Who regulates the banks in Indonesia?

Who regulates the banks in Indonesia?

the OJK
Since 2013, the OJK, by virtue of Law No. 21 of 2011, took over the regulatory and supervisory governmental functions in the financial services sector, including banking, from the BI, and becoming the primary regulatory authority responsible for overseeing banks.

Who are the 4 main regulators of finance sector?

Responsibility for the regulation and supervision of the Australian financial system is vested in four separate agencies:

  • the Australian Prudential Regulation Authority (APRA);
  • the Australian Securities and Investments Commission (ASIC);
  • the Reserve Bank of Australia (RBA); and.
  • the Australian Treasury.

Who is a regulator of banking system?

The primary banking regulator in India is the Reserve Bank of India (RBI). The RBI has wide-ranging powers to regulate the financial sector.

Who regulates banks in the world?

National banks must be members of the Federal Reserve System; however, they are regulated by the Office of the Comptroller of the Currency (OCC). The Federal Reserve supervises and regulates many large banking institutions because it is the federal regulator for bank holding companies (BHCs).

What are the banking laws and regulations in Indonesia?

Back to top. Banking business in Indonesia is primarily governed by Law No. 7 of 1992 as amended by Law No. 10 of 1998 and its implementing regulations. Originally, the Indonesian central bank, known as Bank Indonesia (“BI”), had the function and authority to regulate and supervise the banking industry in Indonesia.

Who are the members of Financial Services Authority ( Indonesia )?

Bank Members of Financial Services Authority (Indonesia) 1 Bank Mandiri 2 Bank Central Asia 3 Bank Negara Indonesia 4 Bank Bukopin 5 Bank Rakyat Indonesia 6 Bank Permata 7 Bank Mega 8 Bank Nobu 9 Bank Danamon 10 Bank OCBC NISP

What is the name of the bank in Indonesia?

Originally, the Indonesian central bank, known as Bank Indonesia (“ BI ”), had the function and authority to regulate and supervise the banking industry in Indonesia.

When is new bi regulation on payment system?

To catch up with the digital development and innovation, Bank Indonesia issued a new regulation on 29 December 2020, i.e. Bank Indonesia Regulation Number 22/23/PBI/2020 on Payment System (Reg 22 ). Even though it was issued in 2020, Reg 22 will only be effective on 1 July 2021.