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Since being regulated and supervised by the Financial Services Authority (Otoritas Jasa Keuangan/“OJK”), more precisely in 2016, the development of the information technology-based lending and borrowing service industry or commonly known as Fintech P2P Lending has recorded very significant growth. Therefore, along with its very fast development, as well as accommodating the demands of the…

Commercial banks are subject to various obligations that relate to different activities that involve the organization of IT within their institutions. Said banks obligations are divided into different areas, specifically: IT management, IT architecture, risk management, cyber defense and security, data processing and personal data protection. In response to increasing levels of operational risk in…

Dear Valued Clients and Colleagues, We are delighted to announce that Assegaf Kawilarang & Associates has been awarded as Rising Star Non-Litigation Law Firm of the Year by Hukumonline* at the Hukumonline’s Top 100 Indonesian Law Firms 2022 Awards Night. Rising Star Law Firm of the Year is one of the new categories of law…

On 12 July 2022, Indonesian government has enacted Government Regulation Number 24 of 2022 on the Implementing Regulation of Law Number 24 of 2019 on Creative Economy (“GR 24/2022”). As the title suggests, GR 24/2022 serves as the implementing regulation for Law Number 24 of 2019 on Creative pEconomy (“Law 24/2019”). GR 24/2022 will come…

Re-evaluating the Benefits of Contract-Based Employment, or Lack Thereof Under Indonesian employment law, employment may be established in the form of contract-based employment (perjanjian kerja waktu tertentu/PKWT) or permanent employment (perjanjian kerja waktu tidak tertentu/PKWTT). For years, many employers have shown certain preference to the contract-based employment over permanent employment, citing the lighter obligations imposed…

As of 1 July 2021, Bank of Indonesia (“BI”) Regulation Number 22/23/PBI/2020 of 2020 on Payment System (“PBI 22/2020”) which was issued on 30 December 2020 has officially become effective. Henceforth, PBI 22/2020 shall serve as the umbrella regulation of Indonesia’s payment system. PBI 22/2020 is expected to bring much-needed reformation in the payment system…

Following the enactment of Bank of Indonesia (“BI”) Regulation Number 22/23/PBI/2020 of 2020 on Payment System (“PBI 22/2020”) which has become effective as of 1 July 2021, BI has issued BI Regulation Number 23/6/PBI/2021 on Payment System Providers (“PBI 23/6/2021”) as the implementing regulations regarding payment system providers under the framework of the new payment…

As of 1 July 2021, Bank of Indonesia (“BI”) Regulation Number 22/23/PBI/2020 of 2020 on Payment System (“PBI 22/2020”) which was issued on 30 December 2020 has officially become effective. Henceforth, PBI 22/2020 shall serve as the umbrella regulation of Indonesia’s payment system. PBI 22/2020 is expected to bring much-needed reformation in the payment system…

As an effort to boost investment and to improve business activities, Indonesia implements risk-based business licensing through the enactment of Law Number 11 of 2020 on Job Creation (“Job Creation Law”) on 2 November 2020. Risk-based business licensing was first introduced by the Job Creation Law and throughout the past few months, successive implementing regulations…

Enactment of New Government Regulation  Sheds Clarities on Employment Issues  On 2 February 2021, Indonesian government enacted Government Regulation Number 35 of 2021 on Contract-Based Employment, Outsourcing, Working Time and Resting Period, and Employment Termination (“GR 35/2021”). Enactment of GR 35/2021 is mandated under Law Number 11 of 2020 on Job Creation (“Job Creation Law”)…