#Finance
Citibank Indonesia and Coca-Cola Europacific Indonesia signed MoU for a sustainable supply chain finance
Citibank, N.A. Indonesia (Citi Indonesia) has signed a collaboration agreement with Coca-Cola Europacific Partners Indonesia (CCEP Indonesia) to implement a sustainable supply chain finance (SSCF) program, amounting to approximately US$ 30 million (IDR 470.95 billion) with a 90-day tenor.
Indonesian government plans to implement carbon tax starting on 2024
The Indonesian carbon exchange has been officially launched on September 26, 2023. However, the implementation of the carbon tax will not come into effect until 2024.
KPPU investigates suspected interest rate-fixing practice in online lending sector
The Business Competition Supervisory Commission (KPPU) has initiated an investigation into allegations interest rates fixing practicing on loans provided by online lenders to borrowers.
OJK to regulate dividend distribution in banks
The Financial Services Authority (OJK) intends to regulate the mechanisms of profit distribution and dividend sharing among banks. OJK noted that the dividend payout ratio provided by the national banking industry to shareholders has been excessively high. Ideally, banks should prioritize allocating profits to strengthen their capital.
Mining businesses express concerns over mandatory foreign exchange placement in domestic bank
Coal mining businesses are expressing their concerns about the government's new policy regarding the foreign exchange export earnings (DHE) regulations.
Bank Indonesia continues progress on digital rupiah, focusing on concept and unveils its roadmap
Bank Indonesia (BI) ensured that the Garuda Project or digital rupiah currency is still on-progress. Currently, Bank Indonesia is in the process of finalizing proof of concept documents for digital rupiah and establishing a roadmap.
Bank Indonesia's new export regulation bolsters national economy and reduces foreign debt dependency
Bank Indonesia (BI) imposed a new regulation on foreign reserves originated from exports (Devisa Hasil Export - DHE) in accordance with Presidential Regulation No. 36 of 2023 concerning rules requiring exporters of natural resources to deposit 30% of their foreign exchange domestically.
Bank Central Asia suffers massive data leak exposing 6.4 million customer records
Six million customers' data were leaked from PT Bank Central Asia Tbk (BBCA)'s MyBCA application database by hackers.
QRIS raises the bar on competition between digital wallets and banks
The competition in the digital wallet (e-wallet) industry is entering a new phase. The introduction of the Quick Response Code Indonesian Standard (QRIS) payment system is making the competition landscape more complex, as this instant payment feature is also being developed by banks.
Bank Indonesia announces progressive rates for QRIS transaction fees, boosting digital economy and financial inclusion for micro traders
Bank Indonesia (BI) will impose progressive rates on the Quick Response Code Indonesian Standard (QRIS) for transaction fees for micro traders.
Government obliges exporters to deposit foreign exchange earnings domestically for 3 months at least
The government is preparing several implementing regulation for Government Regulation No. 36 of 2023 concerning Foreign Exchange from Natural Resources Exports (DHE) (PP 36/2023), which replaces Government Regulation No. 1 of 2019.
Government plans debt write-off for small-medium enterprises
President Joko Widodo recently led a closed-door meeting to discuss the restructuring of credits for Micro, Small, and Medium Enterprises (MSMEs).