Jumat, Januari 20, 2023

OJK Adjusts Provisions on Monthly BPRS Reports

In order to reaffirm the obligation of Sharia Rural Funding Banks (Bank Pembiayaan Rakyat Syariah – "BPRS") to submit monthly organizational reports, the Financial Services Authority (Otoritas Jasa Keuangan – "OJK") recently issued Circular No. 3/SEOJK.03/2023 on the Monthly Reports of Sharia Rural Funding Banks ("Regulation 3/2023"). Regulation 3/2023 in an effort to reaffirm the obligation of BPRS to submit monthly reports that address their operations via the OJK Reporting System.
In general, the adjustments that have now been introduced under Regulation 3/2023 can be summarized as follows: 1) Adjustments to the existing form for Office-Based Reports and Consolidated Reports; and 2) Additional forms for Office-Based Reports and Consolidated Reports.
In terms of additional forms for Office-Based Reports, Regulation 3/2023 has added two new forms in relation to the following matters: 1) Data on Office Treasury and the Service Activities of BPRS Treasuries; and 2) Data on Office Treasury Closures and the Activities of BPRS Treasuries.
Meanwhile, in terms of Consolidated Reports, the additional forms include the following, among others: 1) Data on BPRS Branch Office Closures; 2) Data on the Types of BPRS Clients and Fund Gathering Products; 3) Details of Transactions That Relate to Risk Evaluations for the Crimes of Money Laundering and Terrorism Funding.
The new provisions set out under Regulation 3/2023 are set to come into force on 1 February 2023 for reports that address January 2023 positions.

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In order to reaffirm the obligation of Sharia Rural Funding Banks (Bank Pembiayaan Rakyat Syariah – "BPRS") to submit monthly organizational reports, the Financial Services Authority (Otoritas Jasa Keuangan – "OJK") recently issued Circular No. 3/SEOJK.03/2023 on the Monthly Reports of Sharia Rural Funding Banks ("Regulation 3/2023"). Regulation 3/2023 in an effort to reaffirm the obligation of BPRS to submit monthly reports that address their operations via the OJK Reporting System.
In general, the adjustments that have now been introduced under Regulation 3/2023 can be summarized as follows: 1) Adjustments to the existing form for Office-Based Reports and Consolidated Reports; and 2) Additional forms for Office-Based Reports and Consolidated Reports.
In terms of additional forms for Office-Based Reports, Regulation 3/2023 has added two new forms in relation to the following matters: 1) Data on Office Treasury and the Service Activities of BPRS Treasuries; and 2) Data on Office Treasury Closures and the Activities of BPRS Treasuries.
Meanwhile, in terms of Consolidated Reports, the additional forms include the following, among others: 1) Data on BPRS Branch Office Closures; 2) Data on the Types of BPRS Clients and Fund Gathering Products; 3) Details of Transactions That Relate to Risk Evaluations for the Crimes of Money Laundering and Terrorism Funding.
The new provisions set out under Regulation 3/2023 are set to come into force on 1 February 2023 for reports that address January 2023 positions.

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