NEW BANK INDONESIA REGULATIONS
On 29 December 2010 Bank Indonesia issued a new regulation related to Offshore Loan Reporting to Bank Indonesia. This was followed by the issuance of its implementing regulation on 20 January 2011.
Download read moreLAW NO. 24 OF 2009 ON THE NATIONAL FLAG, LANGUAGE, EMBLEM AND ANTHEM (FEBRUARY 2010)
Law No. 24/2009 is having an unsettling effect on business in Indonesia. Despite the fact that no implementing regulations have been issued and there is a general consensus the failure to conclude an Indonesian version of an agreement should not invalidate it, risk averse parties and parties who in a position to push translation costs onto a counter-party are requiring the production of Indonesian translations of a wide range of legal documents.
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