Report on the Implementation of GCG by Financing Companies

The Financial Services Authority (“OJK”) has issued Circular Letter No. 15/SEOJK.05/2016 on Good-Corporate-Governance Implementation Reporting by Financing Companies (“OJK Circular Letter”).
 
The OJK Circular Letter sets out further guidance for conventional and sharia-based financing companies (“Financing Company”) to prepare reports on the implementation of the good-corporate-governance (“GCG”) principle, as mandated by OJK Regulation No. 30/POJK.05/2014 on Good Corporate Governance for Financing Companies (“OJK Regulation”).[1] These reports should reflect of three areas, namely: