Merged Sharia Bank Takes Shape

Hery Gunardi will oversee the merger process of the state-owned Islamic banks. The merged bank will become one of the ten largest Islamic banks in the world in terms of market capitalization.

Opening Door for Foreign Investment in Insurance Market

Indonesia will ratify seventh protocol of ASEAN Framework Agreement on Service (AFAS) in financial service sector. This regulation will ease foreign investors to expand to insurance market, which hopefully boosting sharia insurance growth.

Govt Expands Credit Subsidy: What Is the Impact?

Finance Ministerial Regulation (PMK) No. 138/2020 expands the recipients of credit subsidies, from mortgage loan (KPR) to automotive loan (KKB) consumers to boost sluggish consumption and turnovers of several industries.

Why Are Corporate Debtors Not Asking for Loans Anymore?

Big debtors such as PLN, GGRM, and INDF have recorded debit balance decreases by up to Rp 61.2 trillion in total as of August 2020. It means that corporations are holding back expansion plans or looking for more affordable sources of funding

Foreign Companies Queue to Enter Indonesian Payment System

The UK-based digital payment provider, PPRO, entered the Indonesian market through strategic collaboration with DOKU and OVO. WeChat Pay also officially operates in Indonesia after teaming up with CIMB Niaga.

BI’s Banking Supervisory Authority: The Explanation

The Coordinating Maritime Affairs and Investment Minister, Luhut Binsar Pandjaitan, reveals that the three underperforming banks have forced the government to hand over the banking supervision to Bank Indonesia (BI).