“The aspect of control in Remittance Service Company activities it must be held by domestic shareholder.” Under Article 2 letter Bank Indonesia (“BI”) Regulation No. 23/6/PBI/2021 of 2021 on PJP (“BI Reg 23/2021”), Remittance Service is included within the scope of PJP. PJP itself is defined as Banks or Non-Bank Institutions that provide services to […]
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