Draft Bill on the Omnibus Law for the Financial Sector: Optimal Handling of Banking Issues

As calls to reform Indonesia’s financial sector continue to grow, the government is currently preparing to pass the Draft Bill on the Handling of Banking Issues, the Strengthening of Coordination Between Financial-Sector Institutions and the Restructuring of the Authorities of Financial-Sector Institutions (“Draft Bill”) and with this goal in mind, the bill has been included on the 2021 Priority National Legislative Program.[1] The Draft Bill itself is designed to update and synchronize existing regulatory frameworks that apply within the financial sector, specifically as they relate to the following:[2]