Branchless Banking Services

To ensure that every Indonesian citizen have access to banking and other financial services, the Financial Services Authority (“OJK”) had issued Regulation No. 19/POJK.03/2014 on Branchless Banking Services under the Inclusive Financial Framework (“Regulation”).[1]

The Regulation sets out a guideline that allows the operation of branchless banking and/or other financial services, and is relevant to banks and non-bank financial institutions, including insurance or reinsurance companies, the capital market, pension fund companies, and financing companies.[2]