OJK Prepares to Redefine Scope of Mandatory BPR and BPRS Reports

The Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) is currently preparing a Draft Regulation (“Draft Regulation”) on Reporting by Rural Banks (Bank Perkreditan Rakyat – “BPR”) and Sharia Rural Banks (Bank Perkreditan Rakyat Syariah – “BPRS”) through the Financial Services Authority Reporting System (“Reporting System”). If the Draft Regulation ultimately comes into force, then it will repeal and replace Regulation of the OJK No. 13/POJK.03/2019, which bears the same title as the Draft Regulation (“Regulation 13/2019”).[1]