Indonesia

Indonesia, UAE Agree on Local Currency Settlement Framework

By Editors | 11/05/2024

New MoU outlines a framework to facilitate the settlement of cross-border trade transactions using local currencies.

Securities / Derivatives

Indonesia OJK Issues New Short Selling Regulations

By Editors | 03/05/2024

OJK said the regulations will ensure robust risk management and regulatory compliance by securities companies.

Enforcement

US PCAOB Penalises KPMG, Deloitte for Exam Cheating

By Nithya Subramanian | 11/04/2024

KPMG Netherlands was fined USD 25 million and Deloitte affiliates in Indonesia and Philippines were fined USD 2 million.

AML / KYC

Indonesian President Signs Decree on FATF Membership

By Editors | 09/04/2024

The decree signing strengthens Indonesia’s commitment to participate in combating financial crime globally, said the head of the country’s FIU.

Crypto / Digital Assets

Indonesia’s Crypto Approval Process Will Require Sandbox Testing

By Editors | 04/04/2024

The requirement for crypto firms to be evaluated in a regulatory sandbox prior to authorisation is intended to ensure consumers are protected.

Capital / Liquidity

Indonesia Formally Ends Pandemic Support Measures

By Sanday Chongo Kabange | 03/04/2024

The OJK said Indonesia’s economy has recovered from the pandemic and banks have strong capital, sufficient liquidity and good risk management.

Market Infrastructure

Japan, ASEAN Plan Joint QR Code Payment Services

By Nithya Subramanian | 15/03/2024

A standardised QR code payment system will be developed to connect service providers in different countries, facilitating cashless payments across borders.

Crypto / Digital Assets

Indonesia OJK to Provide Boost to Financial Sector Innovation

By Editors | 11/03/2024

The new regulation refines the regulatory sandbox mechanism to add eligibility criteria and to allow testing in crypto asset products.

ESG / Sustainability

OJK Indonesia Launches Climate Risk Guidance for Banks

By Editors | 10/03/2024

The guidance comprises six books that aim to standardise climate risk management frameworks at banks and establish uniform scenarios and methodologies.