BANK INDONESIA REGULATES THE FINTECH BUSINESS

On 14 November 2016, Bank Indonesia officially launched its Financial Technology (or FinTech) Office. The event was followed by the issuance of Bank Indonesia Regulation No.18/40/PBI/2016 on the Organization of Payment Transaction Processing (“PBI 18/40”) that is available through Bank Indonesia’s official website (even though the regulation came into effect on 9 November 2016).

CONSTITUTIONAL COURT RULING ON PRENUPTIAL AGREEMENT

The Constitutional Court on 27 October 2016 ruled on a judicial review application of Articles 21 (1) and (3) and 36 (1) of Law No. 5 of 1960 on Basic Provisions on Agrarian Principles (“Agrarian Law”) and Articles 29 (1), (3) and (4) and 35 (1) of Law No. 1 of 1974 on Marriage (“Marriage Law”) through ruling No. 69/PUU-XIII/2015.