Draft Bill on Banking

a.

Activities of commercial banks[1] and rural banks[2] (collectively “Bank”);

b.

Basic provisions on the establishment of Banks, covering form of legal entity, licensing procedures, and ownership requirements;

c.

Obligations of Banks to meet certain safety and soundness requirements;

d.

Requirements for Bank executive officers (board of directors, commissioners), shareholders, and employees;

e.

Basic principles governing banking industry (good corporate governance, prudence, efficiency, risk management, and bank secrecy);

f.

 Authority of the Financial Service Authority (“OJK”) and Bank Indonesia (“BI”) to supervise Bank activities;

g.

Consumer protection; and

h.

Sanctions for non-compliance.