Indonesia

Indonesia

Issuing new regulation on payment systems

01 Jul 2021

On 29 December 2020, Indonesia's central bank, Bank Indonesia, issued regulation No.22/23/PBI/2020. This regulation introduced new requirements with regard to share ownership and capital, which could impact foreign investors in the payment services industry. The Regulation requires a minimum 15% Indonesian shareholding, with 51% of the voting rights to be held by Indonesian investors in a non-bank Payment Services Provider. Furthermore, a new business that is categorized as a non-bank Payment Services Infrastructure Provider, including a provider of clearing and settlement services, must now have a minimum of 80% Indonesian shareholding, with 80% of the voting rights to be held by Indonesian investors. The regulation will be applicable from 1 July 2021.

Nature of measure:
  • Entry restriction
Type:
  • Entry and establishment (Ownership and control)
Industry:
  • Services (Financial and insurance activities)
Inward FDI:
No
Outward FDI:
No
Sources: