Based on Decision No. 18/PUU-XVII/2019, fiduciary security certificates do not now automatically have executorial titles, while defaults relating to the execution of fiduciary agreements must either be based on the consent of both debtor and creditor or based on a court decision confirming the defaults.

Debt securities and/or sharia bonds (efek bersifat utang dan/atau sukuk) may be issued by the following parties without the need for any public offerings: 1) Issuers (emiten) or public companies; 2) Indonesian business entities or legal entities other than the above; 3) Supranational institutions; or 4) Collective investment contracts

Financial institutions or sharia/conventional credit unions (koperasi simpan pinjam) may extend peoples business credit to certain types of businesses operating within the tourism sector, on condition that: 1) The businesses are classified as micro-scale or small-scale enterprises, or are established as a business group that meets certain criteria; 2) The businesses are located within 10 priority tourism destinations and/or 88 nationally strategic tourism sites, or in other locations, as determined by the Minister of Tourism

While essentially addressing similar areas as the Previous Regulation, Regulation 63/2019 sets out a significantly more comprehensive framework which tackles a number of aspects which were not regulated under the Previous Regulation, particularly investments which involve shares and/or bonds (e.g. the appointment of investment managers and the opening of accounts at custodian banks) as a focus for future government investment

Primary parties of Non-Banks who fail to pass the reassessment process will be prohibited from occupying certain positions and/or from holding shares in the relevant Non-Banks

Negligence by the Primary Parties may also cause them for not passing the reassessment procedures, given that such negligence ultimately led to the occurrence of violations and/or non-compliances

The minimum purchase offer for Government Bonds (SUN) has now been lowered, namely: 1) IDR 250 billion, for SUN in the IDR currency; and 2) USD 25 million, for SUN in foreign currencies

Bank Indonesia increased the maximum and minimum thresholds for the target Macro-Prudential Intermediation Ratios (RIM) from 80-92% to 84-94%, giving banks more flexibility in disbursing credits and financing

Setting out the standards relating to the various activities of securities brokers for bonds and sharia bonds

With the ultimate goal of avoiding the imposition of double taxation upon foreign-sourced income (Foreign Income), the Minister of Finance (Minister) has issued Regulation of the Minister No. 192/PMK.03/2018 on the Implementation of Tax Credits for Foreign-Sourced Income.