Regulatory Alerts2011-11-02
Bank Indonesia Regulation Number 13/23/PBI/2011 Concerning The Implementation Of Risk Management In Islamic Commercial Banks And Islamic Business Units
Bank Indonesia issued Regulation Number 13/23/PBI/2011 to mandate comprehensive risk management frameworks for Islamic Commercial Banks and Islamic Business Units. The regulation requires these institutions to establish robust governance structures, including active supervision by the Board of Commissioners and Directors, while ensuring all risk mitigation measures comply with Sharia Principles. It further stipulates specific obligations for risk identification, measurement, internal control, and the submission of quarterly risk profile reports to the central bank.
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