#Finance
OJK plans to increase minimum paid-up capital requirement for insurance companies
The Financial Services Authority (OJK) is set to introduce new regulations regarding the minimum capital requirements for insurance and reinsurance companies, both conventional and Sharia-compliant.
BI introduces fees for QRIS merchants despite the downsides it may cause
Bank Indonesia (BI) began to set a service fee for transactions using the Indonesian Standard Quick Response Code (QRIS) at 0.3% which took effect on July 1, 2020. The extra fee is imposed on micro-scale businesses and merchants (UMI) instead of buyers.
Risk of greenwashing increases as environmentally-conscious projects flourish
The practice of greenwashing poses a threat amidst the trend of green or environmentally-conscious financing. Many asset management companies and banks enhance their image as providers of green financing in order to attract new customers.
Minister Erick Thohir inaugurates SOEs joint office in Hong Kong as Indonesian Business Hub
Minister of State-Owned Enterprises (SOE), Erick Thohir, is set to launch Indonesia Incorporated (Inc). This reflects the commitment from the beginning to continuously drive state-owned enterprises to go global.
Bank Indonesia to integrate cross-border payment systems with Singapore via QRIS by the end of 2023
Bank Indonesia (BI) will be integrating cross-border payment systems with the Quick Response Code Indonesian Standard (QRIS) network with Singapore at the end of 2023.
Bank Indonesia ready for rupiah redenomination despite experts warn of economic risks and challenges
Bank Indonesia (BI) expressed its readiness to redenominate the Rupiah. Despite this, there are dangers of redenomination of the economy if not prepared. Several experts have shed light on the issue.
Grab stocks plummets amidst massive layoff
Grab, the Singapore-based decacorn, has made the difficult decision to initiate another round of layoffs, affecting over 1,000 employees and resulting in plummeting stocks.
Government faces growing challenge of illegal imports as HIPMI urges action
The Ministry of Trade had reported a growing prevalence of illegal imports. In 2022, the estimated value of illegal imports reached IDR 214.7 billion, a significant increase compared to IDR 9.6 billion in 2021, IDR 7.4 billion in 2020, and IDR 29 billion in 2019.
Top provinces with highest investment realization in Indonesia
The Investment Ministry recorded that the investment realization in Indonesia throughout 2022 had reached IDR 1,207.2 trillion, a 34% increase compared to the previous year (year-on-year/yoy).
Striking the balance: Criticism of government incentives for the IKN project
The pursuit of the new capital city project in East Kalimantan, also known as the IKN project, has been met with caution by a public policy observer from Trisakti University Trubus Rahadiansyah.
Government approves an extra IDR 15 trillion budget to boost IKN development
The House of Representatives’ Budget Agency has given its approval for an extra IDR 15 trillion (US$1.01 billion) for the Nusantara Capital City (IKN) development.
Google initiative aims to foster AI technology development and resources for startups
Google has unveiled its Google for Startups Cloud Program, which promises to provide a substantial financial boost to Indonesian startups employing artificial intelligence (AI) technology.