Regulatory Alerts2009-07-01
Bank Indonesia Regulation Number 11/23/PBI/2009 Concerning Islamic Rural Banks
Bank Indonesia issued Regulation Number 11/23/PBI/2009 to establish comprehensive regulatory frameworks for Islamic Rural Banks (BPRS) to ensure their soundness and sustainability. The regulation mandates specific licensing procedures, minimum capital requirements, and ownership restrictions while defining strict integrity and competency standards for the Board of Directors, Commissioners, and Sharia Supervisory Boards. It further outlines governance obligations, including the requirement for Sharia compliance supervision and detailed reporting protocols for management changes and capital adjustments.
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