Category: Information Technologies

Types of Business Activities Covered by Web Portal

“As a relatively recent business field in Indonesia, the operation of Web Portal has not been thoroughly or specifically regulated. However, considering the enormous scope of the business field, multiple laws and regulations apply to the business field of Web Portal by inference.” In Indonesia, business fields are regulated in a standard classification. In an […]

Electronic Licensing in the Financial Services Sector

“Financial Services Authority (Otoritas Jasa Keuangan or “OJK”) has issued Regulation No. 26/POJK.01/2019 concerning Electronic Licensing within the Financial Services Sector (“POJK 26/2019”) on 28 October 2019 to undergo the licensing process electronically through an integrated licensing portal.” Prior to electronic licensing, the licensing procedure for financial services was conducted differently for each type of […]

An Update on Electronic System Provider (PSE)

“The Ministry of Communication and Information issued Government Regulation No. 71 of 2019 on Electronic System and Transaction Operation (“PP 71/2019”) which made some crucial changes regarding the mandatory registration for both public and private sector, data centre, and right to be forgotten. PSE (Penyelenggara Sistem Elektronik) or Electronic System Provider refers to every person, […]

Implementation OSS Version 1.1

“OSS Version 1.1 improves the system including the ability to process water location permit and ocean location permit, register KPPA (general representative office), revocation of license for a non-liquidation reason, arrange issuance branch office administration registration, submit LKPM, and arrange business license for Merger. The new version will be implemented by 11 November 2019.” In […]

Types of Financial Technology Industry in Indonesia

“The term Fintech has been confirmed to be financial services that are innovative, tech-based, and beneficial to the currently existing financial services and the public in general.” Fintech is an acronym of Financial Technology. Technically speaking, the term encompasses any technology that seeks to improve financial services, such as mobile payments, crowdfunding platforms, and many […]

Legal Due Diligence For E-Money License Application?

However, PBI 20/06/2018 also specifically mentioned that aside from the representation and warranties from the board of director, applicants are also obliged to enclose a professional statement (Legal Opinion) from an independent and professional legal consultant (“Lawyer”), based on the results of their Legal Due Diligence (“LDD”) to the applicant company as required.