Banks in Indonesia are subject to bank secrecy/confidentiality obligations grounded in the Banking Law, which requires banks and their affiliates to keep confidential information regarding its depositing customersas well as any sum depositedby such customers.
The Indonesian Minister of Communication and Informatics (MOCI) issued Regulation No. 20 of 2016 regarding the Protection of Personal Data in Electronic Systems (MOCI Reg. 20) to regulate the protection of personal data by electronic system providers in Indonesia.
SSEK's Michael S. Carl recently provided updates to audiences in Tokyo on banking, insurance and financial technology regulation in Indonesia, and on non-cash payment transaction processing in Indonesia.
On August 31, Indonesian President Joko Widodo enacted the 16th economic reform package aimed at improving the ease of doing business in the country. This new economic policy package contains measures to accelerate the issuance of business licenses and permits at the central and regional levels.
According to the Annual Report of the Corruption Eradication Commission (Komisi Pemberantasan Korupsi or KPK), the KPK carried out 96 examinations, 99 investigations and 76 prosecutions last year. Seventy cases were decided and received final and legally binding judgments.
SSKE's Fahrul S. Yusuf has contributed the Indonesia chapter to The Legal 500 Technology Country Comparative Guide. The guide provides a pragmatic overview of technology law across a variety of jurisdictions.
The Indonesian Minister of Energy and Mineral Resources has issued a regulation to improve the supervision of business entities in the energy and mineral resources sector in part by closing regulatory gaps.