indonesia - Banking & Finance

Minister outlines Four Economic risks in 2019

Jakarta, June 5 (ANTARA News) - The Finance Minister, Sri Mulyani Indrawati, has pointed out four risks that could affect economic performance in 2019.
Date: 05 June 2018; Type: Industry Updates; Source: Antara

Bank Indonesia to prioritize Monetary Policy

Jakarta, May 31 (ANTARA News) - Bank Indonesia will prioritise monetary policy oriented towards exchange rate stability as the Indonesian rupiah weakened by 37 points to RP14,025 from RP13,988 to the US dollar on Wednesday`s opening.
Date: 31 May 2018; Type: Legal News; Source: Antara

Minister believes BI will make Best Decision on Exchange Rate

Jakarta, Apr 27 (ANTARA News) - The Coordinating Minister for Economic Affairs, Darmin Nasution, believes Bank Indonesia (BI) will make the best decision on adjusting its benchmark interest rate to stem the rupiah's weakening.
Date: 27 April 2018; Type: Industry Updates; Source: Antara

Financial System remains stable: BI

Jakarta, Apr 23 (ANTARA News) - The financial system remains stable and the bank intermediation function continues to improve, Bank Indonesia (BI) Executive Director for Communications Agusman stated.
Date: 23 April 2018; Type: Industry Updates; Source: Antara

Indonesian Government issues Bonds in Double Currencies

Jakarta, Apr 18 (ANTARA News) - The Indonesian government has issued dollar-denominated bonds and euro-denominated bonds worth US$1 billion each.
Date: 18 April 2018; Type: Industry Updates; Source: Antara

Indonesian Central Bank gets New Governor

Jakarta, Mar 28 (ANTARA News) - The House of Representatives (DPR), through its Commission XI on banking affairs, in a fit and proper test session on Wednesday endorsed the candidacy of Perry Warjiyo as the new Bank Indonesia (BI) Governor.
Date: 28 March 2018; Type: Industry Updates; Source: Antara

President issues Regulation to eradicate Money Laundering, Terrorism

Jakarta, Mar 14 (ANTARA News) - President Joko Widodo has issued a Presidential Regulation No.13 Year 2018 on the Prevention and Eradication of Money Laundering and Terrorism, the information center of the Cabinet Secretary said here, Tuesday.
Date: 14 March 2018; Type: Legal News; Source: Antara

Government not to propose Budget Revision for Subsidy Change

Jakarta, 13 (ANTARA News) - The government will not propose a revision of the state budget in relation to a change in the ceiling of subsidy due to a fluctuation of global crude prices, a Finance Ministry official said.
Date: 13 March 2018; Type: Legal News; Source: Antara

Bank Indonesia studies Use of Blockchain

Jakarta (ANTARA News) - Bank Indonesia (BI) is studying the use of blockchain, a system in which a record of transactions made in bitcoin or another cryptocurrency is maintained across several computers.
Date: 30 January 2018; Type: Legal News; Source: Antara

Central Bank warns Banks against violating LTV Regulation

Jakarta, Jan 27 (ANTARA News) - Bank Indonesia said the Jakarta administration`s plan to build low cost houses on bank credit without down payment needs legal basis.
Date: 27 January 2018; Type: Legal News; Source: Antara

Bitcoin possesses Potential to fund Terrorism: BI

Denpasar, Bali, Jan 25 (ANTARA News) - Bank Indonesia (BI) stated that the digital currency Bitcoin possesses the potential to be used as terrorism funds and in money laundering crimes as its transactions are being done under a pseudonym.
Date: 25 January 2018; Type: Legal News; Source: Antara

Minister urges People to avoid Trading in Crytocurrencies

Jakarta, Jan 23 (ANTARA News) - Finance Minister Sri Mulyani Indrawati has urged the people to avoid trading in cryptocurrencies, as such digital assets are not regulated by law.
Date: 23 January 2018; Type: Legal News; Source: Antara

Bank Indonesia bans Virtual Currency as Means of Payment

Jakarta, Jan 13 (ANTARA News) - Bank Indonesia (BI) has banned the use of virtual currency, including bitcoin, as a means of payment in the country. Based on Law No.7 of 2011 on Currency, any transaction intended to make payments or settle other obligations using currency or other financial transactions made in the Indonesian territory must us ...
Date: 13 January 2018; Type: Legal News; Source: Antara

Finance Service Authority issues Green Bonds, e-Registration

Jakarta, Dec 30 (ANTARA News) - The Financial Services Authority (FSA) has issued several regulations to support and encourage government programs, especially in infrastructure development at the regional level through local bonds, green bonds, and business process acceleration through e-registration.
Date: 30 December 2017; Type: Legal News; Source: Antara

Court Verdict confirms Names having Share of e-KTP Embezzled Money

Jakarta, Dec 21 (ANTARA News) - The court verdict on corruption suspect Andi Narogong has confirmed allegation against a number of others having a share of a huge embezzled fund of electronic identity card (e-KTP) project including former House Speaker Setya Novanto.
Date: 21 December 2017; Type: Legal News; Source: Antara

Syarif R Martakusumah v PT Bank Central Asia Tbk

Date: 28 February 2017; Court: Supreme Court of Indonesia; Citation: SC No. 528 K/Pdt/2016 ; Source: Supreme Court of Indonesia

BI issues Export-Import Regulation using Baht, Ringgit

Jakarta, Nov 28 (ANTARA News) - The central bank of the Republic of Indonesia, Bank Indonesia (BI), has issued technical regulations to settle trade transactions between Indonesia and Malaysia using Ringgit, as well as between Indonesia and Thailand using Baht, in order to reduce dependence on certain currencies and maintain exchange rate stability ...
Date: 28 November 2017; Type: Legal News; Source: Antara

OJK issues Permits to 10 Islamic Microfinance Institutions (LKM)

Cirebon, Oct 20 - The Financial Services Authority (OJK) has granted operating licenses to 10 (ten) Islamic microfinance institutions (Islamic LKM), which are expected to empower communities and raise public welfare, particularly in relation to those living in Islamic boarding schools and surrounding areas.
Date: 20 October 2017; Type: Legal News; Source: Financial Services Authority Indonesia

Investment Alert Task Force suspends 14 Business Activities to protect Public

Jakarta, Oct 23 - The Task Force for Handling Alleged Unlawful Acts involving Public Funds Collection and Investment Management (the Investment Alert Task Force) this October suspended unauthorized public funds collection and investment management carried out by 14 entities.
Date: 23 October 2017; Type: Legal News; Source: Financial Services Authority Indonesia

Government prepares New Micro Business Loan for Production Sector

Jakarta, Oct 28 (ANTARA News) - The government is preparing a new micro business loan (KUR) scheme to accelerate the distribution of loans to the production sector, Coordinating Minister for Economic Affairs Darmin Nasution stated.
Date: 28 October 2017; Type: Legal News; Source: Antara

INDUSTRY UPDATES

DOJ-OOC continues Conduct of Judicial Training on Cybercrime for the ASEAN Prosecutors and Judges

The Department of Justice - Office of Cybercrime (DOJ-OOC), in partnership with the Supreme Court of the Philippines and the Global Action on Cybercrime Extended (GLACY+) Project, is set to conduct the Advanced Judicial Training Course on Cybercrime and Electronic Evidence for Judges, Magistrates and Prosecutors for the ASEAN Region in Cebu, Philippines on 19-22 June 2018.

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INDUSTRY UPDATES

DOJ Chief: Amended Constitution must clarify Impeachment Rules

MANILA, June 21 (PNA) - The country's Constitution, once amended, must clarify the rules on impeachment to avoid controversies in the future, Justice Secretary Menardo Guevarra said on Thursday.

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INDUSTRY UPDATES

Guevarra on granting Fox's Appeal: 'it's following the Rule of Law'

MANILA, June 21 (PNA) - Justice Secretary Menardo Guevarra on Thursday clarified that he is just following the rule of law when he granted the appeal of Australian nun Sr. Patricia Fox to reverse the Bureau of Immigration's decision forfeiting her visa and ordering her to leave the country.

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INDUSTRY UPDATES

UK eases Visa Application Processes for Indonesian Students

Jakarta, June 20 (ANTARA News) - The United Kingdom (UK) Visas & Immigration service is easing visa application processes for Indonesian students by reducing the documentation requirements for Tier-4 student visa applicants.

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INDUSTRY UPDATES

Indonesia, Finland achieve Significant Increase in Bilateral Ties

Jakarta, June 21 (ANTARA News) - Indonesia and Finland have achieved a significant increase in bilateral ties in 2017, Indonesian Foreign Minister Retno LP Marsudi said.

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INDUSTRY UPDATES

Some Workers at Thai Factory agree to Compensation

Half of the nearly 300 Myanmar workers who were sacked by a fishing net factory in Thailand have agreed to a promise by their employer to pay them 13 days of unpaid wages.

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INDUSTRY UPDATES

KPKT reviews National Housing Policy - Zuraida

KUCHING, June 21 (Bernama) - The Ministry of Housing and Local Government (KPKT) is reviewing the national housing policy to ensure it is suitable to the current situation in the country, said its minister Zuraida Kamaruddin.

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INDUSTRY UPDATES

Government under rising pressure to correctly tax Ride-Hailing Companies

Since June 13, ride hailing companies operating in Yangon have been obliged to pay income and commercial tax to the Yangon government under the law, U Myint Thaung, regional minister of Planning and Finance said in parliament.

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INDUSTRY UPDATES

PM Prayut: Death Penalty is Legitimate and most People agree

BANGKOK, June 20 (NNT) - The Prime Minister, Gen. Prayut Chan-o-cha, has voiced support for the execution of convicted murderers.

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INDUSTRY UPDATES

Government welcomes Opinions about Implementation of Thailand 4.0 Policy

BANGKOK, June 19 (NNT) - The government continues efforts to implement the Thailand 4.0 policy while welcoming opinions from all sides on helping to achieve its goal.

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INDUSTRY UPDATES

On World Refugee Day, De Lima files Bill to protect Refugees and Stateless Persons

In observance of World Refugee Day, Opposition Senator Leila M. de Lima today filed a measure seeking to promote and protect the rights of refugees and stateless persons in the country and prescribe a fair procedure for their status determination and eligibility.

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INDUSTRY UPDATES

MoF invites Feedback on proposed changes to the Income Tax Act

The Ministry of Finance have invited interested parties to provide feedback on the draft Income Tax (Amendment) Bill 2018 from 20 June to 11 July 2018.

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INDUSTRY UPDATES

Labor Ministry aims to find Jobs for 100,000 Unemployed Graduates

BANGKOK, June 19 (NNT) - The Labor Minister, Pol. Gen. Adul Sangsingkeo, said the Ministry of Labor aims to find jobs for about 100,000 unemployed graduates within three months.

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INDUSTRY UPDATES

Ex-President Aquino sued over DAP Mess

MANILA, June 20 (PNA) - Ombudsman Conchita Carpio Morales has indicted former President Benigno Simeon Aquino III for usurpation of legislative powers in connection with the alleged anomalous Disbursement Acceleration Program (DAP).

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INDUSTRY UPDATES

Duterte appoints CA, Sandiganbayan Associate Justices

MANILA, June 20 (PNA) - President Rodrigo R. Duterte has appointed new associate justices at the Court of Appeals (CA) and Sandiganbayan. Duterte appointed Emily Aliño-Geluz as CA Associate Justice and Georgina Dumpit Hidalgo as Sandiganbayan Associate Justice.

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