Regulatory Alerts2009-03-19
Bank Indonesia Regulation Number 11/10/PBI/2009 Concerning Sharia Business Units
Bank Indonesia issued Regulation Number 11/10/PBI/2009 to establish comprehensive licensing, operational, and governance standards for Sharia Business Units within conventional commercial banks. The regulation mandates a minimum working capital of 100 billion rupiah, requires the establishment of Sharia Supervisory Boards, and defines strict procedures for opening, upgrading, and closing domestic and overseas offices. It further stipulates that all business activities must adhere to Sharia principles and prudential standards while ensuring clear segregation from conventional banking operations.
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