Indonesia’s Financial Services Authority, or OJK, is expected to sign a bilateral agreement with China’s financial authority within the first three months of the year to pave the way for Indonesian lenders to expand into China.
Bank Indonesia and the Financial Services Authority are discussing the possibility of allowing the trading of short-term sukuk or Islamic bonds in a move that could diversify sharia financial products and help sharia banks raise cash in the market.
The Financial Services Authority (OJK) is planning to issue a revised regulation on sharia banks’ minimum capital requirement to assist lenders in the face of a wider scope of risks.
All financial service institutions supervised under the Financial Services Authority are urged to give out loans to companies that comply with environment-friendly practices.
The Financial Services Authority (OJK) says it will coordinate closely with Bank Indonesia (BI) to improve the banking system in the country.
Indonesia’s central bank and several big commercial lenders signed a repurchase agreement, in a move to bolster the domestic money market and elevate the nation’s sovereign debt status.
Bank Indonesia (BI) transfers banking regulatory and supervisory functions to Financial Service Authority (OJK).
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