Regulatory Sandbox of OJK

On 15 August 2018, the Financial Services Authority (Otoritas Jasa Keuangan/OJK) of Indonesia issued a new regulation on financial digital innovation in financial services (“POJK 13/POJK.02/2018”). This is a regulatory sandbox version of the OJK.

New Regulation on Capital Investment Licensing and Facilities

In order to implement Government Regulation No. 24 of 2018 which introduced an online system for processing and issuing certain business licenses (known as the Online Single Submission “OSS” system), on 20 July 2018, the Investment Coordinating Board (“BKPM”) issued 2 new regulations on investment, ie BKPM Regulation No. 6 of 2018 on the Guidelines and Procedure for Capital Investment Licensing and Facilities (“Regulation 6/2018”) and Regulation No. 7 of 2018 on the Guidelines and Procedure for Capital Investment Supervision (“Regulation 7/2018”).

Indonesia’s New OSS License Application System: An Update

Following the issuance of Government Regulation No. 24 of 2018 (“GR 24/2018”) introducing an online-based system for processing and issuing certain business licenses, on 10 July 2018, the Investment Coordinating Board (Badan Koordinasi Penanaman Modal – “BKPM”) issued Announcement No. 2/Pengumuman (“Announcement”) stating that the One-Stop Integrated Services (Pelayanan Terpadu Satu Pintu – ”PTSP”) system is still open to provide services.

Regulation No. 24 of 2018 on Online Single Submission

The Indonesian Government has issued Regulation No. 24 of 2018 (“GR 24/2018”), which introduces the Online Single Submission (“OSS”) system.

Strengthening the Supervision of e-Money

Bank Indonesia has issued Regulation No. 20/6/PBI/2018 on Electronic Money (e-Money) (“PBI 20/6”) which revokes the previous regulation on e-Money.