EDITION 08

ISSN 1858-4233

INDONESIA BANKING
Booklet 2021
 Page

INDONESIA BANKING
BOOKLET
2021
Page Indonesia Banking
Booklet 2021
ii

Compilation Team Members

Indonesia Banking
Booklet 2021
Publisher:
Indonesia Financial Services Authority (OJK)
Department of Banking Licensing and Information

Director:
Irnal Fiscallutfi
Feriyanti Nalora
Riza Haryadi

Drafting Team and Contributors:

- Retno Setiasih
- Anggella Aosi Nasution
- Zhafarina Isti Ramadhani
- Fransiskus Henry Cahyadi
- Wahyu Abdi
- Wythesa Ernala K. Sitepu
- Tri Widya Kusumawanti and Surya Prasandi
- Kristy Rosyemary and Rija Fathul Bari
- Fauzi Irawan
- Ayu Yeriesca
- Syefira Hafsari
- Rina Herdiana and Destantri Anggun Rizky
- Aries Jodi S and Dika Pranadhani
- Muslim Tendri Sujatmika and
Aditya Mahendra
- Muhammad Yusran and
T. Fachrozi Fitra Ramadhan
- Chairunnisa and S. Wisantya Prabastara

Cover and Layout Design:

PT Galaksi Lintas Sequentama

Indonesia Financial Services Authority

Department of Banking Licensing and Information
Menara Radius Prawiro
Jl. MH Thamrin No. 2 Jakarta

[email protected]
kontak OJK 157
081-157-157-157
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iii

FOREWORD
The 2021 edition of the Indonesia Banking Booklet (IBB) constitutes
a publication media presenting brief information concerning
Indonesian banking throughout 2020. This booklet is expected to
provide information regarding the 2021 policy direction of the Otoritas
Jasa Keuangan/OJK (Financial Services Authority) as mandated at
the 2021 Financial Services Industry Annual Meeting with the theme
"Momentum for Post-Covid-19 Financial Services Sector Reform in
Accelerating Inclusive National Economic Recovery", the development
of Indonesian banking, as well as regulations and policies in the
banking sector issued by the OJK in the midst of the Covid pandemic.
Since 2020, the Covid-19 pandemic has had a significant impact on
the economies of countries around the world. Currently, all countries
in the world are trying to restore their economies, including Indonesia.
As an institution that has the function to regulate and oversee all
activites in the financial services sector, including the banking sector,
the OJK has a major role in dealing with the economy that is affected
by Covid-19, one of which is through the regulations and policies that
have been issued as stated in this booklet.

The 2021 edition of the IBB is designed in attractive layout and format
to provide convenience and ease for the users. The QR Code technology
is also utilized in some of the contents in this IBB so that the users can
easily obtain additional information about the contents being read.

We realize that there are yet shortcomings in the presentation of the

2021 IBB, both in content and format. However, we still hope that the
information presented can yet provide optimal benefits for the users.
The users’ input and views on this IBB will enable further enhancement
in the next edition of the IBB.

Jakarta, August 2021

Department of Banking Licensing and Information
Otoritas Jasa Keuangan
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Booklet 2021
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TABLE OF CONTENT
ii Compilation Team Members
iii Foreword
iv Table of Content
vi List of Figures
vii List of Tables
vii List of Graphs

CHAPTER 1
1 ABOUT THE FINANCIAL SERVICES AUTHORITY

3 A. Indonesia Financial Services Authority

4 Vision and Mission
5 OJK’s Functions and Tasks
6 OJK’s Strategic Values
7 OJK’s Organization
9 OJK Organizational Structure
10 1. OJK Organizational Structure - Wide - Existing
11 2. Organization Structure for Banking Supervision
12 3. Organization Structure for Regional Office and OJK Office
14 B. Banking
17 Business Activities of the Bank

CHAPTER 2
29 OJK’S AUTHORITY OVER
BANKING INDUSTRY

31 A. OJK’s Authority Over Banking Industry

35 B. Bank Supervision
39 C. Bank Preliminary Investigation
42 D. Bank Investigation
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Page

47 E. Banking Industry Roadmap

67 F. ASEAN Banking Integration Framework
69 G. Basel Frame Work
78 H. Transformation of Regional Development Banks
81 I. Credit Reporting System
83 J. Banking Information System for the Purpose of Supporting Bank Supervision Task
93 K. Consumer Education and Protection

CHAPTER 3
119 DEVELOPMENT AND DIRECTION OF OJK’S BANKING POLICY

121 A. OJK’s 2021 Policy Direction

125 B. Development of OJK Policies in the Banking Sector up to December 2020
131 C. Credit Information Services
133 D. Financial Inclusion and Public Education
137 E. Otoritas Jasa Keuangan Regulation Concerning Alternative Dispute
Resolution Agencies In Financial Services Sector
139 F. Provision of Capacity Building for Registered Public Accountants to Conduct
Audits in the Banking Sector
144 G. Amendment of OJK-LPS Memorandum of Understanding
147 H. OJK Support in NER Program
149 I. International Assessments
150 J. Highlight of the Investment Alert Task Force Performance
151 K. Implementation of Investigation Tasks
154 L. Integrated Supervision

CHAPTER 4
161 OJK’S REGULATIONS IN BANKING FIELD

168 A. Banking Regulations Issued in 2020

170 B. Summary of OJK Regulations in Banking Field Issued from 2019
up to June 2020
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LIST OF FIGURES
8 Figure 1.1. Members of OJK’s Board of Commissioners for 2017-2022
9 Figure 1.2. OJK’s Organization Structure - Wide - Existing
11 Figure 1.3. Organization Structure of Member of Board of Commissioner
Field 3 Executive Head of Banking Supervisors
13 Figure 1.4. Organization Structures of OJK’s Regional Offices and OJK Offices
37 Figure 2.1. Types of Risks Taken Into Account in The Application of Risk
Based Supervision on Banking Sector and Conglomerates
40 Figure 2.2. Steps in Investigation Methodology
41 Figure 2.3. Examples of Types of Deviations from Banking Regulations That
Have Indications of Banking Crimes
43 Figure 2.4. Settlements of Criminal Acts in the FSS.
46 Figure 2.5. Benefits from Establishment of Regional Work Teams of
Investment Alert Task Force
48 Figure 2.6. National Banking Challenge
49 Figure 2.7. Roadmap for Indonesian Banking Development 2020 – 2025 (RP2I)
52 Figure 2.8. Regulatory Triangle
53 Figure 2.9. Construction of the Indonesian Banking Development
Roadmap 2020 – 2025 (RP2I)
56 Figure 2.10. Vision of Roadmap for Indonesian Sharia Banking Development
(RP2SI) 2020 – 2025
66 Figure 2.11. Sustainable Finance Indonesia.
68 Figure 2.12. Illustration of Requirements to Become Qualified ASEAN Banks
70 Figure 2.13. Evolution of Basel Capital Framework in Indonesia
71 Figure 2.14. Implementation of Basel II Framework in Indonesia
73 Figure 2.15. Basel III Capital Framework in Indonesia
75 Figure 2.16. Background of 2007-2009 Global Financial Crisis
78 Figure 2.17. Holistic Framework of Transformation Program
79 Figure 2.18. Illustration of RDB Transformation Implementation’s Stages
81 Figure 2.19. Illustration of Credit Reporting System in Indonesia’s Framework
86 Figure 2.20. Roadmap of SLIK Implementation
88 Figure 2.21. Timeline of SLIK
92 Figure 2.22. Illustration of Coverage of Debtor Information Accessible By The Public
96 Figure 2.23. Pillar of 2013 – 2027 Financial Consumer Protection Strategy
97 Figure 2.24. Illustration of Efforts on Consumer and/or Public Protection
100 Figure 2.25. Illustration of OJK’s Consumer Services
103 Figure 2.26. IDR Standard Infographics
106 Figure 2.27. Consumer Protection Portal Application Infographics
108 Figure 2.28. Integrated Alternative Dispute Resolution Agencies
111 Figure 2.29. Consumer Protection Monitoring and Analysis Method
114 Figure 2.30. Illustration of Cases of Unlicensed Funds Mobilization
115 Figure 2.31. Understand the Regulations in Doing Telemarketing
116 Figure 2.32. Tips for Protecting Personal Data
117 Figure 2.33. Recognizing SIM Card Swap Scam Modes
132 Figure 3.1. Number of Debtor Information for Public Service in 2020
132 Figure 3.2. Number of Debtor Information by SLIK Reporters in 2020
150 Figure 3.3 Highlights of Investment Alert Task Force’s Performance
165 Figure 4.1. Information of SIKePO
167 Figure 4.2. Menu of SIKePO Application
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LIST OF TABLES
38 Table 2.1. Matrix of Types of Risks Taken Into Account in The Application of Risk Based
Supervision on Banking Sector and Conglomerates
125 Table 3.1. General Condition of Commercial Banks
126 Table 3.2. Development of The Performance of Conventional Commercial Banks in 2020
127 Table 3.3. Development of The Performance of Rural Banks in 2020
128 Table 3.4. Development of The Performance of Sharia Commercial Banks in 2020
129 Table 3.5. Development of The Performance of Sharia Business Units in 2020
130 Table 3.6. Development of The Performance of Sharia Rural Banks in 2020
141 Table 3.7. Public Accountants Registered in the OJK Banking Sector
157 Table 3.8. Development of Assets of Financial Conglomerates and Financial Ser-vices Sector
168 Table 4.1. Lists of OJK’s Regulations and Circular Letters issued during 2020

LIST OF GRAPHS
157 Graph 3.1. Development of Assets of Financial Conglomerates and Financial Services Sector

APPENDICES
191 List of Provisions in Banking Field Still in Force Up to December 2020
191 1. Institutional Provisions
198 2. Provisions concerning Bank Business and Supports Activities, and Services
201 3. Provisions related to Prudential Principle
213 4. Regulations concerning Accounting Reports and Standards
215 5. Regulations concerning Bank Supervision
217 6. Regulations Concerning Consumer Education and Protection
217 7. Other Regulations
219 Types of Reporting Already Facilitated by Apolo
227 Glossary of Bank Performance Indicators
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CHAPTER 1

About the
Financial
Services
Authority
About the Financial Services Authority Page

2
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A.
INDONESIA FINANCIAL
SERVICES AUTHORITY
Indonesia Financial Services Authority/Otoritas Jasa Keuangan
(OJK) is an independent institution and free from interferences
by other parties which has functions, tasks, and authorities of
regulation, supervision, on-site supervision, and investigation of
the Financial Services Sector (FSS) as referred to the Law of the
Republic of Indonesia Number 21 of 2011 on Financial Services
Authority.
 About the Financial Services Authority Page

VISION
Vision and To become a supervising agency of the
Mission financial services industry, which is
trustworthy, protects the interests of
consumers and public, and able to develop
the financial services industry into a
national economic pillar that has global
competitive power as well as able to
advance public welfare.

MISSION
1. To realize the establishment of all activities
in the financial services sector in an orderly,
fair, transparent, and accountable manner.
2. To realize a financial system that grows in
a sustainable and stable manner.
3. To protect the interests of consumers and
public.
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OJK’s Functions and Tasks

OJK has the function of establishing an integrated system of the regulation and
supervision of overall activities in the FSS. In addition, OJK performs the task of
regulation and supervision of:
 About the Financial Services Authority Page

OJK’s Strategic Values

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OJK’s Organization

OJK COMMISSIONERS
BOARD
OJK is led by the Board of Commissioners comprising
nine members appointed by a Presidential Decree and
has a collective and collegial nature, with the following
membership arrangement:

Prof. Wimboh Santoso, SE., MSc., Ph.D Ir. Nurhaida, MBA

as Vice Chairman of Board of

as Chairman of Board of Commissioners
Commissioners
 About the Financial Services Authority Page

Heru Kristiyana SH., MM Ir. Hoesen M.M Riswinandi

as Executive Head of Bank as Executive Head of Capital as Executive Head of Non-Bank

Supervisors Market Supervisors Financial Industry Supervisors

Drs. Ahmad Hidayat,

Tirta Segara, SE., MBA
Akt.CA. MBA

as Chairman of as Member in charge of

Audit Board Consumer Education and
Protection

Dody Budi Waluyo, SE., MBA Prof. Suahasil Nazara, SE.,

MSc., Ph.D

as OJK’s Ex-Officio’s Board as OJK’s Ex-Officio’s Board

of Commissioners from of Commissioner from
Bank Indonesia Ministry of Finance

Figure 1.1. Members of OJK’s Board of

Commissioners for 2017-2022.
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OJK ORGANIZATIONAL STRUCTURE

Information
- ADK (Board of Commissioners) and Research)
- SCOM (Strategic Committee) - DINT (International Department)
- DKSK (Deputy Commissioner for Financial - DRJK (Financial Services Sector Research
System Stability) Department)
- DSVL (Surveillance Department) - GPUT (Anti Money Laundering – Combating the
- GKKT (Integrated Financial Services Sector Financing of Terrorism Group)
Policy Group) - DKIK (Deputy Commissioner for Information
- GDST (Integrated Data Management and System and Financial)
Statistics Group) - DKHK (Deputy Commissioner for Legal and
- DKPS (Deputy Commissioner for Investigation, Investigation)
Organization, and Human Resources) - DPSI (Information System Management
- DOSM (Organizational and Human Department)
Resources Department) - DKEU (Finance Department)
- DPJK (Financial Services Sector - DHUK (Legal Department)
Investigation Department) - GPHK (Financial Services Sector Legal Research
- DKMS (Deputy Commissioner for Public and Development Group)
Relations and Logistic) - DKID (Deputy Commissioner for OJK
- DSHM (Board of Commissioners Secretariat Instituteand Digital Financial)
and Public Relations Department) - OJKI (OJK Institute)
- DMSP (Strategic and Change Management - GIKD (Digital Financial Innovation Group)
Department) - DKAI (Deputy Commissioner for Internal Audit,
- DLOG (Logistics Department) Risk Management, and Quality Assurance)
- DKIR (Deputy Commissioner for International - DPAI (Internal Audit Department)
 About the Financial Services Authority Page

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1. OJK Organizational Structure - Wide - Existing

Firgure 1.2. OJK’s Organization Structure - Wide - Existing.

- DRPK (Risk Management and Quality - DKMI (Deputy Commissioner for Capital Market
Assurance Department) Supervision I)
- GPAF (Anti Fraud Handling Group) - DKM2 (Deputy Commissioner for Capital
- DKEP (Deputy Commissioner for Education and Market Supervision II)
Consumer Protection) - DPM1 (Capital Market Supervision Department 1A)
- DPLK (Consumer Protection Department) - DPM2 (Capital Market Supervision Department 1B)
- DLIK (Financial Literacy and Inclusion Department) - DPM3 (Capital Market Supervision Department 2A)
- DKBI (Deputy Commissioner for Banking Supervision I) - DPM4 (Capital Market Supervision Department 2B)
- DKB2 (Deputy Commissioner for Banking Supervision II) - DKII (Deputy Commissioner for Non-Bank Financial
- DKB3 (Deputy Commissioner for Banking Supervision III) Industry Supervision I)
- DKB4 (Deputy Commissioner for Banking Supervision IV) - DKI2 (Deputy Commissioner for Non-Bank
- DPNP (Banking Research and Regulation Department) Financial Industry Supervision II)
- DPIP (Banking Licensing and Information Department) - DPI1 (Non-Bank Financial Industry Supervision
- DPPS (Sharia Banking Regulation and Licensing Directorate) Department 1A)
- DPKP(Banking Supervision Quality Control Department) - DPI2 (Non-Bank Financial Industry Supervision
- DPMK (Supervision and Crisis Management Department 1B)
Development Department) - DPI3 (Non-BankFinancial Industry Supervision
- DKIP (Banking Special Inspection Department) Department 2A)
- DPB1 (Bank Supervision Department 1) - DPI4 (Non-Bank Financial Industry Supervision
- DPB2 (Bank Supervision Department 2) Department 2B)
- DPB3 (Bank Supervision Department 3)
- DPBS(Sharia Bank Supervision Department)
- KOJK (OJK Office)
- KR (OJK Regional Office)
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2. Organization Structure for Banking Supervision

Figure 1.3. Organization Structure of Member of Board of Commissioner Field

3 Executive Head of Banking Supervisors.
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3. Organization Structure for Regional Office

and OJK Office
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*OJK office is not operational yet

Figure 1.4. Organization Structures of

OJK’s Regional Offices and OJK Offices.
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B.
BANKING

- Based on Act of The Republic Indonesia number 10 of 1998 concerning

Amendments to Act number 7 of 1992 concerning Banking, banking is
everything related to banks, including institutions, business activities, as
well as ways and processes in carrying out their business activites

- Based on Act Number 21 of 2008 concerning Sharia Banking, Sharia Banking

is everything related to Sharia Banks and Sharia Business Units, including
institutional matters, business activities, as well as methods and processes
in carrying out their business activities.

Definition

1. Bank are business entities that collect funds from the

public in the form of deposits and channels the funds
to the public in the form of credits and/or other forms
for the purpose of enhancing the living standard of the
community.

2. Conventional Bank (CB) are banks that conducts

business activites based on conventional principles and
based on the type, there are Conventional Commercial
Banks and Conventional Rural Banks.

3. Conventional Commercial Banks (CCB) are Conventional

Banks that provide services related to payments flows.
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4. Rural Banks (RB) are banks that not provide services

related to payment flows.

5. Islamic Bank (IB) are banks that conduct business

activities based on Sharia Principles. Based on the
types, there are Islamic Commercial Banks and Islamic
Rural Banks.

6. Islamic Commercial Banks (ICB) is Islamic Banks that

provides services related to payment flows.

7. Islamic Rural Banks (IRB) is Islamic Banks that not

provides services related to payment flows.

8. Islamic Business Unit (IBU) is a working unit from head

office of Conventional Commercial Banks that operates
as a parent office from units that conducts business
activities based on Shari Principles, or working unit
in branch offices from a overseas bank that conducts
conventionally business activites that operates as a
parent office from sub-branch office and/or islamic
business unit.

9. Sharia Principles are Islamic law principles in banking

activities based on fatwa (legal decisions) issued by an
institution that has the authority to determine fatwa in
the field of sharia.
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BUSINESS ACTIVITIES OF THE BANK

1.
BUSINESS ACTIVITIES THAT CAN
BE UNDERTAKEN BY ANY CB ARE:

a. Collect funds from public in the form of deposits, comprising

demand deposits (giro), term deposits, certificates of
deposit, savings deposits, and/or other equivalent forms;

b. Extending credits;

c. Issuing promissory notes;

d. Buying, selling, or guaranteeing at own risks as well as for

the interests and at the instructions of its customers, in
the forms of :
1) Drafts/bills of exchange, including drafts accepted by
banks, which validity periods are no longer than the
norm in the trading of referred drafts;
2) Promissory notes and other commercial papers which
validity periods are no longer than the norm in the
trading of referred notes;
3) State treasury bills and government securities;
4) Certificates of Bank Indonesia (SBI)
5) Bonds;
6) Commercial papers with maturity periods of up to one
year; and
7) Other commercial paper instruments with maturity
periods of up to one year.
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e. Transferring money both for own interest as well as for the

interests of customers;

f. Placing funds at, borrowing funds from, or lending funds to

other banks, using notes, telecommunication facilities, as
well as sight drafts, checks, or other facilities;

g. Receiving payments from claims on securities and making

settlements with or between third parties;

h. Providing deposit boxes for safe keeping of goods and

securities;

i. Undertaking custodial activities for the interests of other

parties based on contracts;

j. Undertaking fund placements from customers to other

customers in the form of securities not listed at the stock
exchanges;

k. Undertaking factoring activities, credit card business, and

trust activities;

l. Providing financing and/or undertaking other activities

based on Sharia Principles, in accordance with prevailing
regulations;

m. Conducting other activities commonly undertaken by

banks as long as they are not in conflict with the Act
concerning Banking and other prevailing legislations;

n. Conducting activities in foreign currencies by complying

with prevailing regulations;

o. Undertaking capital participation activities at other banks

or companies in the financial field, such as leasing
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business, venture capital, security company, insurance, as

well as settlement and custodial clearing institution, by
complying with prevailing regulations;

p. Conducting temporary capital participation activities to

resolve the impact of credit failure or financing failure based
on Sharia Principles, with the requirement to withdraw its
participation, by complying with prevaling regulations;

q. Conducting bank business activities in the form of

custodianship with management/trust.

2.
BUSINESS ACTIVITIES THAT CAN BE
UNDERTAKEN BY ANY SCB AND ANY
SHARIA BUSINESS UNIT (SBU) ARE:

a. Collecting funds in the form of Deposits, comprising Demand

Deposits (Giro), Savings Deposits, or other equivalent forms
based on wadi’ah agreement or other agreement that are not
in conflict with Sharia Principles;

b. Collecting funds in the form of investments, comprising

Deposits, Savings Deposits or other equivalent forms based
on mudharabah agreement or other equivalent agreement
that are not in conflict with Sharia Principles;

c. Channeling yield-sharing financing based on mudharabah

agreement, musyarakah agreement, or other agreement that
are not in conflict with Sharia Principles;

d. Channeling financing based on murabahah agreement,

salam agreement, istishna agreement, or other agreement
that are not in conflict with Sharia Principles;
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e. Channeling financing based on qardh agreement or other

agreement that are not in conflict with Sharia Principles;

f. Channeling financing for leases of movable or immovable

properties to customers based on ijarah agreement and/or
lease purchase in the form of Ijarah Muntahiya Bittamlik
(IMBT) or other agreement that are not in conflict with Sharia
Principles;

g. Undertaking debt taken-overs based on hawalah agreement

or other agreement that are not in conflict with Sharia
Principles;

h. Undertaking debit card and/or financing card businesses

based on Sharia Principles;

i. Buying, selling or guaranteeing at own risks third-party

securities issued based on real transactions and Sharia
Principles, such as among others ijarah, musyarakah,
mudharabah, murabahah, kafalah, or hawalah agreement;

j. Buying securities based on Sharia Principles issued by the

government and/or BI;

k. Receiving payments from claims on securities and making

settlements with or between third parties based on Sharia
Principles;

l. Conducting deposit for

other parties based on
agreement in Sharia
Principles (especially
for Islamic Commercial
Banks);
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m. Providing deposit boxes for safe keeping of goods and

securities based on Sharia Principles;

n. Transferring money, both for own interest as well as for the

interests of customers based on Sharia Principles;

o. Undertaking the function of trustee based on wakalah

agreement;

p. Providing letter of credit or bank guarantee facilities based

on Sharia Principles;

q. Providing ICB other products or undertaking other activities

that are based on Sharia Principles.
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3. IN ADDITION TO ACTIVITIES REFERRED TO IN NUMBER TWO ABOVE,

BUSINESS ACTIVITIES LISTED BELOW CAN ONLY BE CONDUCTED
BY ICB AND SHARIA BUSINESS UNIT (IBU), NAMELY:

a. conducting foreign exchange activites based on Sharia

Principles;

b. conducting capital participation activities at other ICB or

financial institutions that conduct business activities based
on Sharia Principles;

c. conducting temporary equity participation to overcome due

to the failure of financing based on Sharia Principles, by term
of withdrawing the participation;

d. acting as the founder and management of pension funds

based on Sharia Principles; and

e. do activities in the market capital as long as it’s not contrary

to the Sharia Principle and regulatory provisions legislation
in the field capital market;

f. organizing activities or bank products based on Sharia

Principles using electronic facilities;

g. issuing, offering, and trading in long-term securities based

on Sharia Principles through the capital market, both directly
as well as indirectly;

h. issuing, offering, and trading in long-term securities based

on Sharia Principles through the capital market, both
directly as well as indirectly (ICB only); and

i. provide products or conduct other ICB business activities

based on Sharia principles;
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4.
BUSINESS ACTIVITIES THAT CAN
BE UNDERTAKEN BY A RB ARE:

a. Accumulation of funds from the public in the form of

deposits, comprising term deposits, savings deposits, and/
or other equivalent forms;

b. Extending credits;

c. Providing financing and/or fund placements based on

Sharia Principles, in accordance with regulations set by Bank
Indonesia; and

d. Undertaking fund placements in the forms of Certificates

of BI, term deposits, certificates of deposits and/or savings
deposits at other banks.

5.
BUSINESS ACTIVITIES THAT CAN
BE UNDERTAKEN BY A SRB ARE:

a. Collecting funds from the public in the form of :

1) Deposit in the form of savings deposit or equivalent
forms based on wadi’ah agreement or other agreement
that are not in conflict with Sharia Principles; and
2) Investment in the form of a term deposit or savings
deposit or other equivalent forms based on mudharabah
agreement or other agreement that are not in conflict
with Sharia Principles.
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b. Channeling funds to the public in the forms of:

1) Yield-sharing financing based on mudharabah or
musyarakah agreement;
2) Financing based on murabahah, salam, or istishna
agreement;
3) Financing based on qardh agreement;
4) Financing for leases of movable or immovable properties
to customers based on ijarah agreement or lease purchase
in the form of IMBT; and
5) Debt taken-over based on hawalah agreement.

c. Fund placements at other sharia banks in the form of trusts

based on wadi’ah agreement or investments based on
mudharabah agreement and/or other agreement that are
not in conflict with Sharia Principles;

d. Transferring money, both for own interest as well as for the

interests of customers, through the accounts of the IRB
existing at ICB, CCB, and SBU; and

e. Providing other products or undertaking other activities of

sharia banking in accordance with Sharia Principles based
on OJK’s approvals

6.
BUSINESS SUPPORT ACTIVITIES

Business support activities are other activities conducted

by banks outside bank business activities. These business
support activities are related to human resources, risk
management, compliance, internal audit, accounting and
finance, Information Technology (IT), logistics and security.
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BUSINESS ACTIVITIES PROHIBITED FOR BANKS

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About the Financial Services Authority Page

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CHAPTER 2

OJK’s Authority
Over Banking
Industry
OJK’s Authority Over Page
Banking Industry
30
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A.
OJK’S AUTHORITY
OVER BANKING
INDUSTRY

Based on Law of The Republic of Indonesia number 21 of 2011

concerning OJK, in relation to the implementation of the tasks
concerning regulating and supervising of the banking sector, OJK
has the following authorities:

1.

RIGHT TO LICENSE

The right to license is an authority to set the procedures for

bank licensing and establishment, which covers the granting
and revocation of bank business licenses, granting of permits
for opening, closing, and transferring bank offices, granting of
approvals on bank ownership and management, granting of
licenses to banks for conducting certain business activities.
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32

2.

RIGHT TO REGULATE

The right to regulate is an authority to set regulations

concerning banking business aspect and activities for the
purpose creating a sound banking industry that is able to
provide banking services desired by the public.

3.

RIGHT TO CONTROL

The right to control involves:

a. On-site supervision, which comprises general examination
and specific examination, with the objective of obtaining
a picture of bank financial situation and monitoring
bank compliance level to prevailing regulations, as well
as finding out whether there are unsound practices that
endanger bank business sustainability; and

b. Off-site supervision, which is supervision using monitoring

tools such as periodic reports submitted by banks, reports
of examination results, and other information.
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4.

RIGHT TO IMPOSE SANCTION

The right to impose sanction is the authority to impose

sanctions in accordance with the provisions of legislations
on a bank when the bank does not fully comply or does not
comply with regulations. This action contains an element of
nurturing so that banks operate in accordance with sound
banking principles.

5.

RIGHT TO INVESTIGATE

The right to investigate in accordance with the law gives

OJK the authority to perform investigations within the FSS,
including in the banking sector. Investigations shall be
conducted by investigators in Republic of Indonesia’s Police
and Civil Servant officers in OJK. Results of investigations
shall be submitted to public prosecutors for prosecutions.
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6.
RIGHT TO CONDUCT
CONSUMER PROTECTION

Authority to conduct consumer protection, which is the

authority to conduct consumer protection in the form of
prevention of consumer and society losses, consumer
complaint services, and legal defense.
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B.
BANK SUPERVISION

In carrying out bank supervision task, at present

OJK runs its supervision system by using two
approaches, namely:

1. Compliance Based Supervision (CBS),

which is based on the monitoring of bank compliance
to regulations that are related to bank operation and
management in the past with the objective of ensuring
that properly and correctly in accordance with prudential
principle. Supervision on the fulfilment of the compliance
aspect is an integral part of the implementation of risk
based bank supervision; and

2. Risk Based Supervision (RBS)

is bank supervision that uses risk-based strategies and
methodologies that enable bank supervisors to detect
significant risks at early stage and take approapriate
and timely supervisory measures.
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Bank risk-based supervision/examination is performed

on the following types of risks:
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Figure 2.1. Types of Risks Taken Into Account in The Application of Risk Based
Supervision on Banking Sector and Conglomerates.
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Table 2.1. Matrix of Types of Risks Taken Into Account in The Application of Risk Based
Supervision on Banking Sector and Conglomerates.

Information:
CCB: Conventional Commercial Banks ; SCB : Sharia Commercial Banks ; SBU : Sharia Business Unit.
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C.
BANK PRELIMINARY
INVESTIGATION

Banks, as an intermediary institutions, are often used as the

vehicles and/or targets for the unlawful enrichment of selves,
family members, or certain groups which can ultimately lead
to the banks experiencing structural problems.

Such actions can be done either by deviations from banking regulations

Members of the Board of Commissioners that have indications of banking
and Board of Directors, employees, criminal offenses need to be made
affiliated parties, owners / shareholders cautiously in order to avoid impacts that
of the bank, or other parties, in which, might influence bank reputation and
if no preventive measures (to prevent for the purpose of creating a banking
the recurrence of such actions) and system that is sound, which in turn
repressive measures (on parties proven supports financial system stability.
to have committed such actions) are Information on deviations from banking
taken, may cause a decline in the level regulations that have indications of
of public confidence in the banking banking criminal offenses may come
system. from results of bank supervision
and/or other parties. In the event the
Act No. 21 of 2011 concerning Otoritas handling of these deviations needs to
Jasa Keuangan has given a mandate to be followed up with investigations, the
OJK on the regulation and supervision of investigations will be conducted on the
banks. In performing bank supervision bank’s affiliated parties and / or other
task, OJK may find deviations from parties that use the bank as a vehicle
banking regulations, both those of and/or target. In addition, OJK has the
administrative nature as well as those authority to impose administrative
that have indications of banking sanctions on banks in accordance with
criminal offenses. The handling of prevailing legislations.
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The investigation methodology used for finding out deviations

that have occurred and the related parties as well regulations that
have been violated involves among others:

Figure 2.2. Steps in Investigation Methodology.

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In accordance with the formulation of banking criminal offences stipulated in

Articles 46 up to 50A of Act No. 7 of 1992 concerning Banking as amended by
Act No. 10 of 1998 or Article 59 up to 66 of Act No. 21 of 2008 concerning Sharia
Banking, deviations from banking regulations that have indications of banking
criminal offenses are differentiated in their relation to:

Figure 2.3. Examples of Types of Deviations from Banking

Regulations That Have Indications of Banking Crimes.

When the investigation results find the existence of suspected banking criminal
offences that have been made by affiliated parties and/or other parties, the cases
are further handed over to OJK’s work unit that performs the investigation task.
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D.
BANK INVESTIGATION

As mandated in Article 9 of Act No. 21 of 2011

concerning Otoritas Jasa Keuangan, in order
to perform the supervision task, OJK has the
authority to undertake investigations on FSIs,
actors, and/or financial service support activities
as referred to in legislations prevailing in the FSS.

OJK’s Investigators are Investigation Officers of the Republic of

Indonesia’s Police and/or Civil Servant Officers who are given
special authority as Investigators, who are employed at OJK in
order to perform investigations of criminal offences within the
FSS in accordance with Act No. 21 of 2011 concerning OJK.

The handling of criminal acts in the Financial Services Sector

(FSS) is carried out by the OJK’s investigators based on
applicable laws and MoUs with other law enforcement agencies,
namely the Police and the Prosecutor’s Office. The assignment
of the National Police’s Investigators to carry out investigative
activities is a step to accelerate the investigation process,
and the assignment of investigators from the Public
Prosecutor’s Office as members of a case
analyst team is a strategic step to
speed up the investigation process
until it is declared completed/P-21.
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The OJK’s investigation activities with its acceleration efforts is

considered very effective, resulting in more effective settlements
of criminal acts in the FSS with the following highlights:

Figure 2.4. Settlements of Criminal Acts in the FSS.

1. Investigation Strategy during the Pandemic

The Covid-19 pandemic condition has affected acceleration of the

handling of criminal cases in the financial services sector during
2020. Legal breakthroughs in the conduct of investigations have
always been carried out by observing the prudential principles
and carefully adhering to the Criminal Procedure Code. FGDs
with Law Enforcement Agencies such as the Supreme Court,
Police, Public Prosecutor’s Office and criminal expert academics
have been conducted to formulate rules for the conduct of
investigation activities both in examination of witnesses,
uses of experts, as well as coordination with the Examining
Prosecutors.
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Results of the FGDs are incorporated in dia and constantly observes the health
the Decree of the Head of the Financial protocols. Every examination, which
Services Sector Investigation Depart- requires to be conducted in the face-
ment related to the online examination to-face manner, is carried out following
rules during the Corona Virus Disease the health protocol, namely by the ap-
2019 pandemic, which regulates im- plication of a Swab Test on each wit-
plementation of the investigation ness, wearing of masks, using a barrier
process using Video Conference me- glass on the examiners’ tables.

2. Implementation of Investigation Tasks

Task Force for Investment

a. Task Force for Investment Alert
Alert in 2018 In order to create effective coordination
between supervisory institutions in the
- Indonesia Financial Services
Authority field of public fund accumulation and
- Ministry of Trade investment management as well as with
- Ministry of Communication
and Informatics other law enforcement officers, regulators,
- Ministry of Cooperatives supervisory institutions, and law enforcers
Small and Medium
Enterprises have established Task Force for Investment
- Indonesian Investment Alert/Satgas Waspada Investasi (SWI)
Coordinating Board
- Ministry of Religious Affairs
through Chairman of Capital Market and
- Ministry of Education Financial Institution Supervisory Agency
and Culture
- Ministry of Home Affairs
Decree Number Kep-208/BL/2007 dated
- Ministry of Research, 20 June 2007 for 2007 work period that is
Technology, and Higher
Education renewed annually.
- Indonesian Financial
Transaction Reports and
Analysis Centre After the handover of the tasks and
- Attorney General of Indonesia functions of the Capital Market and
- Bank Indonesia
Financial Institution Supervisory Agency
- Indonesian National Police
to OJK, Chairman of Capital Market and
Financial Institution Supervisory Agency
Decree Number Kep-208/BL/2007 dated 20 June 2007 was superseded by OJK’s
Board of Commissioners Decree Number 01/KDK.04/2013 dated 26 June 2013.
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In 2020, the SWI membership was re-established

through the Decree of the OJK Board of
Commissioners Number 2 / KDK.02 / 2020 dated
March 3, 2020 concerning the Task Force for
Handling of Suspected Unlawful Actions in the
Field of Public Fund Accumulation and Investment
Management. Based on the Decree of the Chairman
of the Board of Commissioners, OJK is mandated to
carry out the task as Chairman of SWI.

b. Establishment of SWI Regional Work Teams

The rise of activities in public fund accumulation and

investment management without permits or misuses of
licenses that have occurred in different regions in Indonesia
necessitates the establishment of SWI Regional Work
Teams in order to ensure optimum, efficient, and quick
responses by SWI Regional Work Teams on complaints
and/or reporting from the public.

SWI Regional Work Teams are tasked to inventorize

and analyze cases of suspected illegal investments as
well as undertake coordination with related agencies in
accordance with the fields, including the possibility of joint
investigations and reporting to local police offices.

The establishment of SWI Regional Work Teams is expected

to give benefits not only to certain groups but also to FSI
and the Public.
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Figure 2.5. Benefits from Establishment of Regional Work Teams

of Investment Alert Task Force.
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E.
BANKING INDUSTRY
ROADMAP

1. Roadmap for Indonesian Banking

Development (RP2I)

The national banking industry has continued to experience

growth over the last few years. However, in the future,
the national banking industry will still face a number of
short-term as well as structural challenges that need to be
addressed.

In the short term, uncertainty over term national development that

the end of the Covid-19 pandemic still is quite substantial, the financial
overshadows the process of economic market that is relatively shallow,
recovery which could affect banking the yet inadequate financing for
performance. In addition, there are sustainable development, sharia
a number of structural banking banking that is yet not optimal
challenges that still have to be faced in supporting sharia economic
related to yet small business scales growth, as well as financial access
and low competitiveness, the rapid and education that still need to be
development of the digital economy improved. These various challenges
and finance accompanied by changes need to be responded carefully
in people’s economic behavior, the and appropriately through close
need for funding for the medium- collaboration by all stakeholders.
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1) Challenges for Indonesian Banking Industry

These challenges can be summarized into four points, namely:

a. The national banking

Uncertainties
structure is yet dominated regarding th end of
Covid-19 pandemic

by a population of banks
with small business scales
and low competitiveness.

b. Changes in the ecosystem

and stakeholder
expectations for digital
services are increasingly
massive, especially during
the Covid-19 pandemic
period.

c. Government’s and public’s

expectations of the financial
services sector, especially
the banking sector, in the
national economic recovery.

d. Demands to regulators
related to internal
improvements, in terms of
regulations, supervision, as
well as licensing, so that they
can be more agile, adaptive
and able to support the new
ecosystem of the banking
industry.

Figure 2.6. National Banking Challenge.

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2) Banking Development Policy Direction 2020-2025

To face various challenges, both short-term and structural

challenges, the OJK has prepared a Roadmap for
Indonesian Banking Development 2020 – 2025 (RP2I).

Figure 2.7. Roadmap Scan the QR Code on the

for Indonesian Banking side for read completely
Development 2020 – 2025 information
(RP2I).

The RP2I is prepared as references for short-term

an effort to respond to the development as well as
various dynamics that occur structural development
in the national banking in stages over a period of
sector after the pandemic six years. The direction of
and the accompanying short-term development is
landscape changes. RP2I aimed at optimizing the role
contains directions and of banks in accelerating the
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national economic recovery due to the impact of the Covid-19

pandemic. The direction of structural development is aimed
at strengthening the national banking industry so that it has
better resilience, higher competitiveness, and a more optimal
contribution to the national economy.

The RP2I contains 4 main pillars, namely:

1) Strengthening the structure and competitive advantage

of the national banking industry.

The banking industry with a sound structure and adequate

competitive advantage is the main requirement in fostering
optimal economic growth and improving people’s welfare.

A sound structure in the future will focus on efforts in

banking industry is needed strengthening the structure and
so that banks are able to competitive advantage of banks
face various pressures through several main actions,
(shocks) that may arise namely capital expansion,
from economic turmoils. acceleration of consolidation
High competitiveness is and development of bank
also needed to overcome business groups, strengthening
the increasingly tight of competitiveness through
competition at the global, the implementation of
regional and domestic governance and efficiency, as
levels. To that end, well as boosting of product &
development of the national service innovations through
banking industry in the acceleration of licensing.
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2) Acceleration of digital transformation.

Along with the rapid development of the digital economy,

the rapid development of technology has disrupted various
sectors including the banking sector.

Development of information technology game

technology has changed changers (i.a. Application
consumer behavior and Programming Interface
created new competitors (API), Cloud, Blockchain,
from outside the and Artificial Intelligence
banking sector, including (AI)); and the undertaking
fintech. Along with rapid of collaborations related
changes in technology to information technology,
and increasingly fierce both between banks and
competition, the banking other banks, banks and other
industry must be ready to financial service institutions
anticipate changes that including digital financial
occur through accelerated innovation providers, as well
digital transformation. as banks with various related
digital companies.
The RP2I provides a
direction to the banking In addition, the digital
industry to accelerate the transformation of the banking
digital transformation. industry also needs to be
In general, the strategy pushed towards the direction
adopted to support this of advanced digital banking.
direction is through With the acceleration of digital
the strengthening of transformation, banks are
the governance and expected to be more efficient
risk management of and able to maximize their
information technology; services to all levels of society
the adoption of in Indonesia.
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3) Strengthening the role of banking industry in the

national economy.

The national banking industry has an important role in the

economy, starting from maintaining the financial system
stability to fostering high economic growth and equitable
welfare.

Banks are required to take an active role in achieving

high economic growth and improving people’s welfare.
In line with this, the RP2I directs banks to various
efforts to optimize the role of banks in financing the
economy; financial market deepening; Sharia economic
development; increased financial access and education;
and sustainable financing.

4) Strengthening of Regulations, Supervision and Licensing.

The various efforts towards banking industry development
will not be optimal in achieving the goals if they are only
carried out by banks. On the other hand, the massive
impacts of the pandemy and changes in the external
ecosystem demand internal reforms, in terms of
regulations, supervision and licensing.

Figure 2.8. Regulatory Triangle.

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For this reason, the OJK aspects. The concept of

needs to counterbalance regulations that refers to
development of the banking the rule-based principle will
industry by carrying out various quickly become obsolete
necessary transformations. and tends to limit the space
Regulations need to be directed for the industry and for the
at a principle-based pattern, supervisors in applying
be adaptive to changes in professional judgment and
the banking landscape and flexibility in supervisory
ecosystem, as well as be actions. In addition, changes
forward-looking oriented are needed to the licensing
in order to be more agile. process in order to be faster and
This principle is intended to more transparent as well as to
provide space for innovations the pattern of supervision in
in the industry in order to order to be more effective and
be more developed without efficient through the utilization
compromising prudential of information technology.

Figure 2.9. Construction of the Indonesian Banking Development Roadmap 2020 – 2025 (RP2I).
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The key to success in implementing these pillars is the availability

of supporting devices or enablers. These enablers comprise
leadership and change management at the OJK-wide level who
are capable, dedicated and persistent; adequate quantity and
quality of human resources, especially in the field of information
technology; good and equitable information technology and
internet service capabilities throughout Indonesia; as well as
close collaboration and cooperation among all stakeholders.

Along with the preparation of RB regulations and supervision

the 2020-2025 RP2I, in regards are directed to be in alignment
banks that have special with commercial banks that
characteristics such as Rural prioritize a principle-based
Banks (RBs) and Sharia Banks, approach and suptech-based
the OJK will prepare separate supervision. The role of RBs
Roadmaps for these types of in the economy is directed at
banks. financing the priority economic
sectors, MSMEs, and regional
The RB roadmap is prepared development, as well as
to strengthen the RB industry increasing the efficiency of RBs.
that is competitive, strong, and
has contributions, especially Meanwhile, the Roadmap
to the local communities. for Indonesian Sharia
Strengthening the capital, risk Banking Development
management, and governance will be prepared with the
as well as preparation of the ultimate goal of realizing a
best-fit stipulations create sharia banking industry that
an important foundation for is highly competitive and
the future development of contributes significantly to
RBs. The RB industry is also the national economy and
prompted to implement the social development. The sharia
latest technology in order to banking industry is prompted
be competitive as well as to be to strengthen the identity of
able to participate in the digital sharia banking in several ways,
finance ecosystem. Aspects of namely strengthening
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of the capital, digitalization, institutions, as well as related

development of sharia products Ministries and Agencies. This is
that are able to meet customer supported by several enablers
needs, and strengthening of such as quality human
the sharia values. Furthermore, resources, infrastructure
the sharia banks are also that supports sharia banking
urged to synergize with the operations, and increased
halal industry, sharia financial public awareness.
institutions, Islamic financial

2. Indonesia Islamic Banking Roadmap

Until currently, Indonesian sharia banking continues to show

positive growth, although there are yet several strategic issues
and challenges that still need to be resolved. Based on the Sharia
Banking Transformation Study compiled by the Otoritas Jasa
Keuangan (OJK) in 2018, there are several strategic issues that

Indonesia Islamic Banking

Roadmap 2015-2019:
Milestones and
Achievements
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still hinder the acceleration community and economic lives

of sharia banking business with increasing vigilance that
growth, including the absence requires maintaining physical
of significant business model distance in interacting. But
differentiation, suboptimal on the other hand, concern in
quality and quantity of human helping others is increasing,
resources, as well as low especially in regards economic
literacy and inclusion levels. problems. This is a challenge
as well as an opportunity for
In addition, we are currently sharia banking industry to be
faced with global conditions able to provide digital-based
that have forced us to enter the services and meet the social
New Normal era as a result of needs of the community so that
the global Covid-19 pandemic. it can play a role in building the
Scan the QR Code on This new normal era has economy of the people after the
the top for read RPSI
completely changed the patterns of social, pandemic.

Figure 2.10. Vision of Roadmap

for Indonesian Sharia Banking
Development (RP2SI) 2020 – 2025.
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The Roadmap for Indonesian Sharia Banking

Development for the period 2020 – 2025 is compiled
with the vision of realizing sharia banking industry
that is resilient, highly competitive, as well as
contributes significantly to the national economy and
social development. The direction of sharia banking
development has been prepared in line with several
policy directions, both external policies at national
level such as the 2020-2024 National Medium-Term
Development Plan (RPJMN) and the 2019-2024 Master
Plan of Indonesian Islamic Economy and Finance as
well as the OJK’s internal policies, namely Masterplan of
Indonesian Financial Services Sector and the Roadmap
for Indonesian Banking Development (RP2I). As part of
the RP2I, the Roadmap for Indonesian Sharia Banking
Development is a strategic step for the OJK in aligning
the direction of sharia economic development in
Indonesia, particularly in the sharia financial services
industry sector within the sharia banking sector.

The Roadmap for Indonesian Sharia Banking Development is

compiled as a catalyst for the acceleration of the development
of sharia banking in Indonesia by carrying 3 (three)
development directions as follows:

1. Strengthening the identity of sharia banking;

2. Synergy in the sharia economic ecosystem; as well as
3. Strengthening of licensing, regulations, and
supervision.

As part of the Roadmap for Indonesian Banking Development,

this roadmap is a strategic step for the OJK in aligning the
direction of sharia economic development in Indonesia,
particularly in the sharia financial services industry sector
within the sharia banking sector.
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1.

2.

3.
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3. Roadmap for Sustainable Finance

The climate crisis is the greatest challenge of

this century. There has never been any effect of
climate change that sharply affects the increase
in temperature, extreme weather changes, and
rising sea levels.

The handling of climate in the financial services

change will determine the sector are needed. The
future of human civilization. financial sector is seen as the
The Paris Agreement (2016) main driver of the economy,
calls for concerted efforts a determining factor in
to limit global temperature investment decisions, and a
rise by reducing greenhouse source of financing towards
gas emissions. This call for a sustainable development
sustainable future is further that harmonizes with
strengthened by the COVID-19 environmental, social and
pandemic which forces the governance aspects.
world to be heedful to the
vulnerability of all aspects of The OJK has prepared a
life to the forces of nature. Roadmap for Sustainable
Finance Phase I (2015 – 2019)
To realize better conditions which aims to step up the
in the face of climate change understanding and capacity
and the COVID-19 pandemic, of financial services sector’s
resilience and sustainability players to convert towards
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a low-carbon economy. The developing green category

evaluation results of Phase I of standardization, utilizing
the roadmap show that there business opportunities in the
are several opportunities for sustainable sectors, as well
improvements which include as integrating environmental,
increasing the industry’s social, and governance (ESG)
understanding to move aspects in every business
towards sustainable finance, decision making.

The Phase II Sustainable Finance Roadmap

(2021 - 2025) focuses on the realization of a
comprehensive sustainable fi-nance ecosystem,
involving all relevant parties and boosting the
development of cooperation with other parties. The
Phase II Sustainable Finance Roadmap is expected to
be the basis for the Financial Services Sector and a
reference for relevant Ministries/Agencies in developing
innovative financing initiatives.
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Building a Sustainable
Finance Ecosystem

To accelerate the transition of the financial sector in the

direction of sustainable finance, in the Phase II of the Roadmap
(2021 – 2025), the OJK develops a sustainable finance ecosystem
approach, which constitutes the OJK’s continued commitment
to creating transparent regulations, fostering synergies with
ministries/agencies, as well as enhancing the capability of the
financial industry in a single ecosystem, as follows:

1) Policy; provide the development of various policies to

support sustainable finance.

2) Products; develop various types of sustainable financial

products and services.

3) Market Infrastructure; develop technology and information

infrastructure that support sustainable finance.

4) Coordination with related Ministries/Agencies; step up

coordination and exchanges of information with other
ministries/agencies and stakeholders.

5) Non-government support; support from the supply

and demand sides, research support (experts, research
institutions, and universities), as well as international
institutions and membership in international fora for the
development of sustainable finance initiatives.

6) Human Resources; develop internal and external capacities

through a massive and structured capacity building
program.

7) Awareness; through the development of a communication

Scan the QR Code strategy for sustainable finance initiatives to be applied to
on the top for read
RPSI completely
the financial industry, relevant stakeholders, and the public.
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Figure 2.11. Sustainable Finance Indonesia.

Priorities in the Development of the Roadmap

for Sustainable Finance Phase II

There are several priorities in supporting the implementation of

the phase II of sustainable finance ecosystem, including:

1) Development of a green taxonomy aimed at classifying

sustainable financing and investment activities in Indonesia.
This classification becomes the basis for all stakeholders in
Indonesia in sustainable economic activities.

2) Implementation of environmental, social and

governance aspects into risk management with the aim
of increasing resilience and mitigating environmental and
social risks that may affect the business processes of the
financial industry.
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3) The development of real programs is intended to provide

examples of successful development of innovative green
schemes through pilot projects aimed at increasing the role
of the financial industry in sustainable financing.

4) Innovation of sustainable financial products and

services in the framework of acceleration of the transition
of the financial industry towards sustainability carried out
by developing innovative schemes of sustainable project
financing/funding.

5) National campaign for sustainable finance that aims to

build an understanding of the importance of activities that
take into account environmental, social, and governance
aspects. This effort is carried out through the formation of
a communication strategy as well as various educational
and dissemination activities.

F.
ASEAN BANKING
INTEGRATION
FRAMEWORK

ASEAN Banking Integration Framework (ABIF) is an ASEAN’s

initiative with the objectives to create an integration mechanism
and to accelerate banking integration through the provision of
market access and operational flexibility in ASEAN countries
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by observing the fulfilment Guidelines stipulates integration

of prevailing prudential principles that should be referred
requirements in each of the to as well as stages that should
ASEAN countries. be followed in this integration
process.
ABIF Guidelines has been agreed
upon at the end of 2014. This The best banks owned by the
document becomes the guide for ASEAN countries or known
ASEAN countries in undertaking with the terminology of
bilateral agreements related to Qualified ASEAN Bank (QAB)
banks that will be present in the should meet the agreed
ASEAN banking market. The ABIF requirements, namely:

Figure 2.12. Illustration of Requirements to Become Qualified ASEAN Banks.

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G.
BASEL FRAME WORK

1. Implementation of Basel Capital Framework

Indonesia, as one of the members in the G-20 forum as well

as other international forums, such as Financial Stability
Board (FSB), Basel Committee on Banking Supervision
(BCBS), has given its commitment in adopting
recommendations produced by those forums. In line with
that, and with the transfer of bank supervision function
from BI to OJK, the implementation of OJK’s tasks in the
future will not be separated from efforts to adopt those
various recommendations. In the process of adopting
the various above-mentioned recommendations, OJK will
continue to adjust to the condition and development of
the domestic banking industry.
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2. Evolution of Basel Capital Framework

Capital is one of the main focusses of bank supervisory authority in

implementing the prudential principle. BCBS has issued one capital
framework concept that has become an international standard, namely:
a. In 1988, it issued the capital concept as well as the calculation of Risk
Weighted Assets (RWA) specifically for credit risk;
b. In 1996, it enhanced the capital component by adding Tier 3 as well as
calculation of RWA for market risk;
c. In 2006, it issued the document entitled International Convergence on
Capital Measurement and Capital Standard (A Revised Framework) or
better known as Basel II;
d. In 2009, it issued Basel 2.5 recommendation, which covers the
framework of RWA calculation for market risk by using the internal
model, imposition of capital burden for securitization transactions,
risk management aspect on compensation, concentration risk,
reputation risk, and stress testing, valuation of all exposures recorded
based on fair values, and disclosure on securitization;
e. In 2010, in response to the global financial crisis, BCBS issued a
recommendation on enhancement of bank resilience, both at the
micro level as well as the macro level, or better known as Basel III.

Figure 2.13. Evolution of Basel Capital Framework in Indonesia.

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3. Implementation of Basel II Framework in Indonesia

a. Basel II Framework (Pillar 1, Pillar 1, and Pillar 3) in

Indonesia has been fully implemented since December 2012.
A number of regulations related to Basel II implementation
are illustrated as follows:

Figure 2.14. Implementation of Basel II Framework in Indonesia.

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b. Basel 2.5 Framework

For the purpose of the implementation of the remuneration
framework in Indonesia as part of the Basel 2.5 framework,
OJK has issued OJK Regulation No. 45/POJK.03/2015
concerning Implementation of Governance in Provision
of Remunerations dated 23 December 2015. Furthermore,
in January 2016, OJK has also made an enhancement to
Basel 2.5 Consultative Paper issued in 2013 by issuing a
Consultative Paper concerning securitization in January
2016.

c. Basel III Framework

1) Capital Framework
On 12 December 2013, BI Regulation No.15/12/PBI/2013
was issued concerning Minimum Capital Adequacy
Requirement for Commercial Banks, which stipulates:
(i) enhancement of capital quality through changes in
component and requirement on capital instruments
in accordance with the Basel III framework; (ii) the
obligation to provide capital ratio, which comprises
core capital ratio of no lower than 6% of RWA and ratio
of main core capital of no lower than 4.5% of RWA; and
(iii) the obligation to establish additional capital as the
buffer above the obligation to provide minimum capital
in accordance with the risk profile.
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Implementation of the regulation on Basel III has been

made in stages since 2014 to reach full implementation
in 2019, with the implementation stages in figure 2.15.

Figure 2.15. Basel III Capital Framework in Indonesia.

2) Liquidity Framework

Meanwhile, NSFR constitutes a liquidity measurement

with the purpose of enhancing bank long term liquidity
resilience by requiring any bank to fund its activities
with stable funds in amounts exceeding the required
amounts during a period of one year stress.

For the purpose of LCR implementation in Indonesia,

OJK has issued OJK Regulation No.42/POJK.03/2015
concerning Obligation to Meet LCR in December 2015.
In accordance with the prevailing OJK Regulation, the
obligation to meet LCR is made in stages in line with
the BCBS timeline, namely since 31 December 2015 with
a minimum ratio of 70% up to 31 December 2018 with a
ratio of 100% (each year, it is increased by 10%).
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Meanwhile, in relation to NSFR that is in line with BCBS

timeline, implementation of NSFR will start in 1 January
2018. Along this line, OJK has issued a regulation of NSFR
on July 2017.

3) Finalization Basel III Reforms (Finalizing post-crisis reforms)

In December 2017, BCBS published the Basel III document:

Finalizing post-crisis reforms which are refinement of
Basel III. The document revises a number of standards
included in Pillar 1 (minimum capital requirement),
namely: Credit Risk Standard Approach, Internal Ratings-
Based (IRB) Approach, Credit Valuation Adjustment
(CVA), Operational Risk, Market Risk, Leverage Ratio and
Output Floor.

The Basel III Reforms are expected to be implemented by

no later than January 1, 2022. However, in response to the
COVID-19 virus outbreak, BCBS decided to postpone Basel
III implementation from January 1 2022 to January 1, 2023.
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Figure 2.16. Background of 2007-2009 Global Financial Crisis.

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4) Leverage Framework
In an effort to limit the formation of excessive leverage
in the banking system, BCBS has also introduced an
additional ratio, namely leverage ratio, as one non-risk
based approach to supplement the capital ratios in
line with the risk profile that have been in effect. The
purpose of the leverage ratio is as a backstop of capital
ratios in line with risk profile to prevent the formation
of excessive leverage to prevent the occurrence of
worsening deleveraging process that can endanger the
whole financial system and the economy. The minimum
leverage ratio that has to be met is 3%, calculated by
dividing core (tier 1) capital with bank total exposure
(without weighted risk).

4. Regulatory Consistency Assessment

Program (RCAP)

At a meeting held at the end of November 2016 in Santiago,

Chile, the BCBS has made a decision concerning results of
the Regulatory Consistency Assessment Program (RCAP) on
Indonesian banking sector’s regulations. Indonesia’s Liquidity
Coverage Ratio (LCR) regulations are assessed as Compliant
(C) and its capital framework is assessed as Largely Compliant
(LC). RCAP has been conducted on all BCBS member countries
(28 jurisdictions), including Indonesia. RCAP is an assessment
process exercised by the BCBS to see whether the banking
regulations issued by a country’s authority are consistent with
the international banking standards issued by the BCBS.
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Indonesia has gained those comply with international

RCAP’s results with not so banking standards.
easy struggle. Preparation
for the RCAP had been made The grades that the RCAP
since 2014, starting with a self- has awarded to Indonesia
assessment that was carried render Indonesia’s banking
out to identify gaps between regulations at the same level
the Basel framework and the with those of other BCBS
prevailing regulations. Result member countries, including
of the self-assessment was for RCAP result for Indonesia’s
then submitted to the BCBS Capital framework, which has
for the BCBS’s reference when received the same grade as
RCAP assessors conducted that of the United States,
their assessment. Based which is an even higher grade
on their assessment result, than the one given to the
Indonesia must revamp 10 European Union.
regulations, to make them
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H.
TRANSFORMATION
OF REGIONAL
DEVELOPMENT BANKS
The Regional Development Bank (RDB) Transformation Program
was launched in 26 May 2016 by the President of Republic
Indonesia with the vision of creating RDB to become banks with
high competitiveness, strong, as well as having significant
contribution to the economic growth and equalization at
the regions in a sustainable manner. This vision is going to
be realized through three goals, namely: (i) enhancement of
the competitiveness of RDB; (ii) strengthening institutional
resilience; and (iii) enhancement of the contribution of RDB to
regional economies. These are illustrated in the figure 2.17:

Figure 2.17. Holistic Framework of Transformation Program.

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In order to achieve this vision, the implementation of the

the RDB Transformation program, each RDB will enter
Program will be implemented each stage and set business
through three stages/phases, goals and targets in line with
namely: (i) Foundation Building; the capacity and preparedness
(ii) Growth Acceleration; and of each RDB, as depicted in the
(iii) Market Leadership In following figure:

Figure 2.18. Illustration of RDB Transformation Implementation’s Stages.

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Currently, there are 3 (three) focuses of RDB (Regional

Development Bank) transformation or called Refocusing
RDB Transformation, namely:

1. Capital Strengthening

Each RDB is required to meet a minimum core capital

of no less than Rp. 3 trillion by 31 December 2024 at the
latest. Strengthening of the RDBs’ capital will certainly
increase competitiveness and meet local governments’
expectations.

Therefore, several alternative solutions for capital

strengthening can be adopted by the RDBs, among others
through business mergers, formation of Bank Business
Groups, and/or inviting strategic investors to join as RDBs’
Shareholders.

2. Improving the Quality of RDB HR

The quality of human resources is the main key to the

success of any bank. Therefore, the recruitment process,
career development and path, as well as remuneration
system need to be a concern in the management of any
RDB human resources.

3.
3) Digitalization of RDBs

Along with advances in information technology and the

incidence of Covid-19 pandemic, consumer behavior
and the financial services industry arrangement at the
national level are turning towards digitalization. Therefore,
RDB digitalization is one solution for the RDBs to compete
with other banks and be able to provide optimal services
to the community.
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I.
CREDIT REPORTING
SYSTEM
The Credit Reporting System private parties. This concept
(CRS) that is going to be will synergize the role of OJK
implemented in Indonesia is a as the authority in charge of
dual system concept so that in collecting data from FSI and
Indonesia in the future there the power of private sector
will be a Public Credit Registry in developing innovations
(PCR) managed by OJK and that will produce various
a number of Private Credit information products and
Bureau (PCB) managed by services required by FSI.

The dual CRS concept in Indonesia is described as follows:

Figure 2.19. Illustration of Credit Reporting

System in Indonesia’s Framework.
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In terms of PCR (Public On the side of PCB, a PCB in

Credit Registry), the OJK Indonesia is known with the
has implemented Sistem name of Lembaga Pengelola
Layanan Informasi Keuangan/ Informasi Perkreditan (LPIP)
SLIK (Financial Information regulated in BI Regulation
Service System). SLIK is Number 15/1/PBI/2013
useful for supporting the OJK’s concerning LPIP and BI
tasks as well as assisting Circular Letter Number 15/49/
the public and financial DPKL dated 5 December 2013
service institutions (FSIs) in concerning LPIP. A LPIP is an
making decisions regarding institution or agency that
the provisions of funds. The collects and processes credit
procedure for reporting and data and other data to produce
requesting debtor information value-added credit information
through the SLIK is stipulated such as credit profile and credit
in OJK Regulation Number scoring, customer monitoring,
18/POJK.03/2017 concerning credit alerts, and Small
Reporting and Requesting Medium Enterprise (SME)
Debtor Information through grading. A LPIP can undertake
the S i st e m Layanan cooperation with financial and
Informasi Keuangan as non-financial institutions in
amended by OJK Regulation order to widen and enrich the
Number 64/POJK.03/2020 coverage of credit data and
concerning Amendment to other data.
OJK Regulation Number 18/
POJK.03/2017 concerning
Reporting and Requesting
Debtor Information through
the S i st e m Layanan
Informasi Keuangan and OJK
Circular Letter Number 50/
SEOJK.03/2017 concerning
Reporting and Requesting
Debtor Information through
the Sistem Layanan Informasi
Keuangan.
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J.
BANKING INFORMATION SYSTEM
FOR THE PURPOSE OF SUPPORTING
BANK SUPERVISION TASK

1. Bank Information System

Bank Information System/Sistem Informasi Perbankan

(SIP) is an information system used by bank supervisors
in analyzing a bank’s condition, performing assessment
of Bank Soundness Level by using Risk Based Bank Rating
(RBBR), speeding up access to information on bank’s
financial condition, enhancing security and integrity of
banking data and information.

SIP is developed for the purpose of supporting bank supervision task through
quality information, by providing the following functions:

a. as a business tool while at the same time a medium for rapid information
presentation up to the strategic level;

b. providing information at macro level, individual bank level, as well as

other information related to bank business environment; and

c. integrating data which is currently scattered in different systems.

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2. Management Information System of BPR Supervision

As an effort to improve the quality of determining the focus of inspection

BPR supervision, the development conducted by supervisors so that
of BPR information system leads to it is expected to improve the
a more focused supervisory system effectiveness and efficiency of OJK
in terms of off-site and on site supervision on site. In addition, the
monitoring to the conditions faced development of Enterprise Data
by BPR. Implementation of the Early Warehouse (EDW) BPR is expected
Warning System (EWS) of the RB is to be an effective means to monitor
conducted to support monitoring of and present information on the
off-site BPR conditions, and then to condition of the BPR as a whole as
complete periodic BPR health rating a matter of determining the policy
assessments. The result of EWS to be taken.
analysis is intended to be used in

3. OJK-BI-LPS Report Integration

"Reporting Integration is a joint LPS to establish and maintain an

effort initiated by the OJK, BI and integrated information exchange
LPS (Indonesia Deposit Insurance facility. Implementation of the
Corporation) concerning the the three institutions’ reporting
establishment of a more integration is realized through
efficient reporting mechanism implementation of the reporting.id
by integrating all information as a single portal for submissions
reported by banks. The initiative is of reports from banks to the
intended to minimize redundant authorities. Development of the
and inconsistent information Reporting.id was completed in
as well as to promote efficiency December 2019 and has been
in bank operations. The OJK, BI, used by the APOLO as well as the
and LPS Reporting Integration is BI-ANTASENA users since January
the mandate of Article 43 of Act 2020 accessable through the
number 21 of 2011 concerning OJK, address www.pelaporan.id."
which requires the OJK, BI, and
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4. OJK Online Reporting Application

APOLO is a web-based application that serves to provide services to

Financial Institutions in fulfilling the obligation of online reporting. APOLO
can be accessed by internal or external users of OJK through the website
https://apolo.ojk.go.id.

APOLO facilitated reporting as attached at Appendix.

5. OJK Box (O-Box)

The O-Box application is an application that can display preliminary

supervision information consisting of quantitative as well as qualitative
information provided by Banks through a repository. The repository will be
accessed by the supervisors via the O-Box Web.
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6. Financial Information Services System

Financial Information Services System (SLIK) is an information

system managed by OJK to support the implementation of
supervisory duties and information service in finance.

a. For the Community B. For Indonesia

1. Speed up credit/financing approval time. 1. Support sustainable economic growth.

2. Expand access for MSME debtors and the 2. Support the implementation of good governance by providing
informal sector to obtain credit/financing credit/financing information to state agencies (KPK, Police,
based on credit/financing reputations. Central Bank, etc.)

3. Prompt debtors to maintain credit/ 3. Improve Indonesia’s Ease of Doing Business (EODB) ranking,
financing reputations. especially in the aspect of obtaining credit.

1. Accelerate credit/ Tool for effective

financing growth supervision in The
2. Mitigate credit risk Financial services
and reducing NPL sector

Figure 2.20. Roadmap of SLIK Implementation.

In accordance with the provisions of to support credit access information

legislation, OJK is authorized to regulate through SLIK.
and develop an expanded inter-bank
information system involving other SLIK can be used to facilitate the process
institutions in the financial sector. of providing funds, the implementation
Therefore, in order to carry out its of risk management, the assessment
duties and functions, OJK deems it of the quality of debtors, and improve
necessary to develop a new system the discipline of the financial industry.
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The SLIK has been fully

implemented starting January
1, 2018. Since that date, the
public is able to obtain debtor
information services through the
OJK’s Head Office and Regional
Offices/OJK Offices.
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Figure 2.21. Timeline of SLIK.

However, since the occurrence of the COVID-19 pandemic, the

provision of debtor information services has been carried out by
the OJK’s Head Office online. At the start of the implementation
of the provision of debtor information services online, members
of the public could access a special page to carry out registration
and get queue numbers for debtor information services with
a maximum quota of 100 up to 150 queues per day. Due to the
high public demand for these services, the OJK has raised the
service quota to 500 queues per day. In addition, the provision of
debtor information services has been gradually made available
by the Regional Offices/OJK Offices, both online and in walk-in
manners.
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Figure 2.22. Illustration of Coverage of Debtor Information Accessible By The Public.

Through the provision of SLIK data, in addition to providing

benefits to the public, the OJK also supports the Government,
in the context of the National Economic Recovery program,
especially the Interest Subsidy Program implemented
by the Ministry of Finance. The SLIK data is also used by
other Ministries and agencies including the Kemenkop
UKM (Ministry of Cooperatives and Small and Medium
Enterprises), Kemenparekraf/Baparekraf (Ministry of
Tourism and Creative Economy/Agency for Tourism and
Creative Economy), and Bappenas (National Development
Planning Agency).
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K.
CONSUMER
EDUCATION AND
PROTECTION

Article 4 of Act Number 21 of 2011 concerning Otoritas Jasa

Keuangan states that one of the tasks of OJK is to provide
protection for the Consumers and/or the public. In relation to
Consumer protection, this Act states that:

1. A Financial Service Institution is an institution that conducts

activities in the Banking, Capital Market, Insurance, Pension
Fund, Financing Institution sectors and other Financial
Service Institutions.

2. Consumers are parties who place their funds and/or utilize

services provided at FSIs, covering among others customers
at Banks, investors at Capital Market, police holders at the
Insurance sector, as well as participants in Pensiun Funds,
based on legislations applicable in the Financial Services
Sector.
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For the purpose of principles. This regulation

implementing Consumer stipulates the obligation
protection, OJK has issued of FSI to provide financial
OJK Regulation Number 1/ education to the Consumers
POJK.07/2013 concerning and/or public so that they can
Financial Services Sector better understand the basic
Consumer Protection and features, rights, obligations
OJK Regulation Number 18/ prior to and when utilizing
POJK.07/2018 concerning financial products / services.
Consumer Complaint Service This can reduce the potential
in Financial Services Sector for Consumer losses due to
which states that Financial lack of understanding/lack of
Services Business Actors (FSI) clarity/erroneous information
are Commercial Banks, Rural given by FSI. In addition,
Banks, Security Companies, with regards Consumer
Investment Advisors, protection, FSIs are obliged to
Custodian Banks, Pensiun apply transparency principle,
Funds, Insurance Companies, fair treatment, reliability,
Re-insurance Companies, Consumer data/information
Financing Institutions, Pawn confidentiality and security,
Companies, and Guarantee and complaint handling, as
Companies, covering those that well as settlements of disputes
conduct business activities with the consumers in a
in conventional manner simple, quick, and financially
as well as based on sharia affordable manner.
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1. Financial Consumer Protection

Strategy (SPKK)

In line with the providing opportunities and

implementation of the POJK opportunities for financial
Consumer Protection for services institutions to
Financial Services Sector, develop fairly, efficiently and
OJK formulated the Financial transparently, and realizing
Consumer Protection consumers who have an
Strategy (SPKK) for the period understanding of the rights
of 2013-2027 which has a and obligations in associated
vision of "creating market with financial services
discipline in Indonesia’s institutions".
financial services sector,
which will support In realizing the vision and
financial system stability mission above, SPKK period
and national economic 2013-2027 consists of 4 (four)
growth sustainability pillars, namely: Infrastructure
in Indonesia" and has a pillars, Regulation pillars,
mission of "increasing Market conduct pillars,
consumer and community and Pilar Education &
trust in every activity in the Communications.
financial services sector,
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Figure 2.23. Pillar of 2013 – 2027 Financial Consumer Protection Strategy.

OJK has two approaches in performing its function in the field

of FSS consumer education and protection, namely:

a. Preventive Actions

Preventive actions are carried public so that they have

out in the forms of regulation a good understanding of
and implementation in the financial service products
field of consumer education and services (including basic
and protection. Education, features, benefits and risks
which is preventive in of financial service products
nature, is required as the and / or services, as well as
initial step for enhancing the rights and obligations of
financial literacy of the financial consumers).
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b. Repressive Actions

Repressive actions are undertaken in the forms of

complaint settlements, facilitations for dispute settlements,
suspensions of activities or other actions, and legal defenses
to protect consumers. OJK undertakes preventive and
repressive actions that are directed at financial inclusion
and financial system stability.

Figure 2.24. Illustration of Efforts on Consumer and/or Public Protection.

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In addition to educating and delivering information, OJK must

also ensure that the products and services provided by LJK meet
the principles of consumer protection.

2. Integrated Consumer Services OJK

(Contact Center OJK 157)

Establishment of Integrated Consumer Services is one of the

implementation forms of the mandate of the Act concerning
OJK in its effort to provide education and protection for the
Consumers and public against violations of the Act and
regulations applicable in the FSS under the authority of OJK.
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In order to provide consistent services, meet applicable

requirements, achieve Customer/ community satisfaction, and
make continuous improvement, OJK’s Customer Service has
implemented and achieved ISO 9001: 2015 certification since
November 24, 2016.

There are three types of OJK Consumer Services that can be

obtained by the community, namely :
a. become a place for Consumers to convey information;
b. a place for the financial Consumer and the community
to ask;
c. becomes a place for Consumers to submit complaints
relating to products and / or services made and offered by
PUJK under the authority of OJK.

Especially for the submission of complaints, the required

documents are as follows:

1) the evidence has submitted a complaint to the relevant PUJK

and / or the answer;
2) complete identity;
3) statement letter signed on sufficient stamp duty that the
proposed Dispute is not in process or has been decided
by a judicial institution, arbitration, or alternative dispute
resolution institution and has never been facilitated by the
Financial Services Authority
4) evidence of receipt of Complaints signed or issued by the
PUJK/proof of submission to Financial Services Providers/
confirmation of receipt of Complaints
5) Consumers and/or communities are free of charge to obtain
all the above services.
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The total number of OJK by consumers and the public

Consumer Services in 2020 have been WhatsApp with
came to 271,202 services, a 183,269 services (67.58%),
rise of 98.29% compared to followed by the 157 Contact
the services in 2019. The 2020 OJK telephone service with
Consumer Services consisted 40,149 services (14.80%). The
of 5,550 receipts of information average completion rate
or reports (2.05%), 263,190 of services that have been
provisions of information carried out until the end
or questions (97.05%), and of 2020 reached 97.92%,
2,462 complaints (0.91%). The including the completion of
most widely used channels carry-over services.

Figure 2.25. Illustration of OJK’s Consumer Services.

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Visitor Center

In line with the development of Otoritas Jasa Keuangan’s

Kontak 157 (Contact number 157), the public’s needs for services
concerning information, inquiry, as well as submissions of
complaints have also risen.

In consideration of the statistics of education related to the

on services handled, especially financial services sector. The
services related to information OJK’s Visitor Center provides
requests and receipts of materials and information
complaints by walk-in visitors about the financial sector
(consumers and/or members of required by the consumers
the public visiting OJK’s Head and the public in the forms
Office), the OJK launched the of videos, catalogs, books,
Visitor Center at the end of 2019 in flyers and other media. There
order to provide services related are Kontact 157 officers who
to receipts and provisions of are always ready to provide
information as well as provision information to the consumers
and/or the public who come
to consult on problems in the
financial services sector. To
get consultation services,
the consumers and/or
the public can visit from
08.00 to 16.00 WIB (Western
Indonesian Time). The Visitor
Center Room, located on the
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2nd Floor, Radius Prawiro safety and comfort in the OJK

Tower, Bank Indonesia Office Office’s environment, visitors to
Complex, Jl. M. H. Thamrin No. 2, the OJK Visitor Center are asked
Central Jakarta is available and to comply with applicable rules,
ready to provide good services such as prohibitions to make
to the consumers as well as the audio or video recordings or to
public. However, to maintain take pictures.

3. Internal Dispute Resolution

Standard (IDR Standard)

OJK expects that each FSI can implement IDR standard to realize
excellent consumer protection.

Broadly, an IDR standard has consumer services; providing

three important benefits for a certainly in business process /
FSI, namely: encouraging the mechanism related to IDR; and
FSI to have a guide / basis encouraging good settlements
for developing a minimum of complaints on the sides of
Standard Operating Procedure the FSI and Consumers.
(SOP) for the implementation of
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Figure 2.26. IDR Standard Infographics.

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Implementation of IDR Standard should be based

on nine principles:

Scan the QR Code on the

top for read IDR completely
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In implementing complaint handling, a FSI is obliged to

perform follow ups and settlements of complaints within no
later than 20 working days, with a time extension of no later
than the next 20 working days by giving written notices to the
Consumers prior to the expirations of the set time periods
(under certain conditions).

The basic principles of IDR implementation have been

strengthened by the enactment of OJK Regulation Number 18
/ POJK.07 / 2018 concerning Consumer Complaint Services in
the Financial Services Sector.

4. Consumer Protection Portal Application

(Aplikasi Portal Perlindungan Konsumen/APPK)

In 2021, OJK has launched an integrated consumer

service system in the financial services sector in the
form of a web-based application called APPK/ Aplikasi
Portal Pelindungan Konsumen (Consumer Protection
Portal Application).

This system has been APPK is a web-based system

developed to optimize that can be accessed online
implementation of complaint by all parties. APPK’s main
and dispute resolution services that can be used by
handling in the Financial consumers and the public
Services Sector. The presence are inquiry, information and
of APPK also complements complaint services. For inquiry
the existing 157 Contact and information services,
OJK service channel either consumers and the public
via telephone, email, and can use these services if
whatsapp as a form of OJK’s they have questions or wish
services to the public. to provide information to
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APLIKASI PORTAL
PERLINDUNGAN KONSUMEN

Mengapa Penanganan Pengaduan dan

Penyelesaian Sengketa Konsumen itu Penting?

Penanganan Pengaduan Stabilitas

Perlindungan Kepercayaan
dan Penyelesaian Sistem
Konsumen Konsumen
Sengketa Konsumen Keuangan

Mekanisme penanganan pengaduan dan

Mekanisme penanganan pengaduan dan penyelesaian
penyelesaian sengketa saat ini sengketa dengan menggunakan APPK

Tahap 1 Tahap 2 Tahap 1 Tahap 2

Internal Dispute Resolution External Dispute Resolution
Internal Dispute Resolution External Dispute Resolution
Konsumen PUJK Konsumen menolak tanggapan PUJK dan mengajukan
LAPS Konsumen
LAPS

penyelesaian di luar pengadilan

LAPS
LAPS
Lembaga
Alternatif
Penyelesaian Lembaga
Sengketa Alternatif
PUJK Penyelesaian
Sengketa Sengketa
Pengaduan

Pengaduan Aplikasi Portal

Perlindungan
Pengadilan Konsumen

Pengadilan*
Pengaduan
(tidak lewat APPK)

* Konsumen dapat memilih

penyelesaian sengketa melalui
pengadilan (litigasi), namun tidak

Kondisi saat ini dicatat dalam APPK

Konsumen masih banyak yang bingung bagaimana menyampaikan Tidak terdapat sistem terintegrasi antara Konsumen - PUJK - LAPS,
pengaduan sehingga terdapat duplikasi permintaan klarifikasi dan dokumen
sehingga memerlukan waktu lama (tidak efektif dan efisien)
Masih terdapat PUJK yang belum memiliki sistem penerimaan dan
penanganan pengaduan yang baik Penanganan pengaduan dan penyelesaian sengketa tidak dapat
termonitor dengan baik oleh OJK

Para pengguna dan manfaat APPK

Akses dan Fitur APPK
LAPS

Konsumen LAPS
Lembaga Alternatif Penyelesaian Sengketa

Mudah menyampaikan pengaduannya kepada PUJK Mudah menerima informasi pengaduan dari konsumen Akses APPK untuk : Fitur APPK :
Dapat dilakukan kapan dan dimana saja, sepanjang (terdapat alert dan notifikasi)
dapat mengakses jaringan internet o Konsumen o Alert dan Notifikasi
Mudah menginformasikan tindaklanjut penanganan o Pelaku Usaha Jasa Keuangan (PUJK) (sesuai dengan ketentuan OJK)
Mudah memantau penanganan yang sedang dilakukan pengaduan ke konsumen
PUJK
o Lembaga Alternatif o Dashboard dan penyusunan laporan
Mendapatkan informasi berharga untuk perbaikan Penyelesaian Sengketa (LAPS) o Nomor tiket untuk mempermudah
Mudah meneruskan sengketanya ke LAPS produk dan layanannya o Internal OJK pemantauan layanan

PUJK

Pelaku Usaha Implementasi APPK

efektif berlaku mulai
Memastikan pengaduan Konsumen ditangani secara
Mudah menerima permintaan penyelesaian sengketa baik dengan memantau :
dari konsumen o penanganan pengaduan oleh PUJK
o penyelesaian sengketa oleh LAPS
Mudah mendapatkan dokumen pengaduan (dokumen
IDR diteruskan)
Mendapatkan informasi pengaduan yang berindikasi
pelanggaran untuk dapat segera ditindaklanjuti awal tahun 2021
Mudah menginformasikan tindak lanjut penanganan Mendapatkan informasi untuk menjadi dasar
sengketa ke konsumen penyempurnaan ketentuan dan pengawasan

Figure 2.27. Consumer Protection Portal Application Infographics.

the OJK regarding the financial services sector. For example,

questions or information related to the legality of companies
as well as about financial products and services. Meanwhile,
the complaint service can be used by consumers who wish to
submit complaints to Financial Service Business Actors (FSBAs)
regarding the financial products or services the consumers use.
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5. Integrated Alternative Dispute Resolution

Agencies (LAPS)

A Lembaga Alternatif Penyelesaian Sengketa/LAPS

(Alternative Dispute Resolution Agency) in the Financial
Services Sector is an out-of-court consumer dispute
resolution forum that is credible and can be trusted by
the public and the Financial Service Business Actors
(FSBAs).

A dispute resolution through (Indonesian Insurance Mediation

a LAPS is carried out if the and Arbitration Board), Badan
dispute resolution between any Arbitrase Pasar Modal Indonesia/
consumer and any FSBA known BAPMI (Indonesian Capital
as an IDR (Internal Dispute Market Arbitration Board), Badan
Resolution), does not reach Mediasi Dana Pensiun/BMDP
an agreement. A LAPS provides (Pension Fund Mediation Board),
dispute resolution services Lembaga Alternatif Penyelesaian
that are easily accessible, fast, Sengketa Perbankan Indonesia/
inexpensive, and carried out LAPSPI (Indonesian Banking
by human resources who are Alternative Dispute Settlement
competent and understand the Board), Badan Arbitrase dan
FSS (Financial Services Sector). Mediasi Perusahaan Penjaminan
Indonesia/BAMPPI (Indonesian
In 2016, there were 6 (six) LAPS Guarantee Company Arbitration
in each financial services and Mediation Board), and Badan
sector that were included in Mediasi Pembiayaan, Pergadaian
the OJK’s List of LAPS, namely dan Ventura Indonesia/BMPPVI
Badan Mediasi dan Arbitrase (Indonesian Financing, Pawning
Asuransi Indonesia/BMAI and Venture Mediation Agency).
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Figure 2.28. Integrated Alternative Dispute Resolution Agencies.

Office Address:
Wisma Mulia 2,16th floor. Jl. Gatot Subroto, RT.6/RW.1, Kuningan Barat,
Kec. Mampang Prpt., Kota Jakarta Selatan, Daerah Khusus Ibukota Jakarta 12710
Website: https://lapssjk.id/
Email: [email protected] atau
Phone 021-29600292.
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In accordance with the all consumer disputes in

Roadmap for Dispute Resolution the financial services sector,
Mechanism Strengthening thereby increasing the
through Lembaga Alternatif accessibility of consumers and
Penyelesaian Sengketa/LAPS FSBAs to LAPS in the financial
(Alternative Dispute Resolution services sector and stepping up
Agency) in the Financial consumer confidence so that
Services Sector (2018 – 2020), the financial services sector
an Integrated LAPS has been can grow sustainably. The team
established. The integrated comprises representatives of
LAPS aims to create an out- associations of the Financial
of-court dispute resolution Services Sector and Self-
forum capable of handling Regulatory Organizations
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(SROs). In establishing the Education and Protection

Integrated LAPS, the OJK has Number KEP-3/D.07/2020
collaborated with LAPS in the concerning Approval on
financial services sector in Alternative Dispute Resolution
developing a work mechanism Agency in the Financial Services
or Standard Operating Procedure Sector set on 29 December
(SOP) for Integrated LAPS. 2020, the LAPS SJK obtains the
This arrangement has been OJK’s approval as an alternative
designed by a team comprising dispute resolution agency in the
representatives of LAPS in the financial services sector that
financial services sector. On meets the requirements as
September 22, 2020, a General stipulated in the Otoritas Jasa
Meeting of Founders was held Keuangan Regulation Number
by the associations and SROs 61/POJK.07/2020 concerning
which determined the name of Alternative Dispute Resolution
the LAPS as Lembaga Alternatif Agency in Financial Services
Penyelesaian Sengketa Sektor Sector.
Jasa Keuangan/LAPS SJK
(Financial Services Sector It is hoped that in the future
Alternative Dispute Resolution LAPS SJK will have branch
Agency). offices in the regions and the
dispute resolution processes
Through the Decree of the can be carried out online
Member of the Board of (Online Dispute Resolution/
Commissioners for Consumer ODR).

LAPS SJK’s Secretariat:

Wisma Mulia 2,16th floor
Jalan Gatot Subroto Number 42, South Jakarta 12710
Phone : 021-29600292
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6. Market Conduct

For the purpose of creating and developing the FSS and

enhancing Consumer protection, OJK undertakes Consumer
protection monitoring and analysis by using the Self
Assessment by FSI method and Thematic Surveillance).

Figure 2.29. Consumer Protection Monitoring and Analysis Method.

Results of thematic surveillance market intelligence results,

analyses, in which results of are further discussed to come
initial analyses are compared up with recommendations for
with results of implementation the bank supervision work
of the thematic surveillance unit to perform supervisory
activities, through Consumer actions (imposition of
protection policy as well as sanctions.
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Advertising Monitoring

Through the Sistem Informasi Pemantauan Iklan Keuangan/SPIKE

(Financial Advertisement Monitoring Information System), the OJK
monitors advertisements for financial products and services in
mass printed media, social media, and online media.

In 2020, the OJK has verified 15,154 superlative words without credible
(fifteen thousand one hundred supporting references.
and fifty four) financial service
advertisements, 23.58% of which has The OJK has sent as many as 34 (thirty
been declared not to be in line with four) coaching letters throughout
applicable stipulations. Criteria that 2020 on advertisement violations that
have been frequently violated were have occurred. The Coaching Letters
mostly Unclear (98.1%), Misleading and Guideline for Financial Service
(4.4%), and Inaccurate (0.9%). The Advertising that has been in force since
number of violated criteria is more 2019 have proven to be able to reduce
than the total number of violating the level of advertising violations.
ads, because one ad can violate more In addition, the OJK has also made
than one criteria. Types of violations improvements to the Guideline for
include: advertisements that did not Financial Service Advertising, which
include the statement "registered has been officially implemented
and supervised by the Otoritas Jasa since 2019, so that it is suitable for
Keuangan", advertisements that did implementation on the characteristics
not include specific links in the cases of advertisements in various media.
of advertisements that require further Based on the improvements of
explanation, advertisements that used the Guideline, the OJK has also
phrases and/or statements that could updated data of Financial Service
lead to different perceptions from the Business Actors (FSBAs) so that the
actual intents of the advertisements, monitoring coverage is wider and more
and/or advertisements that used comprehensive.
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Self Assessment

Each FSBA is required to submit a Self Assessment Report through

the Sistem Informasi Pelaporan Edukasi dan Perlindungan
Konsumen/SI PEDULI (Consumer Education and Protection
Reporting Information System) every year during the reporting
period (1 June to 30 September). In view of the unfavorable
condition due to the Covid-19 Pandemic, the OJK has extended
the deadline for submission of the 2020 Self Assessment Report
by FSBAs to October 31, 2020.

As of October 31, 2020, there assessment questionnaire,

were 2,137 FSBAs that have followed by the NBFI sector with
submitted the self-assessment 431 FSBAs out of a total of 630
reports through SI PEDULI or 75% (68%), and the Capital Market
of the FSBAs that have been sector with 168 FSBAs from a
requested to submit reports. total of 328 (51%). Meanwhile,
Based on the sector, the based on the achievement of the
percentage of submissions self-assessment average score,
of the self-assessment reports the Capital Market sector has
was dominated by the banking the highest average score (79)
sector with 1,538 banks out of followed by the NBFI sector (69),
a total of 1,869 banks (82%) and the Banking sector (64).
having submitted the self-
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Figure 2.30. Illustration of Cases of Unlicensed Funds Mobilization.

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Figure 2.31. Understand the Regulations in Doing Telemarketing.

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Figure 2.32. Tips for Protecting Personal Data.

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Figure 2.33. Recognizing SIM Card Swap Scam Modes.

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CHAPTER 3

Development
and Direction of
OJK’s Banking
Policy
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A.
OJK’S 2021
POLICY
DIRECTION

“Momentum of Post-Covid-19 Financial Services

Sector Reform in Accelerating Inclusive National
Economic Recovery.”

The OJK assesses that in 2021, in the short term, it will still face
various challenges, including:

The demand for goods and services will still be weak as

a result of the limited mobility and the weak purchasing
power of the people
Acceleration of the handling the Covid-19 pandemic; and
There is a momentum for digitalization to support economic
and financial activities
In addition, structurally, the financial services industry will
still face several challenges, including:
(i) limited competitiveness and economies of scale;
(ii) yet shallow financial market;
(iii) the need for accelerated digital transformation in the
financial services sector;
(iv) development of the sharia finance industry that is not
yet optimal; and
(v) inequality in financial literacy and inclusion.
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Having taken into consideration the various challenges

mentioned above in setting priorities and directions in its
policies for the future, the OJK will focus on five policies and
initiatives, including:

1.
POLICY ON STIMULUS FOR THE NATIONAL
ECONOMIC RECOVERY PROGRAM

a. Extension of the policy on restructuring for debtors affected

by Covid-19 until 2022.
b. Provision of a sovereign rating in the calculation of risk-
based capital in the case of any FSI that buys securities
issued by the Investment Management Agency (Lembaga
Pengelola Investasi)
c. Restructuring for recurring credit/financing during the
relaxation period
d. The temporary relaxation of prudential policies as follows:
1) Restructuring of recurring credi/financing during the
relaxation period and without unreasonable/excessive
costs
2) Lowering of credit risk weight (RBWA/Risk-Based
Weighted Asset) for Crdits and Financing of Properties
and Motor Vehicles
3) Adjustment to the Maximum Limits on Credit
Extensions and Lowering of Credit Risk Weight (RBWA)
for the health sector
e. Facilitate and accelerate access to financing for MSMEs by
expanding the Rural Business Credit (Kredit Usaha Rakyat/
KUR) Cluster pilot project.
f. Integrated digitalization of community economic activities
from upstream to downstream through the development
of Bank Wakaf Mikro/BWM (Micro Waqf Banks), KUR,
securities crowdfunding platforms, and the UMKM-MU
digital marketplace.
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2.
STRENGTHENING THE RESILIENCE AND
COMPETITIVENESS OF THE FINANCIAL
SERVICES SECTOR

a. Accelerate the consolidation of the financial services industry

through the gradual implementation of minimum capital
policy.
b. Strengthening the implementation of governance and risk
management through a number of policies, including Limits
on Investments and Provisions of Large Funds, Enhancement
of Stipulations on Capital, as well as Determination of
Supervisory Status and Follow-Up (Exit Policy).

3.
DEVELOPMENT OF FINANCIAL
SERVICES SECTOR ECOSYSTEM

a. Continue the policy on capital market development by

maintaining market integrity and developing the retail and
domestic investor bases.
b. Encourage the financial service institutions to undertake
digital-based and multi-activities businesses
c. Accelerate the expansion of financial access, enhance public
financial literacy through KUR, BWM, Laku Pandai and Student
Savings, as well as strengthen consumer protection.
d. Implement Sustainable Finance through the Roadmap for
Sustainable Finance Phase II 2021-2025.
e. Improve human resources capability in the financial services
sector based on the blueprint for development of human
resources in the financial services sector for 2021-2025.
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4.
ACCELERATION OF DIGITAL
TRANSFORMATION IN THE FINANCIAL
SERVICES SECTOR

a. Boost the digitalization of products and business processes

in the financial services industry, including granting
licenses to financial service institutions for operating fully-
digitalized businesses (digital banks).
b. Strengthen prudential rules for fintech peer to peer
lending (P2P lending) by raising the minimum capital
for P2P Lending and applying Fit & Proper Tests on their
management members.
c. Support the growth of fintech start-ups by developing a
regulatory sandbox that applies the same business, same
risks, same rules applied principle to minimize regulatory
arbitrage.
d. Prepare a Sharia financial product ecosystem by digitalizing
sharia products, stepping up the scales of the sharia
financial businesses, and expanding public access to
sharia financial products.

5.
STRENGTHENING OJK’S
INTERNAL CAPACITY

a. Develop integrated supervision of all financial service

products including digital products, as well as monitor
potential risks originating from outside the financial services
sector and corporate companies.
b. Align the market conduct supervision process with the
product life cycle stages.
c. Strengthening digital-based supervision and surveillance
business processes through business process reengineering
supported by strengthening data management integration.
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B.
DEVELOPMENT OF OJK POLICIES IN
THE BANKING SECTOR UP TO
DECEMBER 2020

Banking Development 2020

In the midst of global and domestic maintained. Despite the contraction in
economic conditions that are still credit, TPF (third-party funds) grew by
affected by the COVID-19 pandemic, 11.11% (yoy). Banking liquidity was also
banking resilience in 2020 in general adequate, as reflected in the LDR, LA/
was still maintained, as reflected in the NCD and LA/TPF ratios of 82.24%, 146.72%
condition of banking capital which was and 31.67%, respectively. However, it is
quite solid with Commercial Bank CAR necessary to pay attention to the rise in
in December 2020 of 23.81%. This shows credit risk and drop in profitability along
banks’ adequate ability to absorb risk. with economic activities that have not
The banking intermediation function yet recovered due to the impact of the
has dropped slightly but was still COVID-19 pandemic.

Source: SPI and LBU, December 2020 Table 3.1. General Condition of Commercial Banks.
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1.
PERFOMANCE OF CONVENTIONAL
COMMERCIAL BANKS (CCBS)

In line with the performance of Commercial Banks, the

resilience of CCBs has been quite solid as reflected in the
CAR of 23.89% which is still far above the threshold.

The CCBs’ intermediation function of the COVID-19 pandemic which

has dropped but was yet maintained has shrunk business activities.
as reflected in the LDR of 82.54% Along with the decline in credit
accompanied by adequate banking growth, the profitability of CCBs
liquidity as reflected in the LA/ has also dropped as reflected in
NCD and LA/TPF ratios which were ROA of 1.59%, lower than 2.47% of
recorded at 148.05% and 32.03%, the previous year. However, CCBs’
respectively, or far below above capital was still quite solid with
the 50% and 10% thresholds. At the rise in the CAR ratio as a result
the end of 2020, credit contracted of the decline in RBWA due to
by -2.91% (yoy) due to the impact declining credit.

Source: SPI, December 2020

Table 3.2. Development of The Performance of Conventional Commercial Banks in 2020.

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2.
PERFOMANCE OF RURAL
BANKS (RBs)

In December 2020, the RB industry showed a fairly good

condition marked by good intermediation, with credits
and TPF still recorded growths, although slowing down
compared to the previous year.

RB credits and TPF grew by 1.83% 2.31%. However, the resilience of RBs
(yoy) and 3.52% (yoy), lower than was still quite solid, supported by
the previous year’s growths of increased capital, although was still
10.76% (yoy) and 11.51% (yoy), overshadowed by a rise in credit risk
respectively. Along with this (NPLs) as a result of the COVID-19
slowing, the profitability of RBs pandemic which has reduced
also declined with ROA of 1.87% debtors’ ability to pay.
relative to the previous year of

Sumber: SPI December 2020

Table 3.3. Development of The Performance of Rural Banks in 2020.

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3.
PERFORMANCE OF SHARIA
COMMERCIAL BANKS

In line with the performance of commercial banks, the

resilience of SCBs was quite solid as reflected in the CAR
of 21.64% which was still far above the threshold.

The SCBs’ intermediation function COVID-19 pandemic which has

has dropped, so it is still necessary reduced business activities. Along
to optimize financing as reflected with the decline in financing growth,
in the FDR of 76.36% along with the profitability of SCBs has also
adequate banking liquidity as dropped as reflected in ROA of 1.40%,
reflected in the LA/NCD and LA/TPF lower than 1.73% of the previous year.
ratios which were recorded at 131.52% However, SCBs’ capital was still quite
and 26.72%, respectively or far above solid with the rise in the CAR ratio
the 50% and 10% thresholds. At the as a result of the decline in RBWA
end of 2020, financing slowed by due to the slowdown in financing.
9.50% (yoy) as impacted by the

Source: Otoritas Jasa Keuangan, 2020.

Table 3.4. Development of The Performance of Sharia Commercial Banks in 2020.

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4.
PERFORMANCE OF SHARIA
BUSINESS UNITS

In line with the performance of commercial banks,

the intermediation function of SBUs experienced a
slowdown, as reflected in the FDR of 96.01%.

At the end of 2020, financing financing growth, the profitability

slowed by 5.67% (yoy) as impacted of SBUs declined as reflected in
by the COVID-19 pandemic which the ROA of 1.81%, lower than the
has reduced business activities. previous year’s 2.04%.
In line with the slowdown in

Source: Otoritas Jasa Keuangan, 2020.

Table 3.5. Development of The Performance of Sharia Business Units in 2020.

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5.
PERFORMANCE OF SRBS

In December 2020, the SRB industry showed a fairly good

condition marked by intermediation that was still quite
good, with financing and TPF still recorded growths,
although slowing down relative to the previous year.

SRBs’ financing and TPF grew Nevertheless, the resilience of SRBs

by 7.42% (yoy) and 12.45% (yoy) was still quite solid, supported by
respectively, where financing grew a rise in capital with CAR of 28.60%
lower than the previous year (9.45%) from the previous year’s17.99%.
and TPFs were higher than the although it is still overshadowed by
previous year’s 7. 34% (yoy). Along a rise in credit risk (NPLs) as a result
with this slowdown, the profitability of the COVID-19 pandemic which
of the SRBs also dropped with ROA of reduced debtors’ ability to pay.
2.01% from the previous year’s 2.61%.

Source: Otoritas Jasa Keuangan, 2020

Table 3.6. Development of The Performance of Sharia Rural Banks in 2020.

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C.
CREDIT
INFORMATION
SERVICES

Since the full operation of the Financial

Information Service System (Sistem Layanan
Informasi Keuangan/SLIK) in January 2018, the
OJK has started providing debtor information
service (iDeb) to the public and financial service
institutions.

The number of SLIK reporters Cooperatives. In 2021,

at the end of December 2020 Securities Companies and
came to 2,021. Currently, Securities Funding Institutions
four Savings and Loans will become parties that are
Cooperatives have voluntarily required to report into SLIK.
registered to become SLIK In general, the public’s goal in
reporters, three of which are accessing debtor information
cooperatives that distribute services is to find out the
Kredit Usaha Rakyat history of the collectibility
(Rural Business Credit). quality of all credits belonged
Currently, SLIK reporters to any debtor in the previous
consist of Commercial 24 months. Throughout 2020,
Banks (conventional and the OJK through SLIK service
Islamic), RBs, SRFBs, outlets at the Head Office and
Financing Institutions, and Regional Offices/OJK Offices
other FSIs (except Micro in the regions, has provided
Finance Institutions), as 79,432 debtor information for
well as Savings and Loans public service.
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Source: SLIK

Figure 3.1. Number of Debtor Information for Public Service in 2020.

Throughout 2020, the OJK has served more than 147 million
iDeb requests from SLIK Reporters consisting of interactive
and batch iDeb requests (each batch request consists of a
maximum of 100 iDeb).

Source: SLIK

Figure 3.2. Number of Debtor Information by SLIK Reporters in 2020.

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D.
FINANCIAL INCLUSION
AND PUBLIC
EDUCATION

1. Financial Inclusion

In line with the President’s direction at the Limited Meeting

on the Inclusive Financial National Strategy on January 28,
2020, the target for Indonesia’s financial inclusion rate is
set at 90% by the end of 2024.

One of the efforts to boost the success of the KEJAR Program

financial inclusion is implemented and to ensure the realization of
among others through the Satu account ownership for all students
Rekening Satu Pelajar/KEJAR (One in Indonesia, it is necessary to
Student One Account) Program have coordination and synergies
and establishment of the Tim amongst various parties such as
Percepatan Akses Keuangan Ministries/Agencies, Regulators,
Daerah/TPAKD (Regional Financial Local Governments, Banking
Access Acceleration Team). Industry, and related stakeholders,
including strengthening of policies/
The KEJAR program is initiated by regulations. The KEJAR program
the OJK, relevant ministries, and the consists of Student Savings
banking industry in order to foster a products (SimPel/SimPel iB) and
culture of saving from an early age other children/student savings
and step up financial inclusion in products offered by banks. As of
student groups. In order to support December 2020, there were 30.15
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million children/student Each TPAKD has various work

savings accounts (including programs that are adapted
SimPel/SimPel iB) or in other to the condition in each
words 54.14% of students region, such as the KEJAR,
already have accounts. For SimPel, KUR, Laku Pandai,
2021, the target of the KEJAR Kredit/Pembiayaan Melawan
program is 70%. Rentenir / K/PMR Credit
(Credit/Financing to Counter
The rise in national financial Moneylenders), and Business
inclusion is also influenced by Matching Programs. In 2020, a
the rise in financial inclusion Generic Model for K/PMR has
in the regions. Therefore, the been developed, comprising
establishment of TPAKD at credit/financing provided by
the provincial/municipal/ authorized Financial Service
district level has been initiated. Institutions to MSE players
TPAKD is a coordination forum with a fast, easy, and low-cost
between relevant agencies and process to reduce dependence
stakeholders to accelerate on/influence of informal/
financial access in the regions illegal credit entities. As of
in order to boost regional December 31, 2020, 23 TPAKDs
economic growth and realize have implemented the K/
a more prosperous society. As PMR program. In addition,
of December 2020, there were on December 10, 2020 in
226 TPAKD that have been conjunction with the TPAKD
formed, namely 32 TPAKD at the National Coordination Meeting,
provincial level and 194 TPAKD the 2021-2025 TPAKD Roadmap
at the regency/municipal level. has been launched.
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2. Public Education

a. Achievement in Financial Education in 2020

Data from the Sistem Throughout 2020, 120 of

Informasi Pelaporan the 446 activities (26.91%)
Edukasi dan Perlindungan have been carried out.
Konsumen/SiPEDULI Enhancement of sharia
(Consumer Education financial literacy was carried
and Protection Reporting out in the forms of financial
Information System) per education for the community,
3 Maret 2021 and reports live Instagram, massive
from the internal work educational seminars
unit that implements both online and face-to-
education activities show face, as well as Training
that throughout 2020 of Trainers for Islamic
there have been 4,433 Boarding School Teachers/
educational activities Organizers. The materials
carried out. Of these presented at these activities
activities, 3,922 were included introduction to
carried out by Financial the tasks and functions
Service Business Actors of the OJK, awareness of
which reached 12,129,540 illegal investment offers,
participants, while 511 financial planning, as well
activities were carried out as introduction of sharia
by the OJK which reached financial products in line
115,821 participants. In with the capabilities and
addition, as an effort to needs of the participants.
enhance sharia financial These efforts are expected
literacy for the public, to contribute in stepping
the OJK has organized up public financial literacy,
sharia financial literacy especially in regards Islamic
and education activities. finance.
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b. Development of Community Financial

Literacy Infrastructure

1) Compilation of the Financial Literacy Series for Early

Childhood Education (ECE) which aims to introduce
the concept and use of money as well as to foster a
culture of saving and the concept of sharing.

2) Creation of publication materials in the form of

Public Service Advertisements with the themes of
Beware of Illegal Investments and Beware of Illegal
Online Loans.

3) Production of 4 (four) 3D animated videos of the

Sikapi Family series which will further become a
family icon in dissemination of financial products
and services according to needs at every stage of life.
In 2020, 4 episodes have been published, namely:
Savings Culture Theme, Working Capital Credit,
Gold Savings, and Hajj Savings. In addition, 1 (one)
video infographic has been created concerning
Introduction to Interest Calculation.

c. Financial Literacy Campaign through Social Media

Throughout 2020, the OJK has collaborated with 27

Instagram influencers for contents with the themes of
KEJAR program, Savings Culture, Debt Wisdom, Knowing
Kredit Pemilikan Rumah/KPR (Home-Ownership
Credit) Mortgage, Stocks, Mutual Funds, Beware of
Illegal Investments, Promotion of ECE books, SMS on
Illegal Online Loans, Sharia Savings and SIMUDA. As of
December 31, 2020, the total views generated for the
contents referred to were 6,988,775 views.
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E.
OTORITAS JASA KEUANGAN
REGULATION CONCERNING
ALTERNATIVE DISPUTE
RESOLUTION AGENCIES IN
FINANCIAL SERVICES SECTOR

Alternative Dispute Resolution Agencies (Lembaga

Alternatif Penyelesaian Sengketa/LAPS) in the
Financial Services Sector have previously been
stipulated in Otoritas Jasa Keuangan Regulation
Number 1/POJK.07/2014 concerning Alternative
Dispute Resolution Agencies in the Financial
Services Sector.

However, in the progress of for each financial services

the regulation, it is necessary sector, resulting in non-
to make enhancements to standardized services and
realize Alternative Dispute quality provided by each ADRA
Resolution Agencies (ADRAs) in resolving disputes in the
in the Financial Services financial services sectors, as
Sector that are more effective well as uncertainty in dispute
and efficient, as well as that resolutions for consumers
respond to the developments who use cross-sectoral
of technology, financial products and/or services.
products and services that services as well as for the
are increasingly complex and financial industries that do
cross-sectoral in financial not yet have ADRAs. In order
services field. Since 2014, to improve the effectiveness
there have been 6 (six) ADRAs and efficiency of dispute
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resolutions in the financial articles of association, list

services sector, it is necessary of mediators and arbitrators
to establish 1 (one) Financial as well as annual work plans
Services Sector ADRA which and budgets. In addition,
handles all disputes in the the existing regulation only
financial services sector, stipulates that the monitoring
both conventional and of the fulfillment of ADRA’s
sharia. Furthermore, in order principles by the OJK is only
to realize a credible Financial performed through reports
Services Sector ADRA, it is submitted by the ADRAs every
necessary to strengthen the 6 (six) months. As such, it is
arrangements regarding necessary to strengthen the
approvals, membership and aspect of supervision carried
general meetings of members, out by the OJK.
administrators, supervisors,

Thus, the regulation concerning ADRAs has been further

amended in the Otoritas Jasa Keuangan Regulation Number
61/POJK.07/2020 concerning Alternative Dispute Resolution
Agencies in Financial Services Sector, with the following
arrangements:

1. Functions, tasks and authorities of the Financial Services

Sector ADRAs;
2. Form of legal entity, membership, general meeting
of members, administrators, supervisors, articles of
association, list of mediators and arbitrators, as well as
annual work plan and budget of the Financial Services Sector
ADRAs;
3. Principles of Financial Services Sector ADRAs;
4. Reporting of Financial Services Sector ADRAs;
5. Criteria for disputes that can be handled and methods of
dispute resolutions by the Financial Services Sector ADRAs;
6. Security and provision of information and documents; and
7. Sanctions if ADRAs and FSBAs violate the stipulations
contained in this OJK Regulation.
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F.
PROVISION OF CAPACITY
BUILDING FOR REGISTERED
PUBLIC ACCOUNTANTS TO
CONDUCT AUDITS IN THE
BANKING SECTOR

1. Role of Public Accounting Firms and Public

Accountants in the Banking Sector

Based on Act Number 5 of 2011 Examinations by Public

concerning Public Accountants, Accountants that are carried out
Public Accountants have an in accordance with the prevailing
extremely important role in norms and provisions, particularly
supporting a healthy and efficient in the banking industry, will help
national economy as well as in ensure that banks constantly strive
enhancing transparency and quality to do better and to be more prudent
of information in the financial in conducting their business
field in the entire economy sector. activities. Furthermore, sound
Specifically in the financial services banks will be able to support the
sector, Public Accountants have a realization of a financial system
central role in protecting interest of that grows in a sustainable and
the public which includes various stable manner.
stakeholders, especially funds/
savings owners, investors, policy
holders, the Government, financial
service institutions, and the general
public.
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The enactment of OJK Regulation Number 13/POJK.03/2017 dated 27 March

2017 concerning Uses of the Services of Public Accountants and Public
Accounting Firms in Financial Service Activities (OJK Regulation 13),
stipulates that prior to providing services to parties that conduct financial
service activities, Public Accountants and Public Accounting Firms must
first be registered with the OJK.

2. Capacity Building Program for Public

Accountants in the banking sector

The role of Public Accounting Firms The enactment of OJK Regulation

and Public Accountants registered 13 is expected to be able to
with the OJK in ensuring the promote Public Accountants to
quality of information for the wide have competence and knowledge
stakeholders requires professional in the field of financial services
competence and independence. and industries that use Public
Public Accountants are required Accountants. To maintain
to always maintain, improve and improve competence and
and develop their professional knowledge, Public Accountants
competence through a continuous are required to take part in a
learning process. Development special Continuing Professional
of professional competence for Education for Public Accountants,
Public Accountants is expected organized by the institution
to take place along with the rapid recognized by the Otoritas Jasa
development of the financial Keuangan, namely the professional
services industry, particularly association of Public Accountants
banking. set by the Minister of Finance (in
this case, the Indonesian Institute
of Public Accountants), at least in
accordance with the number of
Continuing Professional Education
Credit Units that must be met every
year as set by the Otoritas Jasa
Keuangan.
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In 2020, a Special Continuing Professional Education (CPE) as

a colaboration between the OJK and IAPI (Indonesian Institute
of Certified Public Accountants) (Special OJK-IAPI CPE) was held
for Public Accountants in the Banking sector on 10-11 June 2020.
Given the condition at that time when the Large-Scale Regional
Restrictions (Pembatasan wilayah Berskala Besar/PSBB) was
still in force, activities of the Special OJK-IAPI CPE was held
through the Zoom Webinar which was attended by 244 Public
Accountants. Each participant received 8 SKP (Participation
Credit Units)

3. Public Accountants/Public Accounting Firms in

the Banking sector registered with the OJK

Based on the OJK’s records sector. As of December 2019,

for the Banking sector, as of there were 271 PAFs registered
December 2017 there were with the OJK, 225 of which had
221 Public Accounting Firms PAs registered in the Banking
(PAFs) registered with the sector. Meanwhile, for the
OJK, 176 of which had PAs position of December 2020,
registered in the Banking there were 285 PAFs registered
sector. As of December 2018, with the OJK, 257 of which had
there were 224 PAFs registered PAs registered in the banking
with the OJK, 192 of which had sector.
PAs registered in the banking

Tabel 3.7. Public Accountants Registered in the OJK Banking Sector.

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Total Public Accountants in the banking sector were

(PAs) with active status and 464 persons (Conventional
registered in the Banking Banking PAs) and 146 persons
sector as of December 2017 (Islamic Banking PAs). For the
position were 344 persons position of December 2020,
(Conventional Banking PAs) the active PAs in the banking
and 88 persons (Islamic sector comprised 495 persons
Banking PAs). In 2018, apart (Conventional Banking PAs)
from the registrations of and 162 (Sharia Banking PAs).
new PAs/PAFs there were In regards the financial
also re-registrations up to service institutions (clients)
27 March 2018 for PAs/PAFs in the Banking Sector that
registered with OJK prior to the should be audited by PAFs/
enactment of OJK Regulation PAs registered with the OJK,
13. As of December 2018 in 2020 there were 1568
position, the total active PAs Banks (86.8% of total banks),
in the banking sector were comprising all commercial
390 persons (Conventional banks and Conventional RBs/
Banking PAs) and 99 persons Sharia RBs with total assets
(Islamic Banking PAs). of Conventional RBs/Sharia
Meanwhile, at December 2019 RBs coming to more than IDR
position, the total PAs active 10 billion.

Public Accountants who wish to be registered with

the OJK can submit online registration applications
through the Integrated Licensing and Registration
System (Sistem Perizinan dan Registrasi Terintegrasi/
SPRINT) (http:\\sprint.ojk.go.id)
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4. Publication of PAs/PAFs Registered at OJK

OJK Regulation 13 stipulates that:

Article 2
(1) Parties Conducting Financial Service Activities are required
to use PAs and PAFs that are:
a. registered with the Otoritas Jasa Keuangan; and
b. have competencies that are in line with the business
complexities of the Parties Conducting Financial
Services Activities.
Article 3
(1) Prior to providing services to Parties Conducting Financial
Service Activities, PAs and PAFs must first be registered
with the Otoritas Jasa Keuangan

PAs/PAFs or Parties Conducting Financial Service Activities,

that want to know the list of PAs/PAFs registered with the
OJK, can visit the OJK website (menu Statistik > Data AP dan
KAP terdaftar di OJK) or via the link (https://www.ojk.go.id/id/
kanal/ perbankan/data-dan-statistik/database-AP-dan-KAP/
Default.aspx)
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G.
AMENDMENT OF
OJK-LPS MEMORANDUM
OF UNDERSTANDING

The Otoritas Jasa Keuangan (OJK) and the Lembaga Penjamin

Simpanan/LPS (Indonesia Deposit Insurance Corporation) have
agreed to amendment to the Memorandum of Understanding (MoU)
concerning Coordination and Cooperation in the Implementation of
the Functions and Tasks of OJK and LPS on August 12, 2020. The OJK-
LPS MoU amendment was signed by Chairman of the OJK’s Board of
Commissioners, Wimboh Santoso, and Chairman of the LPS’ Board
of Commissioners, Halim Alamsyah.

1. Background

The OJK-LPS MoU amendment That Endanger the National

was made to the 2019 OJK- Economy and/or Financial
LPS MoU as a follow-up to System Stability into Law,
the issuance of Act Number as well as Government
2 of 2020 concerning Regulation Number 33
Stipulation of Government of 2020 concerning the
Regulation in Lieu of Act Implementation of the
Number 1 of 2020 concerning Authority of the Lembaga
State Financial Policy and Penjamin Simpanan in the
Financial System Stability context of Implementing
for Handling the Corona Handling Measures
Virus Pandemic Disease concerning Problems in
2019 (COVID-19) and/or in Financial System Stability.
the context of Facing Threats
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2. Purpose

The amendment aims to facilitate and optimize cooperation

and coordination in carrying out the functions and tasks of
OJK and LPS.

3. Scope

The scope of the MoU of the OJK-IDIC, namely:

1. Implementation of deposit insurance and supervision at
Banks
2. Follow-up of results of supervision and analyses of Banks;
3. Handling of banks with the status of Bank Dalam
Pengawasan Intensif/BDPI (Bank Under Intensive
Supervision) and Bank Dalam Pengawasan Khusus/BDPK
(Bank Under Special Supervision);
4. Handling of banks other than Systemic Banks that cannot
be rehabilitated and Systemic Banks that have been
transferred by the Financial System Stability Committee
(Komite Stabilitas Sistem Keuangan/KSSK) to LPS;
5. Follow-up on the handling of banks which business
licenses have been revoked;
6. Handling of banks under the conditions of threats that
endanger the national economy and/or financial system
stability;
7. Establishment and termination of Intermediary Banks;
8. Handling of banks which are issuers or public companies
issuing debt securities; and
9. Implementation of other functions and tasks
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4. Renewal Of OJK-LPS MoU

1. Preparation of bank handling carried out by the LPS when

any bank is designated with the status of BDPI by the
OJK, which includes exchanges of the latest data and
information, examinations, and other activities in the
context of preparing resolutions by the LPS.

2. Coordination in the context of implementing the LPS’

authority in placing funds in a bank as referred to in the
Republic of Indonesia’s Government Regulation Number
33 of 2020 concerning the Implementation of the Authority
of the Lembaga Penjamin. Simpanan in the context of
Carrying Out Measures for Handling Financial System
Stability Problems.

3. OJK’s support to LPS in the implementation of the banking

restructuring program which covers the allocation of
resources, including human resources and information
technology.
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H.
OJK SUPPORT IN
NER PROGRAM

Since the early stage of the progressing impact of the

pandemic, the OJK has been carrying out various synergy
policies with the Government and Bank Indonesia in order to
maintain stability in the real sector and the financial services
sector so as to accelerate economic recovery efforts. Various
policies that have been carried out as an effort to support the
National Economic Recovery (NER) program include:

1. Exchanges of data and information on bank debtors for the

provision of interest subsidies.
2. Coordination on the formulation of the implementation of
bank credit guarantees.
3. Coordination and supervision of the implementation of
Government Fund Placements in the context of NER at
various banks.
4. Coordination and promotion of the implementation of the
extensions of pandemic special KUR (rural credit) and KUR
restructuring.

As a form of OJK’s supports for the NER program, the OJK has
coordinated with the Ministry of Finance as stated in the
Joint Decree of the OJK and the Ministry of Finance on May
28, 2020 which aims to facilitate coordination between the
Ministry of Finance and the OJK and to optimize the provision
of information from the OJK in the context of Fund Placements
and the provision of interest subsidies as the implementation
of the NER Program.
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In this regard, in quarter IV of 2020, several coordinations have

been carried out between the OJK and the Ministry of Finance,
namely:

1. Exchanges of data for the purpose of Government fund

placements, Guarantees, and Interest Subsidies related to
the NER Program, among others, concerning SLIK debtor
data and SLIK mortgage data;
2. Discussions on the evaluation of the funds of the NER
Program at Commercial Banks; and
3. Discussions on Debtor Data for the purpose of Interest
Subsidy.

In addition, in order to support the Assistance for Pelaku Usaha

Mikro/PUM (Micro Business Actors) program, the OJK has
also coordinated with the Ministry of Cooperatives and SMEs
(Kemenkop UKM) by providing support on MSME debtor data
in Banking sector originating from the SLIK as the basis for
verification of Assistance for PUM (BPUM) channelling. Assistance
for PUM distribution is targeted at 12 million Micro Business
Actors by the end of 2020.

Assistance for PUM aims to having a NIK (population core

support micro-enterprises to number); owning a micro-
be able to survive and continue enterprise; and is not ASN
to run their businesses amidst (state civil apparatus)/TNI/
the uncertainty due to the (Indonesian military)/POLRI
COVID-19 pandemic. In line (Indonsian Police)/BUMN/
with the criteria set out in BUMD personnel. The asistance
Ministry of Cooperatives and funds are distributed directly
SMEs’ Regulation Number 6 of to each beneficiary’s account
2020 concerning Assistance for through the channeling banks.
PUM dated August 12, 2020, the As of December 10, 2020,
Assistance for PUM program is Assistance for PUM that has
intended for micro-enterprises been channeled came to IDR
which are not currently receiving 28.8 trillion or 100% of the funds
credit or financing from banks that have been budgeted and
with the following requirements: distributed to 12 million Micro
being Indonesian citizen; Business Actors.
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I.
INTERNATIONAL
ASSESSMENTS
1. RCAP of Net Stable Funding Ratio (NSFR)
dan Large Exposures (LEX)

At the meeting on 27 February 2020 in Basel, Switzerland,

the BCBS has determined the results of the RCAP (Regulatory
Consistency Assessment Programme) assessment with
a Compliant (C) score for the Net Stable Funding Ratio
(NSFR) and Large Exposures (LEx) frameworks.

This achievement was published by defending the argument that bank

the BCBS on March 19, 2020 on the credit extensions using the nucleus-
BCBS website (https://www.bis.org/ plasma partnership pattern with
bcbs/publ/d494.htm and https:// the scheme where a core company
www.bis.org/ bcbs/publ/d497.htm). guarantees credits extended to the
The Compliant score is the highest plasma can be exempted from the
score that can be awarded to classification of the borrower group.
any country undergoing RCAP This exemption is important for the
and indicates that Indonesia’s national economy because it can
NSFR and LEx regulations are facilitate farmers’ access to sources
already in accordance with of financing.
international banking standards.
This achievement also proves that This achievement brings Indonesia to
Indonesia is able to implement be at par with other BCBS members,
international banking standards such as Australia and the People’s
while yet paying attention to best fit Republic of China, and is expected
standards for the national interest. to raise public confidence in the
In respect of the LEx framework, banking operations in Indonesia.
Indonesia has succeeded in
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J.
HIGHLIGHT OF THE INVESTMENT
ALERT TASK FORCE
PERFORMANCE

Figure 3.3. Highlights of Investment Alert Task Force’s Performance.

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K.
IMPLEMENTATION OF
INVESTIGATION TASKS

Article 9 of Act Number 21 of 2011 concerning the Otoritas Jasa Keuangan (OJK
Act) states that one of the authorities of the Otoritas Jasa Keuangan is to conduct
investigations on Financial Service Institutions.
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Details of P-21 Year 2020

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L.
INTEGRATED
SUPERVISION

1.
IMPLEMENTATION OF ARTICLE 5 OF ACT
NUMBER 21 OF 2011 CONCERNING OJK
(FINANCIAL SERVICES AUTHORITY)

OJK has the function of implementing an integrated regulatory

and supervisory system for all activities in the financial
services sector. Activities that have been carried out by the OJK
in the execution of the integrated supervisory tasks in 2020
included eight Integrated Supervision Committee Meetings,
led by 3 (three) members of the OJK’s Board of Commissioners
in charge of the supervision of Financial Services Institutions
in the Banking sector, Capital Market sector, and Non-Bank
Financial Institution sector. The Integrated Supervision
Committee Meetings discuss strategic issues related to
integrated supervision, especially for Financial Conglomerates
as well as other cross cutting issues. This is due to the
significant role and influence of Financial Conglomerates
on the national economy. In addition, coordination between
cross-sector supervisors is getting more solid through intense
exchanges of information, which enables supervisory actions
to be carried out immediately.
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The implementations of which are undertaken through:

a. Integration of the regulation of all FSIs from the Banking,

Capital Market, and NBFI sectors.
OJK has made, is making, and will continue to make efforts
to integrate financial services sector’s regulations that are
cross-cutting. The integrated regulation, is the regulation
that applies to at least two financial sectors and sectoral
regulation that have significant impacts on other financial
sectors. All this time, each type of financial service sectors
has its own regulations. Some examples of regulations
that have been integrated are OJK Regulation number
27/POJK.03/2016 concerning Fit and Proper Test For Main
Parties In Financial Service Institutions and OJK Regulation
number 13/POJK.03/2017 concerning Use of the Services
of Public Accountants and Public Accounting Firms in
Financial Service Activities.

b. Integration of the licensing entire financial services sector

through one door.
OJK is currently making effort to integrate licensing,
namely the licensing services through one door supported
by an information system. One of the systems that have
been developed by OJK to support integrated licensing is
the Sistem Perizinan dan Registrasi Terintegrasi (SPRINT).
Currently, several types of licensing managed using SPRINT
are Bancassurance, Agen Penjual Efek Reksa Dana/ Mutual
Fund Security Sales Agent (APERD), Registration of Public
Accountants and Public Accounting Firms, and Sharia
Bonds.
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c. Integration of the supervision of all FSI

Integrated supervision by OJK has started with the
implementation of the supervisions of several FSIs that are
incorporated into conglomerates. In this regard, OJK has
issued three regulations related to integrated supervision
of Financial Conglomerates, namely:
1) OJK Regulation no. 17/ POJK.03/2014 concerning
Implementation of Integrated Risk Management For
Financial Conglomerates;
2) OJK Regulation no. 18/ POJK.03/2014 concerning
Implementation of Integrated Management for Financial
Conglomerates
3) OJK Regulation no. 26/ POJK.03/2015 concerning
Integrated Minimum Capital Adequacy Requirement for
Financial Conglomerates

2.
FINANCIAL CONGLOMERATES (FC)

In 2020, the OJK issued Otoritas Jasa Keuangan Regulation

Number 45/POJK.03/2020 concerning Financial
Conglomerates. This OJK Regulation aims to create a financial
services industry that is sound and has high competitiveness.
As such, measures are necessary to arrange the structure of
Financial Conglomerates, among others through the setting
of criteria for Financial Conglomerates, which were previously
regulated in OJK regulations concerning the implementation
of integrated risk management for financial conglomerates,
the implementation of integrated governance for financial
conglomerates, and the integrated minimum capital
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Graphic 3.1. Development of Assets of Financial

Conglomerates and Financial Services Sector.

requirements for financial conglomerates. The issuance of

this OJK Regulation was also based on input from the IMF
and the World Bank Technical Assistance which recommends
that the OJK needs to review the current definition of Financial
Conglomerates by taking into account the materiality aspect of
the Financial Conglomerates and the imposition of thresholds
based on certain criteria. This OJK Regulation regulates the
criteria and scope of the Financial Conglomerates and the
Corporate Charters in order to maintain the financial system
stability.

Source: OJK

Table 3.8. Development of Assets of Financial Conglomerates and

Financial Services Sector.
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3. COUNTRY PEER REVIEW BY FINANCIAL STABILITY

BOARD (FSB) REGARDING OVER THE COUNTER
(OTC) DERIVATIVE REFORMS.

In 2020, the Financial Stability Board (FSB) has carried out

Country Peer Review (CPR) related to the OTC Derivative Reform
in Indonesia. This CPR aims to monitor the commitment of any
member of the FSB to the implementation and effectiveness
of regulations and supervision in the financial sector. The
review was carried out on the measures that have been taken
by Indonesia regarding the recommendations of the Financial
Sector Assessment Program (FSAP). In early 2020, the OJK
together with Bank Indonesia, the Ministry of Finance, and
the Commodity Futures Trading Supervisory Agency have
passed the preparation stage, comprising the completion of
a questionnaire related to OTC Derivative Reform from the
FSB. Next, in Quarter III 2020, a virtual on-site assessment
stage was carried out in the form of direct dialogues between
the FSB assessor team and all authorities in the context of
clarifications and requests for further information on the
questionnaire that had previously been completed by the
Indonesian authorities.

As a follow-up to the implementation of the OTC Derivative

Reform, the OJK has published the CP (Consultation Paper)
on Margin Requirement for Non-Centrally Cleared Derivatives
(NCCD) on August 24, 2020. This CP contains the principles
for implementing margin requirement for NCCD in Indonesia,
which include, among other things, the stipulation concerning
entities to be subject to margins, margin calculation method,
collateral requirement, and phase in period of the application
of margin requirements. Then on October 9, 2020, the OJK has
also issued a CP on Capital Provision for Bank Exposure from
Central Counterparties (CCP) which contains principles that
govern exposure from CCP as well as capital requirements that
must be met by Banks.
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The results of the FSB’s CPR show an overview of the structure

of the OTC derivatives market in Indonesia, the progress of the
steps that have been taken by Indonesia in reforming the OTC
derivatives market as agreed in the G20 in 2009. In general,
there is quite good progress for the reform of OTC Derivatives in
Indonesia. The 3 recommendations conveyed by the assessor
team for Indonesia are as follows:

a. Continue to develop trade reporting, use, and transparency

of OTC derivative data
b. Resolve legal uncertainties related to netting law
c. Implement other OTC derivative reforms in the appropriate
order:
1) Central clearing of standardized OTC derivatives,
2) Margin requirements for Non-Centrally Cleared
Derivatives (NCCDs),
3) fulfillment of capital for bank exposure from Central
Clearing Counterparties (CCPs)
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CHAPTER 4

OJK’s
Regulations
in Banking Field
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" In line with the Republic of Indonesia’s Act

number 21 of 2011 concerning the Otoritas Jasa
Keuangan, the Otoritas Jasa Keuangan (OJK) has
the authority to regulate or stipulate provisions
on the aspects of business and activities of the
banking industry. This authority is implemented
in the forms of OJK’s Regulations and OJK’s
Circular Letters (OJK CL).
"
Online Banking Provision Information
System (SIKePO)

It is a application for banking Before SIKePO was developed,

provisions that are arranged in a the search for various banking
systematic and comprehensive provisions required by users
manner based on certain topics. could not be done easily and
SIKePO functions as a digital quickly because that the
library of banking provisions provisions were relatively
that provide comprehensive, up- scattered and had not been
to-date, systematic, accurate, grouped according to certain
fast, and easy to use database. topics.
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With the presence of SIKePO, users are expected to be able to:

1. Find banking provisions in an effective and efficient manner;
2. Understand the banking provisions comprehensively; and
3. Know the track record data of the effectiveness of any provision.

SIKePO can be accessed by anyone

using the internet network. Users
can easily access SIKePO through
the browser by clicking https://
SIKePO.ojk.go.id or by scanning the
QR code on the side.
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The features available in SIKePO include:

1. Codification of provisions. It 2. Search for provision. This

is a terminology concerning feature lists the available
the classification of each provisions. Provisions can
article of any provision be searched through the
based on certain topic and search engines based on
sub-topics. The codification the provision type, number
feature in SIKePO can be or title, year of issue, and
accessed and viewed by classification. Provision
users through the available can be downloaded in
drop-down menus and also full. In addition, this
through a simple search. This feature is also includes an
page also contains a track executive summary and
record of the effectiveness frequently asked questions
of the provisions and other concerning each provision.
interrelated provision.

Figure 4.1.
Information of SIKePO.
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In order to enhance services in sides (public/stakeholders),

the provision of information in accessing the SIKePO
to stakeholders, the OJK has application, and as such it
launched an information will support the effort to step
system for searching for up the utilization of the SIKePO
banking provisions (sistem application in the context of
informasi pencarian ketentuan seeking banking provisions. The
perbankan/SIKePO) in the SIKePO mobile application can
form of a mobile application. be downloaded via the mobile
Development of the SIKePO devices in Google Playstore and
mobile application constitutes App Store – Apple.
an effort by the OJK to provide
services to stakeholders, both Services developed in the
from the industries as well as SIKePO mobile application are
the public, in the provision also expected to support the
of information on banking implementation of the functions
provisions. With SIKePO, it is and tasks of the OJK, as well
easier for users to search for as be part of the recycling of
provisions concerning any topic the OJK to the banking industry
comprehensively. It helps the and the public, especially in
users to find out the track record the implementation of the
of any provision and provides functions and tasks of preparing
a facility for the users for banking provisions. In addition,
searching banking provisions in it aims to disseminate, educate
an easy (user-friendly) manner. and enhance understanding
(internalization) concerning
The mobile application facility applicable banking provisions
is expected provide ease and of the banking industry in
speed for users, from both particular and the public in
OJK’s internal and external general.
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Figure 4.2. Menu of SIKePO Application.

Use the QR Code scanner feature

on the next content.
The QR Code scanner will display
softcopies of the OJK Regulations
on your smartphone screen. You
can also open the OJK Regulations
from sikepo.ojk.go.id.
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A.
BANKING REGULATIONS
ISSUED IN 2020

Throughout 2020, the OJK has issued 11 OJK Regulations and 5 OJK Circular
Letters in the banking sector, as follows:

Table 4.1. Lists of OJK’s Regulations and Circular Letters issued during 2020.
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Table 4.1. List of OJK Regulations issued during 2020.

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B.
SUMMARY OF OJK REGULATIONS
IN BANKING FIELD ISSUED FROM
2019 UP TO JUNE 2020

Throughout 2020, OJK has issued 11 OJK Regulations and 5 SEOJK in the banking
field as follows:

1. National Economy Stimulus as Countercyclical

Policy on the Impact of the 2019 Coronavirus Disease
Spreading (OJK Regulation number 11/POJK.03/2020)

The spreading of the 2019 coronavirus disease (COVID-19) has direct as well
as indirect impacts on the performance and capacity of debtors including
micro, small and medium business (MSME) debtors that have the potential
to disrupt banking performance and financial system stability, which in
turn can affect economic growth. Therefore, to promote optimization of
the banking intermediation function, maintain financial system stability,
and support economic growth, an economic stimulus policy is needed as a
countercyclical policy against the impacts on the spreading of the COVID-19.

Main Provisions
a. This OJK Regulation applies to CCBs, SCBs, SBUs, RBs, and SRFBs.

b. Banks can implement policies that support economic growth stimuli for
debtors affected by the spreading of COVID-19, including MSME debtors,
while still paying attention to the prudential principle.
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c. Debtors affected by the spreading of COVID-19, including

MSME debtors, are debtors which have difficulty meeting
obligations to the Banks because the debtors or debtors’
businesses are affected by the spreading of COVID-19, either
directly or indirectly in the economic sectors, including
tourism, transportation, hotel, trades, manufacturing,
agriculture, and mining industries.

d. The stimulus policy referred to consists of:

1) Assessment of the quality of credit/financing/other
provisions of funds shall only be based on the accuracy
of their principal and/or interest payments with a ceiling
of up to IDR 10 billion; and
2) Improvement of the quality credit/financing to become
current after restructuring during the validity period of this
OJK Regulation. This provision concerning restructuring
can be applied by Banks regardless of credit/financing
ceiling limits or the types of debtors.

e. The procedures for restructuring of credit/financing are as

stipulated in the OJK regulation concerning assessment of
asset quality, among others through:
1. lower interest rates;
2. extension of maturity period;
3. reduction of principal arrears;
4. reduction of interest arrears;
5. addition to credit/financing facilities; and/or
6. conversion of credit/financing into Temporary Equity
Participation.

f. Banks can provide new credit/financing/provisions of

funds to debtors which have received special treatments
in accordance with this OJK Regulation with determination
of the quality of credit/financing/other provisions of funds
applied separately from the quality of previous credit/
financing/other provisions of funds.
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g. Banks shall submit periodic reports concerning the implementation of

this OJK Regulation for the purpose of monitoring by the Supervisors
starting with data position of the end of April 2020.

h. This regulation comes into force from the time of promulgation up to

31 March 2021.

2. Consolidations of Commercial Banks (OJK Regulation

number 12/POJK.03/2020)
Consolidations of Commercial Banks constitute an effort to strengthen
the structure, resilience and competitiveness of the banking industry so
as to support national economic stability and growth, as well as an effort to
boost the banking industry to reach a more efficient level towards higher
economies of scale, so that banks are not only resilient in the domestic
sphere, but is also competitive at regional and global levels.

Main Provisions
a. Commercial Bank Consolidation
A bank’s Controlling Shareholder (CS) can own 1 (one) bank or several
banks by meeting the bank consolidation scheme, through:
1. Merger, consolidation, or integration;
2. Acquisition followed by merger, consolidation, or integration;
3. Establishment of a Bank Business Group (BBG) for banks that are
already owned;
4. Establishment of a BBG due to separation of SBUs; or
5. Establishment of a BBG due to an acquisition.

b. Fulfillment of the minimum core capital for commercial banks and

minimum CEMA (Capital Equivalency Maintained Assets) for branch
offices of banks domiciling abroad.
Minimum core capital and minimum CEMA that must be met is no less
than Rp.3,000,000,000,000.00 (three trillion rupiah) no later than 31
December 2022.
Page Indonesia Banking
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c. Establishment of BBG.

d. Fulfillment of Minimum Core Capital for banks in a

consolidation scheme and for banks owned by local
governments.

e. Other stipulations include:

1) Parties that are exempted from the provisions stipulated
in the OJK Regulation concerning share ownership of
commercial banks,

2) Banks that meet the bank consolidation scheme by

being within a BBG can carry out the same business
activities as the business activities of the bank that is
the Parent Company or the bank that is an operator of the
Parent Company, with the approval of the OJK

3) Stipulation concerning the limits on capital participations

of regional government-owned banks in a SCB resulting
from the Separation of SBUs is exempted from the
provision concerning limits on capital participations as
stipulated in the OJK Regulation concerning business
activities and office networks based on bank core capital.
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3. Application of Risk Management in the Use of

Information Technology (RMIT) by Commercial Banks
(OJK Regulation number 13/POJK.03/2020)

This OJK regulation was issued in order to support the use of integrated
Electronic Systems so that banks can improve operational effectiveness
and efficiency as well as provide better banking services to customers.

Main Provisions
a. Deletion of restrictions on the use of data in electronic systems located
outside the territory of Indonesia.

b. Addition of 1 (one) electronic system criteria that can be located outside

the territory of Indonesia, namely electronic systems for services to
global customers.

c. OJK’s authority to request Banks to locate the electronic systems in the

territory of Indonesia.

d. Banks’ obligation to continue implementing the action plans that have

been submitted to the OJK is in accordance with the OJK Regulation on
RMIT.

e. Banks’ obligation to ensure that data used in electronic systems

located outside the territory of Indonesia is not used for purposes other
than the stipulated criteria. Violations of this obligation is subject to
administrative sanctions.

f. Revocation of Bank Indonesia Circular Letter Number 9 /30/DPNP dated

12 December 2007 concerning Application of Risk Management in the
Use of Information Technology by Commercial Banks.
Page Indonesia Banking
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4. Written Instructions for Handling of Bank

Problems (OJK Regulation number 18/
POJK.03/2020)

Article 23 paragraph (2) of Government Regulation in Lieu of

Law Number 1 of 2020 concerning Policies concerning State
Finance and Financial System Stability for Handling 2019
Corona Virus Disease (COVID-19) Pandemic andor in the
Context of Facing Threats that Endanger the National Economy
and/or Financial System Stability gives the authority to the
OJK to issue Written Instructions to Banks for undertaking
mergers, consolidations, acquisitions, and/or integrations, or
for accepting mergers, consolidations, acquisitions, and/or
integrations, with the aim of:

a. maintaining financial system stability in the midst of the

2019 Corona Virus Disease (COVID-19) pandemic; and/or
b. facing the threats of an economic and/or financial system
stability crisis.

Main Provisions
a. The scope of the stipulation applies to Banks, namely
conventional commercial banks (CCBs), sharia commercial
banks (SCBs), rural banks (RBs), sharia rural financing
banks (SRFBs), and branch offices of banks domiciling
abroad.
 OJK’s Regulations Page
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b. OJK’s authority to give written instructions to banks to:

1. undertake mergers, consolidations, acquisitions and/or
integrations; and/or
2. accept mergers, consolidations, acquisitions and/or
integrations.

c. Written orders are issued to Banks that meet the criteria

based on OJK’s assessments.

d. Any Bank that is given a written instruction is oblige to

prepare an action plan, as well as implement and maintain
the smooth process of the merger, consolidation, acquisition
and/or integration in accordance with the action plan.

e. In the execution of a Written Instruction by a Bank to

conduct or accept a merger, consolidation, acquisition and/
or integration:
1) There are several adjustments to the process of merger,
consolidation, acquisition, and/or integration.

2) Based on OJK’s approval, a CCB or SCB may be exempted

from the provisions concerning sole ownership in
Indonesian banks, share ownership of commercial
banks, and/or deadline for fulfillment of minimum core
capital.

3) In regard any RB or SRFB, the office network can still be

maintained in accordance with the regions of the RB or
SRFB existing office networks.
Page Indonesia Banking
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5. Policies for Rural Banks and Sharia Rural

Financing Banks as an Impact of the
Spreading of 2019 Coronavirus Disease ( OJK
Regulation number 34/POJK.03/2020)

The spreading of the COVID-19 in the territory of Indonesia

has a significant impact on the performances of RBs and
SRFBs where increases in the potential for credit risk and
weakening of cash inflows can disrupt the performances
of RBs and SRFBs as well as can affect the growth of the RB
and SRFB industry. Therefore, to promote optimization of the
performance of the RB and SRFB industry, it is necessary to
adopt a policy regarding the provisions applicable to RBs and
SRFBs in response to the impact of the spreading of COVID-19
while still observing the prudential principle.

Main Provisions
a. RBs and SRFBs can implement policies on the provisions
applicable to RBs and SRFBs in response to the impact of
the spreading of COVID-19. These policies concern:
1) General Provision for Earning Asset Losses for earning
assets with current quality can be established at 0%
(zero percent) or less than 0.5% (zero point five percent)
of earning assets with current quality as stipulated in
OJK Regulation concerning Earning Asset Quality and
Establishment of Provision for Earning Asset Losses for
Rural Banks;
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2) The percentage of the value of Taken-Over Collaterals as

a reduction factor of core capital in the calculation of
Minimum Capital Requirement for RBs and SRFBs at the
reporting position for March 2020;
3) Provision of funds in the form of interbank fund
placements at another RB or SRFB to overcome liquidity
problems at the other RB or SRFB is exempted from
the provision concerning the Legal Lending Limit or the
Maximum Limit for Funds Channeling. Interbank fund
placements may be made to all RBs which are related as
well as unrelated parties at a maximum of 30% (thirty
percent) of the capital of the RB and SRFB; and/or
4) Provision of funds for education and training for human
resource development in 2020 can be allocated at less
than 5% (five percent) of the realized HR costs in the
previous year

b. RBs and SRFBs shall perform documentation and

administration of each applied policy.

c. For any RB and SRFB that implements a policy concerning

provision of funds in the form of fund placements by the
bank at another RB or SRFB to deal with liquidity problems at
the other RB or SRFB, the RB and SRFB shall submit reports
on the provision of funds in the form of fund placements
between banks to resolve liquidity problems no later than
the 10th (ten) of the following month after the provision of
funds.
Page Indonesia Banking
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d. Implementations of the policies for RBs and SRFBs related

to Provision for Earning Asset Losses and Taken-Over Assets
are retroactive as of 1 April 2020.

e. This provision is in force from the time of promulgation

until 31 March 2021.

6. Financial Conglomerates (OJK Regulation

Number 45/POJK.03/2020)

The mandate of Article 5 of Financial Conglomerates,

of Act Number 21 of 2011 by taking into account
concerning the Otoritas the materiality aspect of
Jasa Keuangan states that Financial Conglomerates and
the OJK has the function the application of thresholds
to organize an integrated based on certain criteria. In
regulatory and supervisory addition, the current number
system for all activities in the of financial conglomerates
Financial Services Sector. This is already quite large with a
regulation is in response of the high disparity between them,
input from the IMF and World which results in less effective
Bank Technical Assistance, and efficient implementation
which recomends that the OJK of supervision.
review the current definition
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Main Stipulations
a. Additional criteria concerning groups categorized as
Financial Conglomerates, namely FSIs that are in one group
due to ownership and/or control linkages that have the
following criteria:
1) The total assets of the group are greater than or equal to
Rp. 100 Trillion; and
2) Having business activities in more than 1 (one) type
of FSI.

b. The OJK has the authority to designate any group of FSIs as

a Financial Conglomerate outside of the criteria mentioned
above.

c. Types of FSIs that may be included in Financial

Conglomerates are:
1) Banks;
2) Insurance companies and reinsurance companies;
3) Financing companies; and/or
4) Securities company

d. The Main Entity of any Financial Conglomerate is required to

formulate and have a corporate charter which is signed by
the board of directors of the main entity and the boards of
directors of FSI members of the Financial Conglomerate. The
content and scope of the corporate charter shall be aligned
to the characteristics and complexity of the businesses of
the Financial Conglomerate
Page Indonesia Banking
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7. Amendment to Otoritas Jasa Keuangan Regulation

Number 11/POJK.03/2020 concerning National
Economic Stimulus as a Countercyclical Policy
against the Impacts of the Spread of Coronavirus
Disease 2019 (OJK Regulation number 48/
POJK.03/2020)
As a quick response to the impacts of the spread of the Coronavirus
Disease (COVID-19), in March 2020, the OJK has issued OJK
Regulation Number 11/POJK.03/2020 concerning National Economic
Stimulus as a Countercyclical Policy against the Impacts of the
Spread of Coronavirus Disease 2019 (OJK Regulation on Stimulus
against COVID-19) that was valid until March 31, 2021.

Observing that the spread of OJK Regulation is issued as

COVID-19 is still continuing an anticipatory and follow-up
globally and domestically and measure to boost optimization
is projected to have an impact of banking performance,
on debtor performance and maintain financial system
capacity as well as to raise stability, and support economic
bank credit risk, it is necessary growth while yet applying the
to adopt an economic stimulus prudential principles and
policy as a countercyclical avoiding moral hazard.
policy against the impacts of
the spread of COVID-19. This
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Main Stipulations
a. Stipulations in the OJK Regulation on Stimulus against
COVID-19 that constitute a relaxation policy for debtors
affected by COVID-19 are still in force, which include:
1) assessment of credit/financing quality is only based
on the accuracy of principal and/or interest payments
for credit/financing of up to Rp10 billion;
2) determination of credit/financing quality to be Current
shall be made after being restructured; and
3) a separate determination of quality in the cases of new
credits/financing.

b. Additional stipulations in this OJK Regulation include:

1) Implementation of risk management and prudential
principles for banks in implementing this policies; as
well as
2) Policies related to bank capital and liquidity.

c. This OJK Regulation is valid until March 31, 2022

Page Indonesia Banking
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183

8. Requirements and Procedure for Separation of

Sharia Business Units/SBUs (OJK Regulation
number 59/POJK.03/2020)
The background for the development of this OJK Regulation
is harmonization with other provisions in order to strengthen
the SCBs resulting from the separation of SBUs, to support
banking consolidation, and as a guideline for any CCB that
intend to undertake the separation of any SBU.

Main Stipulations
a. Separation a SBU can be undertaken by:
1) Establishing a new SCB; or
2) Transferring the rights and obligations of the SBU to
an existing SCB.

b. The separation of a SBU by establishing a new SCB can be

carried out by 1 (one) or more CCBs that own SBUs.

c. The establishment of a SCB originating from a separation

must obtain an OJK’s permit with a paid-up capital of no
less than Rp. 1 trillion (for members of a Bank Business
Group) or Rp. 3 trillion (for other than members of a Bank
Business Group), in cash.

d. The requirements for the SCB resulting from a separation

include:
1) Fulfillment of the minimum capital adequacy
requirement as stated in the OJK Regulation concerning
the minimum capital adequacy requirement for SCBs;
and
2) The ratio of gross non-performing financing (NPF) is no
more than 5% (five percent)

e. Settlement of the excesses of the legal lending limit due to

the separation of a SBU should be completed no later than
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18 (eighteen) months. The SCB resulting from the separation

or the SCB receiving result of the separation may apply for
an extension of the settlement period for the excesses of the
legal lending limit if based on its assessment completion of
the settlement will exceed the 18 (eighteen) month period.

f. Any CCB which makes capital participation due to the

separation of a SBU is exempted from the soundness
level requirement for banks that plan to make capital
participations in accordance with the OJK Regulation
concerning the prudential principles in capital participation
activities.

g. Any CCB which owns a SBU may apply for approval to

implement banking synergy with the SCB resulting from
the separation simultaneously with the application for
establishment of the SCB resulting from the separation or
request for approval for the separation of the SBU.

h. Any separation by transferring the rights and obligations

of a SBU can be made to another CCB on the condition that
the other CCB must change its business activities to SCB
business activities.

9. Rural Banks (OJK Regulation number 62/

POJK.03/2020)

This OJK Regulation was issued as an enhancement of OJK

Regulation Number 20/POJK.03/2014 concerning Rural Banks
in order to support the banking industry consolidation program
through more selective establishments of RBs, realization of a
more effective and efficient RB licensing process in supporting
the development of RB institutions, as well as realization of
more organized and stronger institutional development of RBs.
Page Indonesia Banking
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Main Provisions
a. There are 6 main arrangements on the institutional aspect
that are refined in this OJK Regulation:
1) Establishment of RBs
The establishment of a new RB can originate from 3
(three) conditions, namely:
a) an application by a Candidate CS (Controlling
Shareholder);
b) a change of business license from a Conventional
Commercial Bank to a RB; or
c) a change of business license from a microfinance
institution to a RB.
2) Licensing for the establishments of RBs
a) Amendment of the time periods for the granting
of a Principle Approval to be 30 working days and for
the granting of a Business License to be 20
working days.
b) Amendment of the placement of paid-up capital by
the candidate CS to be in full amount or 100% at the
time of submitting the request for Principle Approval.
c) Addition in the assessment of financial performance
and fulfilment of stipulations to also be applicable
on other FSIs owned by the candidate CS.
d) Redefinition of the stipulation related to any RB that
does not carry out business activities within 40
working days after obtaining a business license.
3) Ownership and changes to capital
a) Additional stipulation related to the fulfillment of
the requirements for any RB owner that is
a legal entity.
b) Amendment to the criteria for any change in share
ownership that must obtain the OJK’s approval to be
any change in share ownership that will result in a
change in CS.
4) Board of Directors, Board of Commissioners and
Executive Officers
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a) Additional prohibition concerning the holding of

concurrent positions by any member of the RB’s
Board of Commissioners as a Director or an Executive
Officer at other FSIs.
b) Amendment to the requirement for reporting any
appointment and/or matters related to any change
in the position of any member of the Board of
Directors and/or any member of the Board of
Commissioners, as well as the appointment,
replacement, or dismissal of any Executive Officer to
be made online through the OJK’s reporting system.
c) Affirmation that the seeking of clarifications in the
framework of the Fit and Proper Test (new entry) can
be conducted through Information Technology
facilities such as video conferences.
5) Office Network
a) Simplification concerning the requirements and the
licensing for the opening of any Branch Office from 2
stages to only 1 stage licensing process.
b) Amendment of the boundary of the RB office
network area to be one province for any RB
categorized in the BPRKU 1 and BPRKU 2 business
groups, as well as to include districts/municipalities
in other provinces that are directly adjacent to the
province of the RB head office for any RB categoried
in the BPRKU 3 business group.
c) Amendment to the requirements for opening a
Branch Office and removal of the limit on the number
of Branch Offices that can be opened by an RB,
to be based on assessments of the financial
condition, soundness level, capital, and/or business
needs of the RB.
d) Additional stipulation regarding any change in
the status of the office network, including any
upgrade or lowering of the status of the RB office
network.
Page Indonesia Banking
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e) Amendents to the mechanisms for opening a Cash

Office, expanding the area of the parent office that
oversees a Cash Office, and affirmation of the
functions/services that can be carried out by a Cash
Office.
6) Revocation of the Business License at the request of the
Shareholders
a) Additional criteria concerning RBs that cannot apply
for Self Liquidation.
b) Additional stipulation concerning the application
documents for Self Liquidation Preparation Approval.
c) Amendment to the settlement period for the
obligations of any RB that has obtained a Self
Liquidation approval to a maximum of 6 months.
d) Additional stipulation regarding the authority to
cancel the Self Liquidation approval.

b. This OJK Regulation revokes several provisions, namely:

1) OJK Regulation Number 20/POJK.03/2014 concerning
Rural Banks;
2) OJK Circular Letter Number 16/SEOJK.03/2015 concerning
Rural Banks;
3) provisions regarding RB office network areas as referred
to in Chapter III Article 11 to Article 19 of OJK Regulation
Number 12/POJK.03/2016 concerning Business Activities
and Office Network Areas for Rural Banks Based on Core
Capital;
4) BI Regulation Number 10/9/PBI/2008 concerning
Change in Commercial Bank Business License to Rural
Bank Business License in the framework of
Consolidation; and
5) BI Circular Letter Number 12/36/DPNP concerning
Mandatory Change in Commercial Bank Business
License to Rural Bank Business License in the framework
of Consolidation
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10. Commercial Bank Reporting Through Otoritas

Jasa Keuangan’s Reporting System (OJK
Regulation number 63/POJK.03/2020)
This OJK Regulation was issued to support technology-based
supervision through digitalization of reports to the OJK
starting March 1, 2021 and as part of the integration program
of the reporting to the OJK, BI, and LPS.

Main Stipulations
a. Banks are required to compile and submit reports online
through the OJK’s reporting system.

b. The reports comprise:

1) Form-based structured reports that are submitted to
the Otoritas Jasa Keuangan through APOLO (OJK
reporting system)
2) Electronic-based unstructured reports (pdf files or other
forms that can be further processed) that are submitted
to the OJK’s e-mail address, namely the Sistem
Pengelolaan Naskah Dinas dan Arsip/SIPENA (Official
Documents and Archives Management System).

c. The reports are divided into 4 (four) groups of information,

namely finance, risk and capital, products and activities, as
well as main data.

d. The structured report data consists of the positions of

daily, weekly, monthly, quarterly, semi-annual and annual.
Submission of each data position is divided into several
submission periods and deadlines.

e. Issuance of this OJK Regulation revokes OJK Regulation

Number 12/POJK.03/2019 concerning Commercial Bank
Reporting Through the Otoritas Jasa Keuangan’s Reporting
System
Page Indonesia Banking
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11. Amendment to the Otoritas Jasa Keuangan

Regulation Number 18/POJK.03/2017
concerning Debtor Information Reporting and
Requests Through the Financial Information
Service System (OJK Regulation number 64/
POJK.03/2020)

Enhancement to OJK Regulation Number 18/POJK.03/2017

aims to provide a legal basis for accommodating additional
financial service institutions from the Capital Market, namely
Securities Companies that carry out business activities
as securities brokers and Securities Funding Institutions
to become SLIK reporting entities. In order to step up the
effectiveness of SLIK implementation as well as to mitigate
misuses of debtor information, it is necessary to regulate the
submissions and uses of debtor information.

Main Stipulations
a. Reciprocity between reporting and use of debtor information
1) Any SLIK reporter can only access debtor information
data of a maximum of 100% of the number of debtors
reported in the previous 2 (two) months’ positions.
2) Any SLIK reporter may submit a request for additional
debtor information by submitting an application to
the OJK.

b. Addition of SLIK reporters (securities brokers and Securities

Funding Institutions).

c. Submission and use of debtor information.

 OJK’s Regulations Page
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d. Prohibition for LSIK reporters to trade SLIK data.

e. The obligation of each SLIK reporter to conduct an internal

audit of the implementation of the SLIK at least 1 (one) time
in each year.

f. Offline and online requests for information by debtors to the

OJK.

g. Authority of the OJK to adjust information coverage of the

debtor report and to request for additional information in
SLIK.

h. The transitional provision stipulates that after this OJK

Regulation comes into effect, reporters that violate the
provisions of OJK Regulation Number 18/POJK.03/2017 shall
be imposed with the administrative sanctions as stipulated
in this OJK Regulation.
Page Indonesia Banking
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Appendices
LIST OF PROVISIONS IN BANKING
FIELD STILL IN FORCE UP TO
DECEMBER 2020

TOPIC PROVISION NUMBER*)

B.1. Institutional Provisions

1. - Commercial Bank - OJK Regulation Number 17/

Establishment POJK.03/2018 dated 15 August 2018
- Commercial Bank Ownership concerning Amendment to Otoritas
- Commersial Bank Management Jasa Keuangan Regulation Number
- Commercial Bank Branch 6/POJK.03/2016 concerning Business
Office Opening Activities and Office Networks based
- Commercial Bank Branch on Bank Core Capital
Office Closure - OJK Regulation Number 6/
- Sharia Business Unit Opening POJK.03/2016 concerning
Business Activities and Office
Networks based on Bank Core
Capital
- BI Regulation Number 15/14/
PBI/2013 dated 24 December
2013 concerning Amendment
to BI Regulation Number 11/10/
PBI/2009 concerning Sharia
Business Units
- BI Regulation Number 14/8/
PBI/2012 dated 13 July 2012
cocerning Commercial Bank
Share Ownership
 Appendices Page

192

TOPIC PROVISION NUMBER*)

- BI Regulation Number 13/27/PBI/2011

dated 28 December 2011 concerning
Amendment to BI Regulation Number
11/1/PBI/2009 dated 27 January 2009
concerning Commercial Banks
- BI Regulation Number 11/10/PBI/2009
dated 19 March 2009 concerning
Sharia Business Units
- BI Regulation Number 11/1/PBI/2009
dated 27 January 2009 concerning
Commercial Banks
2. - Sharia Commercial Bank - BI Regulation Number 15/13/PBI/2013
Establishment dated 24 December 2013 concerning
- Sharia Commercial Bank Amendment to BI Regulation Number
Ownership 11/3/PBI/2009 concerning Sharia
- Sharia Commercial Bank Commercial Banks (also revoking
Management Artile 26 paragraph (1) of BI Regulation
- Sharia Commercial Bank Number 14/6/PBI/2012)
Branch Office Opening - BI Regulation Number 11/3/PBI/2009
- Commercial Bank Branch dated 29 January 2009 concerning
Office Closure Sharia Commercial Banks

3. - Rural Bank (RB) Establishment - OJK Regulation Number 62/

- RB Ownership POJK.03/2020 dated December 16,
- RB Management and Human 2020 concerning Rural Banks
Resources - OJK Regulation Number 44/
- RB Branch Office Opening POJK.03/2015 dated 29 December 2015
- RB Branch Office Closure concerning Competency Certification
for Members of Board of Directors and
Members of Board of Commissioners
of Rural Banks and Sharia Rural
Financing Banks
Page Indonesia Banking
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TOPIC PROVISION NUMBER *)

4. - Sharia Rural Financing Bank - OJK Regulation Number 44/

(SRFB) Establishent POJK.03/2015 dated 29 December
- SRFB Ownership 2015 concerning Competency
- SRFB Management and Human Certification for Members of the Board
Resources of Directors and Members of Board of
- SRFB Branch Office Opening Commissioners of Rural Banks and
- SRFB Branch Office Closure Sharia Rural Financing Banks
- OJK Regulation Number 3/
POJK.03/2016 dated 27 January 2016
concerning Sharia Rural Financing
Banks

5. Sole Ownership In Banks In OJK Regulation Number 39/

Indonesian POJK.03/2017 dated 12 July 2017
concerning Sole Ownership in Banks
In Indonesian

6. Commercial Bank Share - OJK Regulation Number 56/

Ownership POJK.03/2016 dated 9 December 2016
concerning Commercial Bank Share
Ownership
- OJK Regulation Number 41/
POJK.03/2019 dated 23 December 2019
conerning Mergers, Consolidations,
Acquisitions, Integrations, and
Conversions of Commercial Banks

7. Fit and Proper Test of the Main - OJK Regulation Number 34/
Party of Financial Service POJK.03/2018 dated 27 December 2018
Institution conerning Reassessment of the Main
Party of Financial Service Institution
- OJK Regulation Number 27/
POJK.03/2016 dated 27 July 2016
concerning Fit and Proper Test of
the Main Party of Financial Service
Institution
 Appendices Page

194

TOPIC PROVISION NUMBER *)

- BI Regulation Number 15/13/PBI/2013

dated 24 December 2013 concerning
Amendment to BI Regulation
Number 11/3/PBI/2009 concerning
Sharia Commercial Banks (also
revoking Article 26 paragraph (1) of BI
Regulation Number 14/6/PBI/2012)

8. Mergers, Consolidations, and - OJK Regulation Number 41/

Acquisitions of Commercial POJK.03/2019 dated 23 December 2019
Banks concerning Mergers, Consolidations,
Acquisitions, Integrations and
Conversions of Commercial Banks
- OJK Regulation Number 12/
POJK.03/2020 dated 16 March
2020 concerning Consolidations of
Commercial Banks

9. Mergers, Consolidations, and OJK Regulation Number 21/

Acquisitions of Rural Banks POJK.03/2019 dated 13 September 2019
and Sharia Rural Financing concening Mergers, Consolidations,
Banks and Acquisitions of Rural Banks and
Sharia Rural Financing Banks

10. Change in Commercial Bank BI Regulation Number 10/9/PBI/2008

Business License to Rural Bank concerning Change in Commercial
Business License in the context Bank Business License to Rural Bank
of Consolidation Business License in the context of
Consolidation

11 Incentives in the Context of - BI Regulation Number 9/12/PBI/2007

Bank Consolidations dated 21 September 2007 concerning
Amendment to BI Regulation Number
8/17/PBI/2006 concerning Incentives
in the Context of Bank Consolidations
- BI Regulation Number 8/17/PBI/2006
concerning Incentives in the Context
of Bank Consolidations
Page Indonesia Banking
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TOPIC PROVISION NUMBER *)

- OJK Regulation Number 12/

POJK.03/2020 dated 16 March
2020 concerning Consolidations of
Commercial Banks

12.. Foreign Bank Branch - OJK Regulation Number 55/

Offices and Foreign Bank POJK.03/2016 dated 9 December
Representative Office Opening 2016 concerning Application of Good
Corporate Governance for Commercial
Banks
- Director Decree Number 32/37/KEP/
DIR dated 12 May 1999 concerning
Requirements and Procedures for
Opening Branch Office, SubBranch
Office and Representative Office of
Bank domiciling Overseas
13. Change of Bank Name and/or - BI Regulation Number 13/27/PBI/2011
Logo dated 28 December 2011 concerning
Amendment to BI Regulation Number
11/1/PBI/2009 dated 27 January 2009
concerning Commercial Banks.
- BI Regulation Number 11/3/PBI/2009
dated 29 January 2009 concerning
Sharia Commercial Banks.
- BI Regulation Number 11/1/PBI/2009
dated 27 January 2009 concerning
Commercial Banks.

14. - Commercial Bank Liquidation - BI Regulation Number 13/27/PBI/2011

- Revocation of Business dated 28 December 2011 concerning
Licenses of Branch Offices of Amendment to BI Regulation Number
Banks Domiciling Overseas 11/1/PBI/2009 dated 27 January 2009
- Revocation of Business License concerning Commercial Banks.
at the Request of Commercial - BI Regulation Number 11/1/PBI/2009
Bank Shareholders (Self dated 27 January 2009 concerning
Liquidation) Commercial Banks.
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- Director Decree Number 32/53/

KEP/DIR concerning Procedures for
Revocations of Business Licenses,
Dissolutions, and Liquidations of
Commercial Banks.
- Government Regulation Number 25
of 1999 dated 3 May 1999 concerning
Revocations of Business Licenses,
Dissolutions, and Liquidations of
Banks.

15. RB Liquidation and Business - BI Regulation Number13/6/PBI/2011

License Revocation dated 24 January 2011 concerning
Follow Up of the Handling of Sharia
Rural Financing Banks Under Special
Supervision Status
- BI Regulation Number 11/20/PBI/2009
dated 4 June 2009 concerning Follow
Up of the Handling of Rural Banks
Under Special Supervision
- Director Decree Number 32/54/KEP/
DIR dated 14 May 1999 concerning
Procedures for Revocations of
Business Licenses, Dissolutions, and
Liquidations of RBs

16. Change in Conventional Bank OJK Regulation Number 64/

Business Activities into Sharia POJK.03/2016 concerning Change
Bank Business Activities in Conventional Bank Business
Activities into Sharia Bank Business
Activities
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17. Development of Human - OJK Regulation Number 47/

Resources POJK.03/2017 dated 12 July 2017
concerning Requirement on
Provision of Funds for Education and
Training for Development of Human
Resourcces of Rural Banks and Sharia
Rural Financing Banks
- Director Decree Number 31/310/KEP/
DIR/ 1999 concerning Provision of
Funds For Development of Human
Resources of Commercial Banks

18. Transformations of Village OJK Regulation Number 10/

Credit Agencies into RBs POJK.03/2016 dated 2 February 2016
concerning Fulfillment of Rural Bank
Provisions and Transformation of
Village Credit Agency Given The Rural
Bank Status

19. Transformations of Micro OJK Regulation Number 62/

Finance Institutions into RBs POJK.03/2016 dated 28 December
and Sharia Micro Finance 2016 concerning Transformations
Intitutions into SRFBs of Conventional Micro Finance
Institutions into Rural Banks and
Sharia Micro Finance Intitutions into
Sharia Rural Fnancing Banks
20. Financial Conglomeration OJK Regulation Number 45/
POJK.03/2020 dated October 14, 2020
regarding Financial Conglomeration

21 Separation of Sharia Business OJK Regulation Number 59/

Units (Spin-Off) POJK.03/2020 dated December 16,
2020 concerning Requirements and
Procedure for Separating Sharia
Business Units
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B.2. Provisions concerning Bank Business and Supports

Activities, and Services
1. Business Activities and - OJK Regulation Number 17/
Office Networks Based On POJK.03/2018 dated 15 August 2018
Commercial Bank Core Capital concerning Amendment to Otoritas
Jasa Keuangan Regulation Number
6/POJK.03/2016 concerning Business
Activities and Office Networks based
on Bank Core Capital
- OJK Regulation Number 6/
POJK.03/2016 dated 27 January 2016
concerning Business Activities and
Office Networks based on Bank Core
Capital

2. RB Business Activities and OJK Regulation Number 12/

Office Network Regions based POJK.03/2016 dated 17 February 2016
on Core Capital concerning RB Business Activities
and Office Network Regions based on
Core Capital
3. Derivative Transactions - BI Regulation Number 10/38/
PBI/2008 dated 16 December 2008
concerning Amendment to BI
Regulation Number 7/31/PBI/2005
dated 13 September 2005 concerning
Derivative Transactions
- BI Regulation Number 7/31/PBI/2005
dated 13 September 2005 concerning
Derivative Transactions

4. Certificate of Deposit OJK Regulation Number 10/

POJK.03/2015 concerning Issuances of
Certificates of Deposit by Banks
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5. Officeless Financial Services OJK Regulation Number 19/

In The Context of Financial POJK.03/2014 concerning Officeless
Inclusion (Laku Pandai) Financial Services In The Context of
Financial Inclusion (Laku Pandai)

6. Credit Restructuring OJK Regulation Number 40/

POJK.03/2019 dated 19 December
2019 concerning Assessment of
Commercial Bank Asset Quality

7. Bank Business Activity In The - OJK Regulation Number 25/

Form Of Custodianship With POJK.03/2016 date 15 July 2016
Management (Trust) concernng Amendment to OJK
Regulation Number 27/POJK.03/2015
concerning Bank Business Activity
In The Form Of Custodianship With
Management (Trust)
- OJK Regulation Number 27/
POJK.03/2015 dated 11 December 2015
concerning Bank Business Activity
In The Form Of Custodianship With
Management (Trust)

8. Guideline for Compilation of OJK Regulation Number 42/

Bank Credit Policies POJK.03/2017 dated 12 July 2017
concerning Requirement to Compile
and Implement Bank Credit or
Financing Policies for Commercial
Banks

9. Standard for Operating OJK Regulation Number 75/

Information Technology for POJK.03/2016 dated 28 December 2016
Rural Banks and Sharia Rural concerning Standard for Operating
Financing Banks Information Technology for Rural
Banks and Sharia Rural Financing
Banks
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10. Sharia Bank and Sharia OJK Regulation Number 24/

Business Unit Products and POJK.03/2015 dated 8 December 2015
Activities concerning Sharia Bank and Sharia
Business Unit Products and Activities

11. Sharia Principles In Sharia - BI Regulation Number 10/16/PBI/2008

Bank Fund Accummulation dated 25 September 2008 concerning
and Fund Channeling Activities Amendment to BI Regulation
Number 9/19/PBI/2007 concerning
Implementation of Sharia Principles
in Sharia Bank Fund Accummulation
and Fund Channeling Activities, As
Well As Provision of Services
- BI Regulation Number 9/19/PBI/2007
dated 17 December 2007 concerning
Implementation of Sharia Principles
in Sharia Bank Fund Accummulation
and Fund Channeling Activities, As
Well As Provision of Services
12. Requirement to Fulfill Net OJK Regulation Number 50/
Stable Funding Ratio for POJK.03/2017 dated 13 July 2017
Commercial Banks concerning Requirement to Fulfill Net
Stable Funding Ratio for Commercial
Banks

13. Operation of Digital Banking OJK Regulation Number 12/

Services by Commercial Banks POJK.03/2018 dated 6 August 2018
concerning Operation of Digital
Banking Services by Commercial
Banks

14. Banking Synergy Within One OJK Regulation Number 28/

Ownership For Development of POJK.03/2019 dated 19 November 2019
Islaamic Banking concerning Banking Synergy Within
One Ownership For Development of
Islamic Banking
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B.3. Provisions related to Prudential Principle

1. Commercial Bank Core Capital - OJK Regulation Number 17/
POJK.03/2018 dated 15 August 2018
concerning Amendment to Otoritas
Jasa Keuangan Regulation Number
6/POJK.03/2016 concerning Business
Activities and Office Networks based
on Bank Core Capital
- OJK Regulation Number 6/
POJK.03/2016 dated 27 January 2016
concerning Business Activities and
Office Networks based on Bank Core
Capital
- BI Regulation Number 9/16/PBI/2007
dated 3 December 2007 concerning
Amendment to BI Regulation
Number 7/15/PBI/2005 concerning
Commercial Bank Core Capital
- Minimum Amount
BI Regulation Number 7/15/PBI/2005
concerning Commercial Bank Core
Capital Minimum Amount

2. RB Core Capital - OJK Regulation Number 5/

POJK.03/2015 concerning Rural
Bank Minimum Capital Adequacy
Requirement and Fulfilment of
Minimum Core Capital
- BI Regulation Number 8/18/PBI/2006
dated 5 October 2006 concerning
Rural Bank Minimum Capital
Adequacy Requirement
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3. Commercial Bank Minimum - OJK Regulation Number 34/

Capital Adequacy Requirement POJK.03/2016 dated 26 September
2016 concerning Amendment
to OJK Regulation Number 11/
POJK.03/2016 concerning Commercial
Bank Minimum Capital Adequacy
Requirement
- OJK Regulation Number 11/
POJK.03/2016 dated 2 February
2016 concerning Commercial
Bank Minimum Capital Adequacy
Requirement

4. Minimum Capital Requirement OJK Regulation Number 21/

for Sharia Commercial Banks POJK.03/2014 dated 18 November
and Sharia Business Units 2014 concerning Sharia Commercial
Bank Minimum Capital Adequacy
Requirement

5. RB Minimum Capital Adequacy - OJK Regulation Number 5/

Requirement POJK.03/2015 concerning Rural
Bank Minimum Capital Adequacy
Requirement and Fulfilment of
Minimum Core Capital
- Articles 2, 3, 4, and 5 of BI Regulation
Number 8/18/PBI/2006 dated 5
October 2006 concerning Rural
Bank Minimum Capital Adequacy
Requirement

6. SRFB Minimum Capital - OJK Regulation Number 66/

Requirement POJK.03/2016 dated 28 December
2016 concerning Sharia Rural
Bank Minimum Capital Adequacy
Requirement and Fulfilment Of
Minimum Core Capital
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- Articles 2, 3, 4, and 5 of BI Regulation

Number 8/22/PBI/2006 dated 5
October 2006 concerning Minimum
Capital Adequacy Requirement for
Sharia Rural Banks Based On Sharia
Principles

7. Integrated Minimum Capital OJK Regulation Number 26/

Adequacy Requirement for POJK.03/2015 concerning Integrated
Financial Conglomerates Minimum Capital Adequacy
Requirement for Financial
Conglomerates

8. Determination of Systemically OJK Regulation Number 2/

Important Banks dan Capital POJK.03/2018 dated 26 March
Surcharges 2018 concerning Determination of
Systemically Important Banks dan
Capital Surcharges

9. Bank Legal Lending Limit or OJK Regulation Number 15/

Maximum Limit of Funds POJK.03/2018 dated 15 August 2018
Channeling to Promote the concerning Bank Legal Lending
Growth of the Tourism Sector Limit or Maximum Limit of Funds
and to Increase Foreign Channeling to Promote Growth in
Currency Reserve Tourism Sector and to Increase
Foreign Currency Reserve
10. Legal Lending Limit and Limit - OJK Regulation Number 38/
on Provision of Large Funds for POJK.03/2019 dated 19 December
Commercial Banks 2019 concerning Amendment to OJK
Regulation Number 32/POJK.03/2018
concerning Legal Lending Limit and
Limit on Provision of Large Funds for
Commercial Banks
- OJK Regulation Number 32/
POJK.03/2018 dated 26 December
2018 concerning Legal Lending Limit
and Limit on Provision of Large Funds
for Commercial Banks
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- BI Regulation Number 8/13/PBI/2006

dated 5 October 2006 concerning
Amendment to BI Regulation Number
7/3/PBI/2005 dated 20 January 2005
concerning Commercial Bank Legal
Lending Limit
- BI Regulation Number 7/3/PBI/2005
dated 20 January 2005 concerning
Commercial Bank Legal Lending Limit

11. Rural Bank Legal Lending Limit OJK Regulation Number 49/
POJK.03/2017 dated 12 July 2017
concerning Rural Bank Legal Lending
Limit

12. Sharia Rural Financing Bank BI Regulation Number 13/5/PBI/2011

Legal Lending Limit dated 24 January 2011 concerning
Sharia Rural Financing Bank
Maximum Limit For Funds Channeling

13. Limits on Credit or Financing - OJK Regulation Number 16/

Extensions by Commercial POJK.03/2018 dated 15 August 2018
Banks for Provision of Lands concerning Amendment to OJK
and/or Land Preparations Regulation Number 44/POJK.03/2017
concerning Limits on Credit or
Financing Extensions by Commercial
Banks for Provision of Lands and/or
Land Preparations
- OJK Regulation Number 44/
POJK.03/2017 concerning Limits on
Credit or Financing Extensions by
Commercial Banks for Provision of
Lands and/or Land Preparations
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14. Commercial Bank Asset Quality OJK Regulation Number 40/
POJK.03/2019 dated 19 December
2019 concerning Assessment of
Commercial BankAsset Quality

15. Assessment of Commercial OJK Regulation Number 14/

Bank Asset Quality in order POJK.03/2018 dated 15 August
to Promote the Growth in the 2018 concerning Assessment of
Housing Sector and to Increase Commercial Bank Asset Quality
Foreign Currency Reserve in order to Promote the Growth in
the Housing Sector and to Increase
Foreign Currency Reserve

16. RB Earning Asset Quality OJK Regulation Number 33/

POJK.03/2018 dated 27 December
2018 concerning Rural Bank Earning
Asset Quality and Establishment of
Provision for Earning Asset Losses

17. Sharia Commercial Bank and - OJK Regulation Number 19/

Sharia Business Unit Asset POJK.03/2018 dated 20 September
Quality 2018 concerning Amendment to OJK
Regulation Number 16/POJK.03/2014
concerning Assessment of Sharia
Commercial Bank and Sharia
Business Unit Asset Quality
- OJK Regulation Number 16/
POJK.03/2014 dated 18 November
2014 concerning Assessment of
Sharia Commercial Bank and Sharia
Business Unit Asset Quality

18. Sharia Rural Financing Bank OJK Regulation Number 29/

Earning Asset Quality and POJK.03/2019 dated 29 November
Establishment of Provision for 2019 concerning Sharia Rural
Earning Asset Write-Offs Financing Bank Earning Asset Quality
and Establishment of Provision for
Earning Asset Write-Offs
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19. Commercial Bank Provision for BI Regulation Number 14/15/
Earning Asset Write-Offs PBI/2012 concerning Assessment of
Commercial Bank Asset Quality

20. Conventional RB Provision for OJK Regulation Number 33/

Earning Asset Write-Offs POJK.03/2018 dated 27 December
2018 concerning Rural Bank Earning
Asset Quality and Establishment of
Provision for Earning Asset Losses

21. Sharia Commercial Bank and OJK Regulation Number 16/

Sharia Business Unit Provision POJK.03/2014 dated 18 November
for Asset Write-Offs 2014 concerning Assessment of
Sharia Commercial Bank and Sharia
Business Unit Asset Quality

22. Prudential Principle in Capital OJK Regulation Number 36/

Participation Activities of POJK.03/2017 dated 12 July 2017
Commercial Banks concerning Prudential Principle in
Capital Participation Activities

23. Prudential Principle For OJK Regulation Number 9/

Commercial Banks That POJK.03/2016 dated 27 January 2016
Outsource Part Of The concerning Prudential Principle For
Implementation of Works To Commercial Banks That Outsource
Other Parties Part Of The Implementation of Works
To Other Parties

24. Prudential Principle In Asset OJK Regulation Number 11/

Securitization Ativities For POJK.03/2019 dated 28 March 2019
Commercial Banks concerning Prudential Principle In
Asset Securitization Ativities For
Commercial Banks
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25. Prudential Principle In The - OJK Regulation Number 6/

Conduct Of Structured Product POJK.03/2018 dated 19 April 2018
Activities For Commercial concerning Amendment to OJK
Banks Regulation Number 7/POJK.03/2016
concerning Prudential Principle In
The Conduct Of Structured Product
Activities For Commercial Banks
- OJK Regulation Number 7/
POJK.03/2016 dated 27 January 2016
concerning Prudential Principle In
The Conduct Of Structured Product
Activities For Commercial Banks

26. Prudential Principle In The OJK Regulation Number 8/

Conduct Of Overseas Financial POJK.03/2016 dated 27 January 2016
Product Agency Activities By concerning Prudential Principle In
Commercial Banks The Conduct Of Overseas Financial
Product Agency Activities By
Commercial Banks

27. Implementation of Good - OJK Regulation Number 55/

Corporate Governance (GCG) POJK.03/2016 dated 9 December
For Commercial Banks 2016 concerning Implementation
of Good Corporate Governance For
Commercial Banks
- OJK Regulation Number 45/
POJK.03/2015 dated 28 December
2015 concerning Implementation
of Good Corporate Governance in
The Provision Of Remunerations for
Commercial Banks
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28. Implementation of GCG For - OJK Regulation Number 59/

Sharia Conmmercial Banks POJK.03/2017 dated 18 December
and Sharia Business Units 2017 concerning Implementation
of Good Corporate Governance in
Provision of Remunerations For
Sharia Commercial Banks and Sharia
Business Units
- BI Regulation Number 11/33/PBI/2009
dated 7 December 2009 concerning
Implementation of Good Corporate
Governance For Sharia Conmmercial
Banks and Sharia Business units
29. Implementation of Integrated OJK Regulation Number 4/
Good Corporate Governance for POJK.03/2015 concerning
Rural Banks Implementation of Integrated Good
Corporate Governance for Rural Banks
30. Implementation of Integrated OJK Regulation Number 24/
Good Corporate Governance for POJK.03/2018 dated 5 December
Sharia Rural Financing Banks 2018 concerning Implementation of
Integrated Good Corporate Governance
for Sharia Rural Financing Banks

31. Implementation of Integrated OJK Regulation Number 18/

Good Corporate Governance for POJK.03/2014 dated 21 November
Financial Conglomerates 2014 concerning Implementation of
Integrated Good Corporate Governance
for Financial Conglomerates

32. Implementation of Commercial OJK Regulation Number 46/

Bank Compliance Function POJK.03/2017 dated 12 July 2017
concerning Implementation of
Commercial Bank Compliance
Function
33. Implementation of Risk OJK Regulation Number 18/
Management For Commercial POJK.03/2016 dated 22 March 2016
Banks concerning Implementation of Risk
Management For Commercial Banks
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34. Implementation of Risk OJK Regulation Number 65/

Management For Sharia POJK.03/2016 dated 28 December 2016
Commercial Banks and Sharia concerning Implementation of Risk
Business Units Management For Sharia Commercial
Banks and Sharia Business Units

35. Implementation of Risk OJK Regulation Number 13/

Management For Rural Banks POJK.03/2015 concerning
Implementation of Risk Management
For Rural Banks

36. Implementation of Risk OJK Regulation Number 23/

Management For Sharia Rural POJK.03/2018 dated 5 December
Financing Banks 2018 concerning Implementation of
Risk Management For Sharia Rural
Financing Banks

37. Implementation of Integrated OJK Regulation Number 17/

Risk Management For Financial POJK.03/2014 dated 21 November
Conglomerates 2014 concerning Implementation
of Integrated Risk Management For
Financial Conglomerates

38. Implementation of Risk - OJK Regulation Number 13/

Management In The Use of POJK.03/2020 dated 31 March 2020
Information Technology concerning Amendment to OJK
Regulation Number 38/POJK.03/2016
dated 7 December 2016 concerning
Implementation of Risk Management
In The Use Of Information Technology
By Commercial Banks
- OJK Regulation Number 38/
POJK.03/2016 dated 7 December 2016
concerning Implementation of Risk
Management In The Use Of Information
Technology By Commercial Banks
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39. Implementation of OJK Regulation Number 38/

Consolidated Risk POJK.03/2017 dated 12 July 2017
Management For Banks concerning Implementation of
That Exercise Control Over Consolidated Risk Management For
Subsidiary Companies Banks That Exercise Control Over
Subsidiary Companies
40. Credit or Financing Extended OJK Regulation Number 40/
to Securities Companies and POJK.03/2017 date 12 July 2017
Credit or Financing With Share concerning Credit or Financing
Collaterals Extended to Securities Companies
and Credit or Financing With Share
Collaterals
41. Risk Management Certification - BI Regulation Number 12/7/PBI/2010
For Commercial Bank Members dated 19 April 2010 concerning
of Management and Officers Amendment to BI Regulation Number
11/19/PBI/2009 dated 4 June 2009
concerning Risk Management
Certification For Commercial Bank
Members of Management and Officers
- BI Regulation Number 11/19/PBI/2009
dated 4 June 2009 concerning
Risk Management Certification
For Commercial Bank Members of
Management and Officers

42. Implementation of Anti Money OJK Regulation Number 12/

Laundering and Combating POJK.01/2017 dated 21 March 2017
the Financing of Terrorism concerning Implementation of Anti
Program in Financial Services Money Laundering and Combating
Sector the Financing of Terrorism Program in
Financial Services Sector
43. Utilization of Foreign Workers OJK Regulation Number 37/
and Transfer of Knowledge POJK.03/2017 dated 12 July 2017
Program in Banking Sector concerning Utilization of Foreign
Workers and Transfer of Knowledge
Program in Banking Sector
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44. Implementation of Risk BI Circular Letter Number 11/36/DPNP

Management On Bank dated 31 December 2009 concerning
Activities Related To Mutual Amendment to BI Circular Letter
Funds Number 7/19/DPNP dated 14 June 2005
concerning Implementation of Risk
Management at Banks That Conduct
Activities Related To Mutual Funds

45. Implementation of Risk OJK Regulation Number 57/

Management At Commercial POJK.03/2016 dated 9 December 2016
Banks That Provide Prime concerning Implementation of Risk
Customer Service Management At Commercial Banks
That Provide Prime Customer Service

46. National Economic Stimulus - OJK Regulation Number 11/

For Commercial Banks, Sharia POJK.03/2015 dated 24 August 2015
Commercial Banks, and Sharia concerning Prudential Stipulation In
Business Units The Context Of National Economic
Stimulus for Commercial Banks
- OJK Regulation Number 12/
POJK.03/2015 dated 24 August 2015
concerning Prudential Stipulation In
The Context Of National Economic
Stimulus for Sharia Commercial
Banks and Sharia Business Units

47. Requirement To Meet Liquidity OJK Regulation Number 42/

Coverage Ratio For Commercial POJK.03/2015 dated 23 December
Banks 2015 concerning Requirement To
Meet Liquidity Coverage Ratio For
Commercial Banks
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48. Special Treatment for Bank OJK Regulation Number 45/

Credit or Financing for Certain POJK.03/2017 dated 12 July 2017
Areas in Indonesia Affected by concerning Special Treatment for
Natural Disasters Bank Credit or Financing for Certain
Areas in Indonesia Affected by Natural
Disasters

49. Implementation of Internal OJK Regulation Number 1/

Audit Function in Commercial POJK.03/2019 dated 29 January
Banks 2019 concerning Implementation of
Internal Audit Function in Commercial
Banks
50. Requirement to Meet Leverage OJK Regulation Number 31/
Ratio For Commercial Banks POJK.03/2019 dated 2 December 2019
concerning Requirement to Meet
Leverage Ratio for Commercial Banks

51. Implementation of Anti Fraud OJK Regulation Number 39/

Strategy and Prevention of POJK.03/2019 dated 19 December 2019
Banking Crime concerning Implementation of Anti
Fraud Strategy for Commercial Banks

52. National Economy Stimulus as - OJK Regulation Number 48/

Countercyclical Policy on the POJK.03/2020 dated December 1,
Impact of the 2019 Coronavirus 2020 concerning Amendment to OJK
Disease Spreading Regulation Number 11/POJK.03/2020
concerning National Economic
Stimulus as a Countercyclical Policy
against the Impacts of the Spread of
2019 Coronavirus Disease
- OJK Regulation Number 11/
POJK.03/2020 dated 16 March 2020
concerning National Economy
Stimulus as Countercyclical Policy on
the Impact of the 2019 Coronavirus
Disease Spreading
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53. Policies for Rural Banks and OJK Regulation Number 34/
Sharia Rural Financing Banks POJK.03/2020 dated 2 June 2020
As The Impact of The Spreading concerning Policies for Rural Banks
of 2019 Coronavirus Disease and Sharia Rural Financing Banks As
The Impact of The Spreading of 2019
Coronavirus Disease

B.4. Regulations concerning Accounting Reports and

Standards
1. Transparency of Bank Financial OJK Regulation Number 37/
Condition POJK.03/2019 dated 19 December
2019 concerning Transparency and
Publication of Bank Reports

2. Transparency of RB Financial OJK Regulation Number 48/

Condition POJK.03/2017 dated 12 July 2017 dated
Transparency of Rural Bank Financial
Condition

3. Transparency of SRFB Financial OJK Regulation Number 35/

Condition POJK.03/2019 dated 13 December 2019
concerning Transparency of Sharia
Rural Financing Bank Financial
Condition

4. Transparency of Bank Product BI Regulation Number 7/6/PBI/2005

Information and Use of dated 20 January 2005 concerning
Customer Personal Data Transparency of Bank Product
Information and Use of Customer
Personal Data

5. Commercial Bank Reports - BI Regulation Number 14/12/PBI/2012

dated 15 October 2012 concerning
Commercial Bank Head Office Reports
- BI Regulation Number 13/8/PBI/2011
dated 4 February 2011 concerning
Commercial Bank Daily Reports
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6. RB and SRFB Reports OJK Regulation Number 13/

POJK.03/2019 dated 2 May 2019
concerning Rural Bank and Sharia
Rural Financing Bank Reporting
through Otoritas Jasa Keuangan
Reporting System
7. Credit Information - OJK Regulation Number 64/
POJK.03/2020 dated December 28,
2020 concerning Amendment to OJK
Regulation Number 18/POJK.03/2017
concerning Debtor Information
Reporting and Requests Through
Sistem Layanan Informasi Keuangan
(Financial Information Service
System)
- OJK Regulation Number 18/
POJK.03/2017 dated 26 April 2017
concerning Reporting of and Request
for Debtor Information through
Financial Information Services
System
- BI Regulation Number 15/1/PBI/2013
dated 18 February 2013 concerning
Credit Information Management
Institution
8. Commercial Bank Reporting OJK Regulation Number 63/
Through Otoritas Jasa POJK.03/2020 dated 22 December
Keuangan Reporting System 2020 concerning Commercial Bank
Reporting Through Otoritas Jasa
Keuangan’s Reporting System

9. Submission of Reports through OJK Regulation Number 36/

the Integrated Reporting Portal POJK.03/2019 dated 18 December 2019
concerning Submission of Reports
through the Integrated Reporting
Portal
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B.5. Regulations concerning Bank Supervision

1. Bank Business Plan OJK Regulation Number 5/
POJK.03/2016 dated 27 January 2016
concerning Bank Business Plan

2. Rural Bank and Sharia Rural OJK Regulation Number 37/

Financing Bank Business Plans POJK.03/2016 dated 30 November
2016 concerning Rural Bank and
Sharia Rural Financing Bank Business
Plans

3. Assessment of Commercial OJK Regulation Number 4/

Bank Soundness Level POJK.03/2016 dated 27 January
2016 concerning Assessment of
Commercial Bank Soundness Level

4. Assessment of Sharia OJK Regulation Number 8/

Commercial Bank Soundness POJK.03/2014 dated 11 June 2014
Level concerning Assessment of Sharia
Commercial Bank and Sharia Busines
Unit Soundness Levels

5. Assessment of Rural Bank Director Decree Number 30/12/KEP/

Soundness Level DIR dated 30 April 1997 concerning
Procedure For Assessment of RB
Soundness Level

6. Assessment of Sharia Rural OJK Regulation Number 20/

Financing Bank Soundness POJK.03/2019 dated 9 September 2020
Level concerning Sharia Rural Financing
Bank Soundness Level System
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7. Determination of Bank - OJK Regulation Number 32/

Status and Supervision POJK.03/2019 dated 12 December
Follow Up 2019 concerning Amendment to OJK
Regulation Number 19/POJK.03/2017
concerning Rural Bank and Sharia
Rural Financing Bank Determination
of Status and Supervision Follow Up
- OJK Regulation Number 19/
POJK.03/2017 dated 8 May 2017
concerning Rural Bank and Sharia
Rural Financing Bank Determination
of Status and Supervision Follow Up
- OJK Regulation Number 15/
POJK.03/2017 dated 4 April 2017
concerning Commercial Bank
Determination of Status and
Supervision Follow Up

8. Follow Up of Bank Supervision OJK Regulation Number 43/

Implementation POJK.03/2017 dated 12 July 2017
concerning Follow Up of Bank
Supervision Implementation

9. Requirement and Procedure OJK Regulation Number 41/

of Bank Examination POJK.03/2017 daed 12 July 2017
concerning Requirement and
Procedure of Bank Examination

10. Recovery Plans For Systemic OJK Regulation Number 14/

Banks POJK.03/2017 dated 4 April 2017
concerning Recovery Plans For
Systemic Banks

11. Intermediary Banks OJK Regulation Number 16/

POJK.03/2017 dated 4 April 2017
concerning Intermediary Banks
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B.6. Regulations Concerning Consumer Education and

Protection
1. Consumer Protection - OJK Regulation Number 18/
POJK.07/2018 dated 10 September
2018 concerning Consumer Complaint
Services in Financial Services Sector
- OJK Regulation Number 1/
POJK.07/2013 dated 26 July 2013
concerning Consumer Protection in
Financial Services Sector

2. Alternative Dispute Resolution OJK Regulation Number 1/POJK.07/2014

Bodies in Financial Services dated 16 January 2014 concerning
Sector Alternative Dispute Resolution Bodies
in Financial Services Sector

3. Financial Literacy and Inclusion OJK Regulation Number 76/

POJK.07/2016 dated 28 December 2016
concerning Enhancement of Financial
Literacy and Inclusion in The Financial
Services Sector for Consumers and/or
the Public

B.7. Other Regulations

1. Bank Secrecy BI Regulation Number 2/19/PBI/2000
dated 7 September 2000 concerning
Requirement and Procedure for
Issuance Written Orders or Permits For
Disclosing Bank Secrecy
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2. Authority On Criminal OJK Regulation Noumber 22/

Investigations in Financial POJK.01/2015 dated 28 December 2015
Services Sector concerning Criminal Investigations in
Financial Services Sector

3. Uses of the Services of Public OJK Regulation Number 13/

Accountants and Public POJK.03/2017 concerning Uses of the
Accounting Firms in Financial Services of Public Accountants and
Service Activities Public Accounting Firms in Financial
Service Activities

4. Sustainable Finance OJK Regulation Number 51/

Implementation for Financial POJK.03/2017 dated 18 July 2017
Service Institutions, Issuers and concerning Sustainable Finance
Public Companies Implementation for Financial Service
Institutions, Issuers and Public
Companies

5. Reporting of Foreign Customer OJK Regulation Number 25/

Information regarding Taxation POJK.03/2019 dated 16 October 2019
to Partner Countries or Partner concerning Reporting of Foreign
Jurisdictions Customer Information regarding
Taxation to Partner Countries or
Partner Jurisdictions

6. Bank Coaching OJK Regulation Number 18/

POJK.03/2020 dated 21 April 2020
concerning Written Instructions for
Handling of Bank Problems
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TYPES OF REPORTING ALREADY

FACILITATED BY APOLO

Type of Report Related Regulations FSI’s that are Obliged to Report

Reporting of Liquidity OJK Regulation Number - BUKU 3 Commercial

Coverage Ratio (LCR) 42/POJK.03/2015 Banks
concerning Requirement - BUKU 4 Commercial
to Meet Liquidity Banks
Coverage Ratio for - Foreign Banks
Commercial Banks

Reporting of Tax - Act Number 11 of 2016 - Gateway consisting of

Amnesty concerning Tax Amnesty 21 Banks, 18 Investment
Managers, and 19
Securities Brokers-Dealers

Reporting of Business - OJK Regulation Number All RBs/SRFBs

Plans (RBs/SRFBs) 37/POJK.03/2016
concerning Business
Plans of Rural Banks and
Sharia Rural Financing
Banks
- OJK Circular Letter
Number 52/
SEOJK.03/2016
concerning Business
Plans of Rural Banks
- OJK Circular Letter
Number 53/
SEOJK.03/2016
concerning Business
Plans of Sharia Rural
Financing Banks
 Appendices Page

220

Type of Report Related Regulations FSI’s that are Obliged to Report

Reporting of Net Stable OJK Regulation Number - BUKU 3 Commercial

Funding Ratio 50/POJK.03/2017 dated Banks
July 13, 2014 regarding - BUKU 4 Commercial
Requirement to Meet Banks
Net Stable Funding Ratio - Foreign Banks
(NSFR) for Commercial
Banks

Reporting of - OJK Regulation Number All CCBs, SCBs, and SBUs

Commercial Bank 37/POJK.03/2019
Publications concerning Transparency
and Publication of Bank
Reports
- OJK Circular
Letter Number 9/
SEOJK.03/2020
concerning Transparency
and Publication
of Conventional
Commercial Bank
Reports
- OJK Circular
Letter Number 10/
SEOJK.03/2020
concerning Transparency
and Publication of
Sharia Commercial Bank
and Sharia Business
Unit Reports
- OJK Circular Letter
Number 34/
SEOJK.03/2017
concerning Transparency
of Information on Prime
Lending Rate
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Type of Report Related Regulations FSI’s that are Obliged to Report

RB Monthly Reporting - OJK Regulation Number All RBs

13/POJK.03/2019
concerning RB and SRFB
Reporting through OJK’s
Reporting System
- OJK Circular Letter
Number 8/SEOJK.
O3/2019 concerning RB
Monthly Reports

SRFB Reporting - OJK Regulation Number All SRFBs

13/POJK.03/2019
concerning RB and SRFB
Reporting through OJK’s
Reporting System
- OJK Circular
Letter Number 18/
SEOJK.03/2019
concerning Sharia Rural
Financing Bank Monthly
Reports

Reporting of Sharia - OJK Regulation Number All SCBs

MCAR and RBWA 21/POJK.03/2014
concerning Minimum
Capital Adequacy
Requirement for Sharia
Commercial Banks
- OJK Circular
Letter Number 12/
SEOJK.03/2015
concerning Minimum
Capital Adequacy
Requirement Based On
Risk Profile For Sharia
Commercial Banks
 Appendices Page

222

Type of Report Related Regulations FSI’s that are Obliged to Report

- OJK Circular
Letter Number 13/
SEOJK.03/2015
concerning Calculation
of Risk-Based Weighted
Asset for Operational
Risk Using Basic
Indicator Approach for
Sharia Commercial
Banks
- OJK Circular Letter
Number 34/
SEOJK.03/2015
concerning Calculation
of Risk-Based Weighted
Asset for Credit Risk
Using Standard
Approach for Sharia
Commercial Banks
- OJK Circular Letter
Number 35/
SEOJK.03/2015
concerning Calculation
of Risk-Based Weighted
Asset for Market
Risk Using Standard
Approach for Sharia
Commercial Banks
Reporting of - OJK Regulation Number All CCBs
Conventional MCAR 11/POJK.03/2016
and RBWA concerning MCAR for
Commercial Banks
- OJK Circular Letter
Number 38/
SEOJK.03/2016
concerning Guideline on
The Use of
Page Indonesia Banking
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223

Type of Report Related Regulations FSI’s that are Obliged to Report

Standard Method in
The Calculation of
Commercial Bank MCAR
By Taking Into Account
Market Risk
- OJK Circular Letter
Number 42/
SEOJK.03/2016
concerning Guideline
for MCAR Calculation for
Credit Risk
- OJK Circular Letter
Number 48/
SEOJK.03/2016
concerning Guideline for
Calculation of Derivative
Transaction Net Claim In
The Calculation of RBWA
for Credit Risk Using
Standard Approach

Reporting of OJK Regulation Number

Asset Quality and 40/POJK.03/2019
Establishment of concerning Assessment
Allowance for Asset of Asset Quality of
Write-Offs (AAWO) in Commercial Banks
Consolidated Manner
- CCBs
Reporting of - OJK Regulation Number SCBs that own and/or
Asset Quality and 38/POJK.03/2017 undertake control over
Establishment of concerning subsidiary companies
AAWO in Consolidated Implementation of
Manner – SCBs Risk Management in
Consolidated Manner
For Banks That
Undertake Control Over
Subsidiary Companies
 Appendices Page

224

Type of Report Related Regulations FSI’s that are Obliged to Report

- OJK Circular Letter

Number 43/
SEOJK.03/2017
concerning Prudential
Principles and Report
on Implementation
of Risk Management
in Consolidated
Manner For Banks That
Undertake Control Over
Subsidiary Companies
Report on - OJK Regulation Number SCBs that own and/or
Implementation of 38/POJK.03/2017 undertake control over
Consolidated Risk concerning subsidiary companies
Management - SCBs Implementation of
Risk Management in
Consolidated Manner For
Banks That Undertake
Control Over Subsidiary
Companies
- OJK Circular Letter
Number 43/
SEOJK.03/2017
concerning Prudential
Principles and Report
on Implementation of
Risk Management in
Consolidated Manner For
Banks That Undertake
Control Over Subsidiary
Companies
Report on Legal OJK Regulation Number All CCBs
Lending Limit and 38/POJK.03/2019
Extensions of Large concerning Legal Lending
Funds Limit and Extensions
of Large Funds For
Commercial Banks
Page Indonesia Banking
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225

Type of Report Related Regulations FSI’s that are Obliged to Report

Report on Credit - OJK Regulation Number All CCBs

Restructurings 40/POJK.03/2019
concerning Assessment
of Asset Quality For
Commercial Banks
- OJK Regulation Number
63/POJK.03/2020

Report on Anti-Fraud OJK Regulation Number All CCBs and SCBs

Strategy 39/POJK.03/2019
concerning
Implementation of
Anti-Fraud Strategy For
Commercial Banks

Report on Risk-Based OJK Circular All CCBs

Weighted Asset Letter Number 6/
(RBWA) for Operational SEOJK.03/2020
Risk concerning Calculation
of Risk-Based
Weighted Asset for
Operational Risk Using
Standard Approach for
Commercial Banks

Report on Requirement OJK Regulation Number All CCBs

To Meet Leverage Ratio 31/POJK.03/2019
concerning Requirement
To Meet Leverage Ratio
For Commercial Banks
Reporting on Prime OJK Circular Letter All CCBs
Lending Rate Number 34/
SEOJK.03/2017
concerning Transparency
of Information on Prime
Lending Rate
 Appendices Page

226

Type of Report Related Regulations FSI’s that are Obliged to Report

Reports :
a. Reporting of - OJK Regulation Number CCBs, SCBs, SBUs
Asset Quality and 63/POJK.03/2020
Establishment concerning Commercial
of AAWO in Bank Reporting
Consolidated through Otoritas Jasa
Manner – CCBs Keuangan’s Reporting
b. Condensed Report System
c. Report on Legal - OJK Circular Letter
Lending Limit Number 26/
and Extensions of SEOJK.03/2020
Large Funds concerning Conventional
d. Report on Credit Commercial Bank
Restructurings Reporting through
e. Report on Otoritas Jasa
Restructured Keuangan’s Reporting
Financing in System
Reporting Month - OJK Circular
f. Report on Letter Number 27/
Sensitivity to SEOJK.03/2020
Market Risk – concerning Sharia
Interest Rate Commercial Bank
g. Report on and Sharia Business
Custodian Unit Reporting
Activities through Otoritas Jasa
h. Reporting of Keuangan’s Reporting
Activities Related System
to Foreign
Financial Product
Agency
i. Report on
Bancassurance
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Type of Report Related Regulations FSI’s that are Obliged to Report

j. Report on Bank
Activities as
Mutual Funds
Securities Selling
Agent
k. Reporting on
Outstanding
Structured
Product
Transactions
l. Report on Bank
Business Plan
m. Report on
Indonesian
Banking HR
n. Report on Office
Network

GLOSSARY OF BANK
PERFORMANCE INDICATORS
NO. Terminology Explanation
1. Capital Adequacy Ratio Capital adequacy ratio obtained from calculation
(CAR) (capital / RBWA) x100%. RBWA = Risk-Based
Weighted Assets.
2. Return on Asset (ROA) One form of profitability ratios for measuring a
company’s capability to generate profits against
the average total assets owned by a bank.
3. Operational Cost over Efficiency measurement based on the ratio of
Operational Income (OCOI) operational cost to operational income.
4. Net Interest Margin (NIM) It is an indicator of bank profitability obtained
from the ratio of Net Interest Income to the
average Total Earning Assets (BI CL Number
13/24/DPNP dated 25 October 2011).
 Appendices Page

228

NO. Terminology Explanation

5. Net Operation (NOM) It is an indicator of profitability for Islamic
Banking which is measured by the ratio between
funds channeling income after yield sharing
and then deducted by operational costs to the
average earning assets.

6. Cash Ratio (CR) Comparison between liquid assets and current

liabiities as stipulated in the provisions
of legislations governing the assessment
procedure for the soundness level of RBs and the
assessment system for the soundness level of
RBs based on sharia principles (OJK Regulation
Number 19/POJK.03/2017 concerning RB and
SRFB Determination of Status and Supervision
Follow Up).

7. Non Performing Loan The portions of credit/financing which quality

(NPL) atau Non Performing are of substandard, doubtful, or non-performing
Finance (NPF) Gross categories as referred to in the provisions
of legislations regarding the assessment
of commercial bank asset quality and OJK
regulation regarding the assessment of the
quality of assets of sharia commercial banks
and sharia business units over total credit.

8. Non Performing Loan The portions of credit/financing which quality

(NPL) atau Non Performing are of substandard, doubtful, or non-performing
Finance (NPF) Net categories after being deducted with Reserve for
Losses from Value Impairment (RLVI) over total
credit

9. Loan to Deposit Ratio (LDR) The ratio of credit/financing extended to third

atau Finance to Deposit parties in Rupiah and foreign currencies,
Ratio (FDR) excluding credit to other banks, over third party
funds, which include giro (demand deposits),
savings deposits and term deposits in Rupiah
and foreign currencies, excluding interbank
funds (BI Regulation Number 15/15/PBI/2013).
Page Indonesia Banking
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229
Department of Banking Licensing
and Information
INDONESIA FINANCIAL SERVICES
AUTHORITY (OJK)
Menara Radius Prawiro
Kompleks Perkantoran Bank Indonesia
Jl. M.H. Thamrin No 2 Jakarta Pusat
Layanan Kontak OJK 157
www.ojk.go.id