ANNOUNCEMENT 09 Nov 2016
On 9 November 2016, the Indonesian national bank issued regulation 18/40/PBI/2016 on electronic payment services.
NUMBER OF INTERVENTIONS
Bank of Indonesia regulation 18/40/PBI/2016 (in Bahasa Indonesia)
The regulation introduces a foreign ownership cap of 20%, since, according to article 5(2), electronic payment service companies have to be at least owned to 80% by Indonesian citizens or Indonesian legal entities. Previously, no foreign ownership restrictions for this sector were in place.