Rabu, Juli 1, 2015 | Issue Number : 2674

New Provision on the Establishment of Rural Bank

The Financial Services Authority (“OJK”) has issued Circular Letter No. 16/SEOJK.03/2015 on Rural Bank (“2015 Circular”).

The 2015 Circular Letter redefines the basic provisions of rural bank, covering:

a.	Establishment requirement and procedure;
b.	Capital ownership;
c.	Requirement and procedure to appoint board of directors, commissioners and executive officers;
d.	Office establishment;
e.	Procedure to provide Automated Teller Machine (ATM) or debt card facility; and
f.	Mandatory report to OJK.

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*Syarat dan ketentuan berlaku

The Financial Services Authority (“OJK”) has issued Circular Letter No. 16/SEOJK.03/2015 on Rural Bank (“2015 Circular”).

The 2015 Circular Letter redefines the basic provisions of rural bank, covering:

a.	Establishment requirement and procedure;
b.	Capital ownership;
c.	Requirement and procedure to appoint board of directors, commissioners and executive officers;
d.	Office establishment;
e.	Procedure to provide Automated Teller Machine (ATM) or debt card facility; and
f.	Mandatory report to OJK.

......