- The Minister of Manpower ("Minister") has issued Decree No. 20 of 2024 ("Decree 20/2024") on the Stipulation of Indonesian National Work Competency Standards (Standar Kompetensi Kerja Nasional Indonesia – "SKKNI") for the Financial and Insurance Activities Category of the Financial Services Support Activity Group, Non-Insurance and Pension Funds Within the Capital-Market Sector (collectively referred to as "Financial Business Sectors"), which has been in force since 22 January 2024.
- A total of 80 competencies have been set under the Appendix to Decree 20/2024, which should be utilized as a reference by certain parties operating within various financial business sectors in relation to the following activities: 1) Preparation of national qualification levels; 2) Organization of education; 3) Training; and 4) Competence certification. In this regard, the implementation of SKKNI and the preparation of national qualification levels will be stipulated by the Chairman of the Board of Commissioners of the Financial Services Authority (Otoritas Jasa Keuanganan/OJK) and/or related ministries/technical institutions in accordance with their various duties and functions.
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