Regulatory AlertsImplementation of Corporate Governance for Rural Banks
The Financial Services Authority (OJK) issued Circular Letter No. 12/SEOJK.03/2024 to refine the implementation rules for corporate governance at Rural Banks (BPR) in alignment with POJK No. 9 of 2024. The regulation mandates specific self-assessment procedures for BPR governance that correspond with risk-based health rating principles. It also establishes standardized formats for transparency reports, assessment worksheets, and general conclusions while repealing previous circulars from 2016 and 2020.
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