Reforming Indonesia’s insurance sector

The Indonesian Financial Services Authority (abbreviated in Indonesian as “OJK”) sets four focuses to reform of non-bank financial institutions. The planned reforms will be done amid liquidity problems suffered by three insurance companies (Jiwasraya, AJB Bumiputra, and Asabri) as the effect of failures in financial investment. The liquidity problems create huge potential losses for the…

Pelaporan.id: an integrated Indonesian banking reporting

Banking reporting in Indonesia soon will be integrated following the agreement between Bank Indonesia (BI), the Indonesian Financial Services Authority (OJK), and Deposit Insurance Corporation (LPS) to launch a portal mechanism known as Pelaporan.id, commencing from December 31, 2019. The integrated reporting was developed to minimize redundant and inconsistent information and as a mandate of…