OJK Introduces Electronic Platform for Licensing within the Financial Services Sector

In a bid to establish a more effective licensing system within the financial services sector, the Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) has issued Regulation No. 26/POJK.01/2019 on Electronic Licensing within the Financial Services Sector (“Regulation 26/2019”) Which introduces a more reliable and transparent electronic system that will integrate all of the licensing processes within the financial services sector under a single framework.[1] In essence, Regulation 26/2019 addresses the following specific matters: