Year Category: 2013

Microfinance Institutions Move Out of Regulatory Black Hole

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Microfinance Institutions (“MFIs”) play an important role in Indonesia, dispensing financial support to people and small businesses that might not have qualified in the traditional banking system. Until recently MFIs largely operated without a comprehensive regulatory framework to guide their operations, and with little supervision. After a long wait the Government has issued a framework … Microfinance Institutions Move Out of Regulatory Black Hole

Indonesian Banks Get New Ownership Rules

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Indonesia’s central bank, Bank Indonesia (“BI”), has issued a regulation designed to improve the competitiveness of the banking system by streamlining bank ownership through consolidation and enhancing supervision, particularly in the area of good corporate governance. BI Regulation No. 14/24/PBI/2012 regarding Single Ownership in Indonesian Banks was issued on December 26, 2012. It addresses what … Indonesian Banks Get New Ownership Rules

Bank Indonesia Regulates Trust Services

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By Maria Yudhitama Eka Dewi Bank Indonesia has issued a regulation to improve the competitiveness of local banks in providing trust services, basically the management of assets. In particular, the new regulation is addressed to oil and gas companies operating in Indonesia, which keep much of their foreign exchange proceeds outside of the country, utilizing … Bank Indonesia Regulates Trust Services

The Effect of Decree 40: Foreigners Are Banned from the Human Resources Arena in Indonesia

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Foreign and foreign-owned enterprises represent some of the largest employers in Indonesia. Accordingly, some foreign companies expressed consternation when, on February 29, 2012, the country’s Ministry of Manpower and Transmigration issued Decree No. 40 of 2012 on Certain Positions that Are Restricted for Foreign Workers (the “Decree”). The Decree, among other things, lists 19 positions that … The Effect of Decree 40: Foreigners Are Banned from the Human Resources Arena in Indonesia

Employment Issues on Transfer of Business by Sale of Assets

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By: Richard D. Emmerson and Rusmaini Lenggogeni Soewito Suhardiman Eddymurthy Kardono recently worked with other leading law firms in the region to produce a comprehensive publication examining the various employment issues surrounding the transfer of business in countries in Asia. In the enclosed Indonesian chapter of this publication, we answer some of the most common questions surrounding … Employment Issues on Transfer of Business by Sale of Assets

Indonesia HR & Employment Law Seminar

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Richard Emmerson, a senior foreign advisor at SSEK and one of Indonesia’s leading labor and employment lawyers, spoke at a seminar on February 28, 2013, at the Mandarin Oriental, Jakarta on Indonesian HR & Employment Law. Addressing more than 50 participants from Indonesia, Singapore and Brunei, Richard examined the challenges and approaches of Indonesian employment … Indonesia HR & Employment Law Seminar