembayaran or \"PJP‚Äù), which are … Indonesia Legal Update: BI Regulations on Payment Systems

Fintech in Indonesia – P2P and Marketplace Lending

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In Indonesia, loan agreements in a peer-to-peer lending platform are acknowledged and regulated. Based on Financial Services Authority (OJK) Regulation No. 77/POJK.01/2016 regarding Information Technology-Based Money Lending Services, dated 29 December 2016, there are two agreements in a peer-to-peer lending scheme:   an agreement between the provider of the peer-to-peer lending service (the provider of … Fintech in Indonesia – P2P and Marketplace Lending

Indonesia Oil & Gas Regulation – Currency Exchange Restrictions

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The Indonesian Currency Law and Bank Indonesia (“BI”) Regulation No. 17/3/PBI/2015 regarding the Mandatory Use of Rupiah restrict most transactions within Indonesian territory from being carried out using foreign currency. Core upstream activities in Indonesia are exempted from this requirement for a certain period of time, such as expenditures in relation to the first three … Indonesia Oil & Gas Regulation – Currency Exchange Restrictions