Regulatory AlertsOJK Regulation No. 26 of 2024 on the Expansion of Banking Business Activities
The Financial Services Authority (OJK) issued Regulation No. 26 of 2024 to expand banking business activities in alignment with the Financial Sector Development and Strengthening Law. The regulation permits general banks to broaden equity investment scopes, allows rural banks to invest in supporting institutions and manage asset transfers, and mandates the use of electronic signatures and agreements. It also establishes new standards for foreign exchange exchange services and bank guarantees while repealing several conflicting prior regulations.
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