Regulatory AlertsElectronic Licensing, Approval, and Reporting for Financing Companies and Sharia Financing Companies
The Indonesia Financial Services Authority (OJK) issued Circular Letter No. 20/SEOJK.06/2023 to mandate the electronic submission of licensing, approval, and reporting requests for financing companies and Sharia financing companies. This regulation establishes the scope, procedures, and format requirements for e-licensing, while exempting companies from submitting physical documents by allowing scanned copies of originals. It also outlines contingency protocols for technical disruptions or force majeure events, including alternative email submission methods and the OJK's obligation to announce such incidents.
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