INDONESIA: Inter-State Letters Rogatory and Delivery of Court Documents

Reading Time: 2 minutesOn 20 February 2018, the Supreme Court and Ministry of Foreign Affairs (“MFA”) concluded a Memorandum of Understanding regarding the Handling of Requests for Technical Assistance in Civil Matters (“2018 MOU”). This new MOU replaces the previous MOU signed on 13 February 2013 (“2013 MOU”). Unlike the 2013 MOU, the 2018 MOU is supported with […]

INDONESIA: Digital Financial Innovation Regulation – New Era of a Dynamic Digital Economy

Reading Time: 4 minutesIn order to support innovations in the financial technology sector at its current expeditious pace, the Financial Services Authority (Otoritas Jasa Keuangan – “OJK”) has implemented a ground-breaking regulatory policy through OJK Regulation No. 13/POJK.02/2018 concerning Digital Financial Innovation in the Financial Services Sector (“OJK Regulation 13/2018”). This long-awaited regulation aims to provide a regulatory corridor […]

Indonesia: Churchill Mining PLC v. Republic of Indonesia: ICSID Annulment Committee’s Decision Favors Indonesia

Reading Time: 4 minutesBACKGROUND On 18 March 2019, in the case of Churchill Mining Plc And Planet Mining Pty Ltd v Republic Of Indonesia, the ICSID Annulment Committee (“Committee”) has dismissed Churchill Mining PLC and Planet Mining PTY LTD’s[1] (“Applicants”) application to annul the award rendered on 6 December 2016. The dispute arose due to the revocation of […]

Indonesia Legal Alert: A Regulatory Pole Vault for the Indonesian Crypto-Industry

Reading Time: 2 minutesFebruary 2019 was a tumultuous month for the Indonesian crypto-industry with the introduction of regulations that impose staggering thresholds for minimum capital and closing balance requirements among other stringent qualifying criteria for Crypto Asset Exchanges, Custodians, Clearing Agencies and Traders. The regulatory rationale advanced by Indonesia’s Commodity Futures Trading Supervisory Authority, “Bappebti” is that in […]

INDONESIA: Payment Transaction Processing Framework-Introduction from Our Perspective (Part 1)

Reading Time: 10 minutesOn 14 November 2016 Bank Indonesia (“BI”), the Central Bank governing body in Indonesia, issued the Bank Indonesia Regulation No. 18/40/2016 concerning Framework of Payment Transaction Processing (Peraturan Bank Indonesia Nomor 18/40/2016 Tahun 2016 tentang Penyelenggaraan Pemrosesan Transaksi Pembayaran / “BI Regulation 18/2016”). We applaud the efforts made by BI to respond efficiently, swiftly and […]