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

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Bank of Indonesia regulation 18/40/PBI/2016 (in Bahasa Indonesia)
http://www.bi.go.id/id/peraturan/sistem-pembayaran/Documents/PBI_184016.pdf

Inception date: 09 Nov 2016 | Removal date: open ended
Still in force

FDI: Entry and ownership rule

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.

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A