Regulatory Alerts2009-01-27
Bank Indonesia Regulation No. 11/1/PBI/2009 Regarding Commercial Banks
Bank Indonesia issued this regulation to establish the legal framework for the establishment, ownership, and operational licensing of commercial banks in Indonesia. The document mandates a two-step licensing process involving principal approval and a business license, requiring a minimum paid-up capital of three trillion rupiah and strict adherence to fit and proper tests for directors and controlling shareholders. It further defines permissible legal structures, ownership limits for foreign entities, and specific requirements for bank branches and functional offices to ensure prudential standards and national banking stability.
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