NEW BILL ON TRADE INTRODUCED BY THE HOUSE OF REPRESENTATIVE

After 80 years using a very old Dutch trade law (Bedfrijfsreglementerings Ordonnantie 1934, Staatsblad 1938 Number 86), Indonesia has finally introduced its own Bill on Trade

CHARGES BY THE FINANCIAL SERVICES AUTHORITY (OJK)

As a newly established authority pursuant to Law No. 21 of 2011 on the OJK (“OJK Law”), the OJK requires proper financing to support its operations so that it can carry on its duties and functions independently and professionally, and in accordance with good corporate governance principles

OJK RE-REGULATES FIT AND PROPER TEST REQUIREMENTS FOR NON-BANK FINANCIAL SERVICES

Currently, provisions on fit and proper tests for non-banking financial services are provided separately in several regulations and they apply different standards of fit and proper test procedures and materials

REGULATION ON MINIMUM CAPITAL REQUIREMENT FOR COMMERCIAL BANKS REVISED

In an attempt to increase a bank’s ability to absorb risks, the improvement of a bank’s capital quality and quantity to be in accordance with international standards is deemed necessary

RESTRICTION ON EXPORT OF MINING PRODUCT CONTINUES

The Minister of Trade has promulgated Regulation No. 04/M-DAG/PER/1/2014 on 11 January 2014