Category: Newsflash

  • NewsflashApril 2, 2020

    COVID-19: OJK Relaxes Requirements for Bank’s Asset Quality Assessment

    Amid the Coronavirus Disease 2019 (“COVID-19”) outbreak in Indonesia, the Indonesian Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) issued The OJK Regulation No. 11/POJK.03/2020 of 2020 effective on March 16, 2020, on National Economic Stimulus as A Countercyclical Impact Policy Spread Of Coronavirus Disease 2019 (“OJK Reg. 11/2020”). This OJK Reg. 11/2020 is enacted to Read more…

  • Newsflash

    Temporary Entry Restriction to Foreigners Due to Covid-19 Outbreak

    On March 2, 2020, the Indonesian Government announced the first confirmed cases of coronavirus disease (officially named Covid-19) in Indonesia. Since then, hundreds of patients have been observed and the total number of confirmed positive cases has continued to rise. Due to the continued Covid-19 outbreak, the Government has decided to instill new immigration policies Read more…

  • NewsflashApril 1, 2020

    Employee Protection and Business Sustainability on the Prevention of Covid-19

    On March 17, 2020, the Minister of Manpower (the “MOM”) issued her Circular Letter No. M/3/HK.04/III/2020 on the Employee Protection and Business Sustainability on the Prevention of COVID-19 (the “Circular Letter”). Through this Circular Letter, the MOM requests all the Governors in Indonesia to apply the following measures to protect employees and to sustain businesses. Read more…

  • NewsflashMarch 26, 2020

    OJK Eases Up on Annual Report Obligation and General Meeting of Shareholders

    As the Coronavirus Disease (“COVID-19”) represents an unprecedented challenge to business operations and compliance requirements,  and to minimize the spread requires limitation to public meetings and gatherings, the Indonesian Financial Services Authority (“OJK”) responsively issued 2 (two) letters, namely: OJK Circular Letter No. S-88/D.04/2020 dated March 16, 2020 on the Handling and Controlling of the Read more…

  • NewsflashMarch 24, 2020

    Does Covid-19 Outbreak Excuse Performance of Obligations?

    General With the outbreak of the novel corona virus disease (now known as the “Covid-19”) and the restrictions or limitations imposed by Governments in various countries, it is imperative for Indonesian companies to revisit all of their agreements to ensure if the companies have any valid excuse for non-performance of  their obligations under the relevant Read more…

  • NewsflashMarch 19, 2020

    OJK Takes Action to Stimulate Uncertain Market Conditions

    The Indonesian Financial Services Authority (“OJK”) recently issued two letters, namely: OJK Circular Letter No. 3/SEOJK.04/2020 dated March 9, 2020 on Additional Conditions Constituting Significantly Fluctuating Market On the Implementation of Shares Buyback of Issuers or Publicly Listed Companies (“OJKCL 3/2020”) and OJK letter No. S-89/D.04/2020 dated March 16, 2020 to provide detail and explanation Read more…

  • NewsflashMarch 16, 2020

    Information from AKSET

    Dear All AKSET Clients and Friends, We trust this finds you well. As you may know, the Covid-19 Outbreak reacehd Indonesia a few days ago. Since then, the number of infected persons has exceeded 110. In addition, there is a possiblity of lock down of Jakarta, the Capital of Indonesia. In view of the Outbreak, Read more…

  • NewsflashFebruary 17, 2020

    OJK Re-Introduces Rules to Accommodate Rising M&A Trends in Banking Sector

    On December 26, 2019, the Indonesian Financial Services Authority (“OJK”) issued and enacted OJK Regulation No. 41/POJK.03/2019 of 2019 on Mergers, Consolidations, Acquisitions, Integrations and Conversions of Banks (“OJK Reg. 41/2019”). OJK Reg. 41/2019 combines and revives the rules concerning mergers, consolidations, and acquisitions (“MCAs”) of commercial banks (the “Bank”). With these new rules, OJK Read more…

  • Newsflash

    Updated List of Restricted Positions for Expatriates

    On December 31, 2019, the Minister of Manpower (“MOM”) enacted Decree No. 349 of 2019 on Certain Positions Restricted for Expatriates (“Decree 349”).  Decree 349 revokes and replaces Decree No. 40 of 2012 dated February 29, 2012 concerning the same matter (“Decree 40”). Decree 349 sets out 18 positions restricted for expatriates while Decree 40 Read more…

  • NewsflashFebruary 12, 2020

    OJK Improved Regulation on Quality Assessment of Asset for Commercial Banks

    To maintain the soundness level of banks through the protection of banks’ quality of asset and loan-loss provisions, the Indonesian Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) enacted OJK Regulation No. 40/POJK.03/2019 on Quality Assessment of Asset for Commercial Banks that came into effect on January 1, 2020 (“POJK 40/2019”). This POJK 40/2019 replaces Read more…


News & Events Category


©2020 | AKSET. All rights reserved.