indonesia - Banking & Finance

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

House passes State Budget Bill into Law

Jakarta, Oct 25 (ANTARA News) - The House of Representatives (DPR) passed the 2018 state budget bill into law at its plenary meeting here on Wednesday.
Date: 25 October 2017; Type: Legal News; Source: Antara

Frangky Hoetomo, S Kom v PT Bank Danamon Indonesia, TBK

Date: 25 April 2017; Court: Supreme Court of Indonesia; Citation: SC No. 356 K/PDT/2017 of 2017; Source: Supreme Court of Indonesia

DPR passes 2017 Revised Budget Bill into Law

Jakarta (ANTARA News) - The House of Representatives (DPR) has passed the 2017 revised budget bill into law in a plenary session here on Thursday.
Date: 28 July 2017; Type: Legal News; Source: Antara

Redenomination Bill not priority: Finance minister

Jakarta (ANTARA News) - Finance Minister Sri Mulyani said that she would not as yet prioritize submitting bill on rupiah redenomination for discussion at the House of Representatives (DPR).
Date: 28 July 2017; Type: Legal News; Source: Antara

INDUSTRY UPDATES

CCCS clears Proposed Merger between Essilor and Luxottica

The Competition and Consumer Commission of Singapore (“CCCS”) has issued a clearance decision on the proposed merger between Essilor International (Compagnie Generale d’Optique) S.A (“Essilor”) and Luxottica Group, S.p.A. (“Luxottica”) (collectively “Parties”). CCCS has concluded that the merger, if carried into effect, will not infringe the section 54 prohibition of the Competition Act (Cap. 50B).

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House and Senate successfully hold “Sports Dual Meet 2018”

The House of Representatives and the Senate on Thursday successfully held their second congressional sports invitational tournament dubbed “Sports Dual Meet 2018” at the House Sports Complex in Batasan Hills, Quezon City.

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INDUSTRY UPDATES

President Joko Widodo to attend ASEAN Summit in Singapore

Jakarta Apr 20 (ANTARA News) - President Joko Widodo will attend the the 32nd Association of Southeast Asian Nations (ASEAN) Summit in Singapore on April 27-28, 2018.

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INDUSTRY UPDATES

Police probes Facebook over Data Privacy Violation

Jakarta, Apr 19 (ANTARA News) - The National Police is currently investigating third-party applications on Facebook that have allegedly violated the data privacy of users, an official stated here on Thursday.

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Lawyer claims Trial to CBT of more than RM100,000

GEORGE TOWN, Apr 20 (Bernama) - A lawyer pleaded not guilty in the Sessions Court here today to criminal breach of trust involving more than RM100,000.

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INDUSTRY UPDATES

IRBM confirms having issued Letters to International Schools

KUALA LUMPUR, Apr 19 (Bernama) - The Inland Revenue Board of Malaysia (IRBM) today confirmed that it had recently issued letters to the management of several international schools, here.

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INDUSTRY UPDATES

Role of In-house Lawyers must evolve, says Judge

In an event that unveiled a study of local general counsel by the Singapore Corporate Counsel Association and global law firm CMS, Judge of Appeal Steven Chong has given in-house counsel several pointers on what they need to do in their evolving role.

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INDUSTRY UPDATES

Passenger-Facing Cameras: encrypt Recordings and restrict Access

The new rule that allows the cab and private-hire car drivers to install infacing cameras should not threaten the passenger privacy according to customer feedback.

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INDUSTRY UPDATES

Cabinet confirms Appointment of New Permanent Secretary of Finance

BANGKOK, Apr 18 (NNT) - The Cabinet has officially confirmed the appointment of the new Permanent Secretary of the Finance Ministry.

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INDUSTRY UPDATES

Thailand preparing to host 12th ASEAN Skills Competition

BANGKOK, Apr 18 (NNT) - Thailand is making preparations to host the 12th ASEAN Skills Competition, the objective of which is to urge adolescents and workers in the region to be enthusiastic about developing their skills in line with new technology.

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Government pardons nearly 8500 Prisoners, including Student Activists’ Killer

The Presidential Office announced on Tuesday that 8541 prisoners, including 51 foreigners, were released from prisons across the country.

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INDUSTRY UPDATES

Tax Exemption on Mega Projects given since 1980s - Customs DG

PUTRAJAYA, Apr 19 (Bernama) - Tax exemptions have been awarded to several large projects owned by the Government since the 1980s, and the issue of waiving the Goods and Services Tax (GST) for procurement of materials and services related to the East Coast Rail Link (ECRL) project should not be played up, said Customs Director-General Datuk Seri Subromaniam Tholasy.

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INDUSTRY UPDATES

GST Compliance good, says Customs Department

KUALA LUMPUR, Apr 18 (Bernama) - The Goods and Services Tax (GST) compliance in Malaysia is good even though there is still a need to continue to promote tax education.

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Illegal OFWs in Kuwait have until Thursday to avail of Amnesty Program

KUWAIT, Apr 18 (PNA) - Philippine Ambassador to Kuwait Renato Villa has announced that the Kuwaiti Department of Immigration under the Ministry of Interior has officially declared Thursday (April 19) as the last day for Filipinos to file their application for the amnesty program set to expire on April 22.

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INDUSTRY UPDATES

Indonesia, Vietnam discuss Cooperation in Fisheries and Maritime Affairs

Jakarta Apr 18 (ANTARA News) - Indonesian Foreign Minister Retno Marsudi discussed cooperation in maritime affairs and fisheries with her Vietnamese counterpart, Pham Bihn Mihn, during the third joint commission meeting between the two countries.

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