Bank Indonesia re-regulates e-money
Related people
Sugianto Osman
Partner, Ginting & Reksodiputro in association with Allen & Overy
Jakarta
Harun Reksodiputro
Partner, Ginting & Reksodiputro in association with Allen & Overy
Jakarta
Riandi Apriliansyah
Associate, Ginting & Reksodiputro in association with Allen & Overy
Jakarta
15 May 2018
In response to the vast growth in technological innovations and the tendency of businesses to integrate in order to create business ecosystems, Bank Indonesia has issued a new Electronic Money Regulation.
It seeks to anticipate the risks associated with the e-money business by implementing risk management and security standards, and increasing supervision over e-money business players. The foreign ownership limits introduced by the Regulation are arguably the most crucial point in the Regulation, and may cause Providers to restructure their e-money businesses.