© Collyer Law LLC, 2015-19. All Rights Reserved.
Collyer Law LLC (UEN 201536126Z) is a limited liability law corporation licensed and regulated by the Legal Services Regulatory Authority.

Indonesia Fintech Regulatory Developments - July 2017

July 12, 2017


OJK, BRI form fintech advisory forum


The financial regulator, OJK and central bank (BRI) have formed a fintech advisory forum. The Advisory Forum is to set the direction for the FinTech industry and its development in the coming years. The advisory forum will initiate cooperation between government agencies and the stock exchange, the police, associations related to banks, companies and government ministries. Issues to be covered include consumer protection, money laundering, terrorism financing, and the stability of the financial system.


OJK Board of Commissioners in place


Supreme Court Chief Justice H. Muhammad Hatta Ali swore in and inaugurated the Chairman and Members of the Board of Commissioners of the Financial Services Authority (OJK) for the upcoming period of 2017 – 2022. The swearing-in was conducted at the Supreme Court office in Jakarta. The new Board of Commissioners of the OJK now consists of the following members:


—-Deputy Chairman as the Chairman of Ethics Committee;

—-Executive Chairman of Banking Supervisory;

—-Executive Chairman of Capital Market Supervisory;

—-Executive Chairman or Supervisor of Insurance, Pension Funds, Financing Companies, and other Financial Services Companies;

—-Chairman of Audit Board;

—-Member who is in charge of consumer education and protection division;

—-Ex-officio member from Bank Indonesia who serves in the Board of Governors of Bank Indonesia; and

—-Ex-officio member from the Ministry of Finance who is a first-echelon official of the Ministry.


OJK issues regulations on sustainable finance


The Financial Services Authority (OJK) has issued a number of regulations, including one concerning sustainable finance, a capital market regulation on infrastructure financing, two capital market regulations on the development of small and medium-sized enterprises, and a circular regarding terrorism funding.


For full version of Collyer-Bytes, please contact Isa.Seow@collyerlaw.com to subscribe. 


Share on Facebook
Share on Twitter
Please reload

Featured Posts

Collyer Law wins "India Practice - Asian Law Firm of the Year" at the ALB India Law Awards 2020

February 27, 2020

Please reload

Recent Posts
Please reload