Rural banks, rural sharia financing banks and general insurance companies are now required to submit reports on financial information relating to certain types of financial accounts to the Director-General of Tax for the purpose of automatic exchanges of financial information

A three-business-day window now has been set for Financial Service Providers (PJK) to provide administered data, information and/or documents to the Financial Services Authority (OJK) and/or other competent authorities upon an official request

Financial obligations which are now being guaranteed by the government also include the fines and rewards incurred in relation to loan or financing agreements, not only the principal amount of any loans or financing facilities and the interests

By coordinating with the Financial Services Authority (Otoritas Jasa Keuangan) and the Indonesian Deposit Insurance Corporation (Lembaga Penjamin Simpanan), BI has developed an integrated, metadata-based reporting system for commercial banks

LPS will be entitled to receive the entirety of any proceeds which are generated during the sale of shares in any Bridge Banks

Any parties who use QR Codes will be required to adjust their QR Code usage modes in accordance with Regulation 18/2019 by no later than 31 December 2019

There are three dispute settlement mechanisms available under this Draft Regulation, including: 1) Limited facilitation; 2) Facilitation; and 3) Consultation

Non-Bank Reporters have to submit monthly LLD reports online to BI by the 15th day of the month following the relevant month being reported at the latest

Foreign-exchange export proceeds deriving from exports of natural resources (DHE-SDA) must be recovered by local banks through special DHE-SDA accounts

Regulation 12/2019 aims to establish a more effective and efficient regulatory framework for the submission of reports by commercial banks