Financial Services Authority Regulation Number 12 of 2021 Concerning Commercial Banks

COPY
FINANCIAL SERVICES AUTHORITY REGULATION
OF THE REPUBLIC OF INDONESIA
NUMBER 12 /POJK.03/2021
CONCERNING
COMMERCIAL BANKS
BY THE GRACE OF GOD THE ALMIGHTY

THE COMMISSIONERS OF THE FINANCIAL SERVICES AUTHORITY,

Considering:
a. that with the transfer of functions, duties, and authority for the regulation and supervision of financial services activities in the banking sector from Bank Indonesia to the Financial Services Authority; b. that to support economic growth and national stability, strong and competitive banks are needed, capable of anticipating trends in business and banking industry development, including information technology development and innovation;
c. that to encourage banks to carry out various improvements and adjustments in bank business procedures and processes to strengthen the institutional aspect of banks, regulations regarding bank institutions need to update the provisions;
d. that based on the considerations referred to in letters a, b, and c, it is necessary to establish a Financial Services Authority Regulation concerning Commercial Banks;

Recalling:

Law Number 7 of 1992 concerning Banking (State Gazette of the Republic of Indonesia Year 1992 Number 31, Supplement to the State Gazette of the Republic of Indonesia Number 3472) as amended by Law Number 10 of 1998 concerning Amendments to Law Number 7 of 1992 concerning Banking (State Gazette of the Republic of Indonesia Year 1998 Number 182, Supplement to the State Gazette of the Republic of Indonesia Number 3790);
Law Number 21 of 2008 concerning Sharia Banking (State Gazette of the Republic of Indonesia Year 2008 Number 94, Supplement to the State Gazette of the Republic of Indonesia Number 4867);
Law Number 21 of 2011 concerning the Financial Services Authority (State Gazette of the Republic of Indonesia Year 2011 Number 111, Supplement to the State Gazette of the Republic of Indonesia Number 5253);
Law Number 9 of 2016 concerning Prevention and Handling of Financial System Crises (State Gazette of the Republic of Indonesia Year 2016 Number 70, Supplement to the State Gazette of the Republic of Indonesia Number 5872);

DECIDING:

To Establish: A FINANCIAL SERVICES AUTHORITY REGULATION CONCERNING COMMERCIAL BANKS.

CHAPTER I
GENERAL PROVISIONS

Article 1
In this Financial Services Authority Regulation, the following terms are defined:

Commercial Bank, hereinafter referred to as Bank, is a Bank that conducts conventional business activities, which in its activities provides services in payment flows.
Indonesian Legal Entity Bank, hereinafter referred to as Bank BHI, is a Bank that conducts banking business activities in the form of an Indonesian legal entity in accordance with applicable laws and regulations, including intermediary banks.
Branch Office of a Bank Located Abroad, hereinafter referred to as KCBLN, is a Bank that is a branch office of a bank with a legal entity and headquarters located outside the country.
Representative Office of a Bank Located Abroad, hereinafter referred to as KPBLN, is an office of a bank with a legal entity and headquarters located outside the country, which acts only as a liaison between the bank with a legal entity and headquarters located outside the country and its customers in Indonesia.
Head Office, hereinafter abbreviated as KP, is the Bank BHI office that serves as the parent in the Bank BHI organization in relation to the implementation, support, and coordination of Bank BHI business activities, with its domicile located in a city or regency area within the territory of the Republic of Indonesia as determined in the articles of association in accordance with applicable laws and regulations.
Regional Office, hereinafter referred to as Kanwil, is a Bank BHI office that assists the KP in relation to the implementation of Bank BHI business activities, and provides support and coordination to Bank BHI offices under the Kanwil organization.
Branch Office, hereinafter abbreviated as KC, is a Bank BHI office that conducts banking business activities and is directly responsible to the KP or to another Bank BHI office based on the organizational structure of Bank BHI, with a clear business address where the KC conducts business.
Sub-Branch Office, hereinafter abbreviated as KCP, is an office under the KC or KCBLN that assists the KC or KCBLN in conducting banking business activities, with a clear business address where the KCP conducts business.
Functional Office, hereinafter abbreviated as KF, is a Bank BHI or KCBLN office that conducts limited banking business activities in 1 (one) activity.
Electronic Banking Terminal, hereinafter abbreviated as TPE, is a service provided by Bank BHI or KCBLN in the form of electronic equipment or machines owned and provided to offer banking services to customers, located either inside or outside the Bank BHI or KCBLN office.
Office Abroad is a Bank BHI office operating outside the territory of the Republic of Indonesia, which can be a KC, KCP, representative office, or other office following the form or naming based on regulations in the country where the Bank BHI operates.
Financial Services Authority, hereinafter abbreviated as OJK, is an independent institution that has the function, duty, and authority for regulation, supervision, examination, and investigation.
General Meeting of Shareholders, hereinafter abbreviated as RUPS, is the RUPS as regulated in the Law concerning Limited Liability Companies for Bank BHI in the form of a limited liability company legal entity, or an organ or equivalent party for Bank BHI with a legal entity form other than a limited liability company.
Board of Directors is the organ of Bank BHI authorized and fully responsible for the management of Bank BHI for the interests of Bank BHI, in accordance with the purpose and objectives of Bank BHI and representing Bank BHI, both inside and outside of court, in accordance with the articles of association for Bank BHI in the form of a limited liability company legal entity, an organ or equivalent party for Bank BHI with a legal entity form other than a limited liability company, or the head of the branch office and one level below the head of the branch office for KCBLN.
Board of Commissioners is the organ of Bank BHI tasked with conducting general and/or specific supervision in accordance with the articles of association and providing advice to the Board of Directors for Bank BHI in the form of a limited liability company legal entity, an organ or equivalent party for Bank BHI with a legal entity form other than a limited liability company, or a party appointed to carry out supervisory functions for KCBLN.
Executive Officer is a Bank official who is directly responsible to members of the Board of Directors or has significant influence over Bank policies and/or operations.
Capital Equivalency Maintained Assets, hereinafter abbreviated as CEMA, is Capital Equivalency Maintained Assets in accordance with the OJK Regulation regarding minimum capital provision requirements for commercial banks.
Core Capital is core capital in accordance with the OJK Regulation regarding minimum capital provision requirements for commercial banks for Bank BHI, the OJK Regulation regarding minimum capital provision requirements for Sharia commercial banks for banks conducting business activities based on Sharia principles, or business funds that have been allocated as CEMA in accordance with the OJK Regulation regarding minimum capital provision requirements for commercial banks for KCBLN.
Bank Business Plan is a business plan in accordance with OJK regulations regarding bank business plans.
Bank Group based on Core Capital, hereinafter abbreviated as KBMI, is a grouping of banks based on the Core Capital owned.
Controlling Shareholder, hereinafter abbreviated as PSP, is a legal entity, individual, and/or business group that owns 25% (twenty-five percent) or more of the issued shares of the company or Bank BHI and has voting rights, or owns less than 25% (twenty-five percent) of the issued shares of the company or Bank BHI and has voting rights but can be proven to have controlled the company or Bank BHI, either directly or indirectly.
Digital Bank is a Bank BHI that provides and conducts business activities primarily through electronic channels without physical offices other than the KP or using limited physical offices.
Banking Synergy is cooperation among banks grouped within a bank business group, with PSP being a bank, or against non-bank financial service institutions as subsidiaries, for the purpose of efficiency and optimization of resources through support and adding value to support the implementation of business activities, services, and operations of the parties involved in the cooperation.

Article 2
(1) Any party conducting fundraising activities from the public in the form of deposits must first obtain a business license as a Bank from the OJK, unless the fundraising activities are regulated by separate laws and regulations. (2) Without prejudice to criminal sanctions in accordance with applicable laws and regulations, any party violating the provisions as referred to in paragraph (1) shall be subject to administrative sanctions in the form of cessation and closure of business activities.

Article 3
The legal entity form of Bank BHI is implemented in accordance with applicable laws and regulations.

Article 4
Offices of banks with a legal entity and headquarters located outside the country operating in Indonesia consist of:
a. KCBLN; and b. KPBLN.

Article 5
Bank BHI and KCBLN are established and conduct business activities with an OJK license.

Article 6
(1) Banks must apply risk management and governance in accordance with OJK regulations regarding risk management, and regarding governance for commercial banks.
(2) Banks violating the provisions as referred to in paragraph (1) shall be subject to administrative sanctions in accordance with the OJK Regulation regarding risk management, and regarding governance for commercial banks.

CHAPTER II
CORPORATE PLANNING

Article 7
(1) Bank BHI or KCBLN must formulate a strategic plan in the form of a corporate plan.
(2) The corporate plan as referred to in paragraph (1) must be formulated by the Board of Directors and approved by the Board of Commissioners.
(3) Bank BHI or KCBLN aligns the formulation of the Bank Business Plan with the corporate plan as referred to in paragraph (1).
(4) The obligation to formulate a strategic plan in the form of a corporate plan as referred to in paragraph (1) is exempted for intermediary banks.

Article 8
(1) The corporate plan as referred to in Article 7 is formulated to achieve the long-term objectives of Bank BHI or KCBLN over a period of 5 (five) years.
(2) The corporate plan as referred to in paragraph (1) must contain at least:
a. the vision and mission of Bank BHI or KCBLN; b. an evaluation of the performance of Bank BHI or KCBLN in the previous period; and
c. an analysis of the internal and external environment; and
d. the objectives and strategies of Bank BHI or KCBLN.
(3) Bank BHI or KCBLN must submit the corporate plan as referred to in paragraph (2) to the OJK no later than the end of November in the year before the start of the initial period of the 5 (five) year corporate plan.

Article 9
(1) In the event that external and internal conditions significantly affect the objectives and strategies of Bank BHI or KCBLN as contained in the ongoing corporate plan, Bank BHI or KCBLN may make changes to the corporate plan. (2) Changes to the corporate plan as referred to in paragraph (1) must be formulated by the Board of Directors and approved by the Board of Commissioners. (3) Bank BHI or KCBLN submits changes to the corporate plan to the OJK at any time during the 5 (five) year period of the corporate plan as referred to in Article 8. (4) Changes to the corporate plan as referred to in paragraph (2) must contain at least:
a. reasons for changing the corporate plan; b. an evaluation of the performance of Bank BHI or KCBLN in the previous period;
c. the vision and mission of Bank BHI or KCBLN;
d. an analysis of the internal and external environment; and e. the objectives and strategies of Bank BHI or KCBLN.

Article 10
(1) Bank BHI or KCBLN violating the provisions as referred to in Article 7 paragraph (1), paragraph (2), Article 8 paragraph (3), and/or Article 9 paragraph (2) shall be subject to administrative sanctions in the form of a written reprimand. (2) In the event that Bank BHI or KCBLN has been subject to administrative sanctions as referred to in paragraph (1), and has not yet fulfilled the provisions as referred to in Article 7 paragraph (1), paragraph (2), Article 8 paragraph (3), and/or Article 9 paragraph (2), Bank BHI or KCBLN shall be subject to administrative sanctions in the form of:
a. prohibition on expanding business activities; and/or b. suspension of certain business activities.
(3) In the event that Bank BHI or KCBLN has been subject to administrative sanctions as referred to in paragraph (1) and/or paragraph (2), and violates the provisions as referred to in Article 7 paragraph (1), paragraph (2), Article 8 paragraph (3), Article 9 paragraph (2), and/or paragraph (2), PSP, Board of Directors, Board of Commissioners, and/or Executive Officers of Bank BHI or KCBLN may be subject to administrative sanctions in the form of prohibition as a principal party in accordance with the OJK Regulation regarding re-evaluation of principal parties of financial service institutions.

CHAPTER III
ESTABLISHMENT OF INDONESIAN LEGAL ENTITY BANKS

First Section
General

Article 11
(1) The establishment of Bank BHI refers to requirements and mechanisms consisting of:
a. paid-up capital; b. ownership; and
c. licensing.
(2) The establishment of Bank BHI as referred to in paragraph (1) does not apply to the establishment of intermediary banks.

Article 12
(1) The paid-up capital to establish Bank BHI is set at a minimum of IDR 10,000,000,000,000.00 (ten trillion rupiah).
(2) The OJK may set a different paid-up capital for the establishment of Bank BHI from that established as referred to in paragraph (1) with specific considerations.

Article 13
(1) Bank BHI is established and/or owned by:
a. Indonesian citizens and/or Indonesian legal entities; or b. Indonesian citizens and/or Indonesian legal entities in partnership with foreign citizens and/or foreign legal entities. (2) Ownership by foreign citizens and/or foreign legal entities as referred to in paragraph (1) letter b is at most 99% (ninety-nine percent) of the paid-up capital of Bank BHI.

Second Section
Licensing

Article 14
Licensing for the establishment of Bank BHI is conducted in 2 (two) stages:
a. principle approval is approval to conduct preparations for the establishment of Bank BHI; and b. business license is a license granted to conduct Bank BHI business activities after the preparations as referred to in letter a are completed.

Article 15
(1) An application to obtain principle approval as referred to in Article 14 letter a is submitted by at least one prospective owner or prospective PSP to the OJK, accompanied by:
a. a draft deed of establishment of the Bank BHI legal entity, including a draft articles of association containing at least:

name and domicile;
business activities as Bank BHI;
capital;
ownership;
authority, responsibility, and term of office of the Board of Directors and Board of Commissioners; and
the Board of Directors and Board of Commissioners must obtain approval from the OJK before carrying out actions, duties, and functions;
b. Bank BHI ownership data in the form of a list of prospective shareholders with details of share ownership for each;
c. a list of the composition of prospective Board of Directors and prospective Board of Commissioners of Bank BHI accompanied by fulfillment of administrative requirement documents in accordance with OJK regulations regarding the assessment of competence and propriety of principal parties of financial service institutions;
d. a plan for the organizational structure and human resources of Bank BHI; e. a feasibility study for the establishment of Bank BHI prepared by an independent party, accompanied by a business plan; f. the corporate plan of Bank BHI; g. risk management guidelines, internal control systems, information technology systems used, and guidelines regarding the implementation of governance of Bank BHI; h. Bank BHI work systems and procedures;
i. proof of capital deposit of at least 40% (forty percent) of the paid-up capital as referred to in Article 12, in the form of a copy of a deposit receipt at a Bank BHI in Indonesia and in the name of "Commissioners of the OJK qq. one of the prospective owners for the establishment of the respective Bank BHI", stating that disbursement is carried out with written approval from the OJK;
j. a statement letter from the shareholders of Bank BHI that the capital deposit as referred to in letter i:
does not come from loans or financing facilities in any form from banks and/or other parties in Indonesia; and
does not come from and is not for the purpose of money laundering; and
k. the business group structure related to the legal entity as the prospective PSP up to the ultimate owner and controller.
(2) The list of prospective shareholders as referred to in paragraph (1) letter b consists of:
a. individuals, accompanied by fulfillment of requirements in accordance with OJK regulations regarding the assessment of competence and propriety of principal parties of financial service institutions; b. legal entities, accompanied by fulfillment of requirements in accordance with OJK regulations regarding the assessment of competence and propriety of principal parties of financial service institutions; or
c. the government, either central or regional, accompanied by:
documents stating the decision to establish the bank by the government in accordance with applicable laws and regulations; and
fulfillment of requirements in accordance with OJK regulations regarding the assessment of competence and propriety of principal parties of financial service institutions.

Article 16
(1) Approval or rejection of the application for principle approval as referred to in Article 14 letter a is given by the OJK within a maximum of 60 (sixty) working days after the application documents are received completely. (2) To provide approval or rejection as referred to in paragraph (1), the OJK conducts:
a. research on the completeness and suitability of documents; b. analysis covering at least the level of healthy competition among banks, the level of saturation of the number of banks, and the equitable distribution of economic development in Indonesia; and
c. assessment of competence and propriety regarding prospective PSP, prospective Board of Directors, and prospective Board of Commissioners.

Article 17
(1) Principle approval as referred to in Article 16 is valid for a period of 6 (six) months calculated from the date of issuance of the principle approval.
(2) Parties who have obtained principle approval as referred to in paragraph (1) are prohibited from conducting banking business activities before obtaining a business license. (3) In the event of force majeure or other considerations acceptable to the OJK, the time period as referred to in paragraph (1) may be extended based on OJK approval. (4) In the event that the party who has obtained principle approval has not submitted an application for a business license to the OJK within the time period as referred to in paragraph (1) or paragraph (3), the principle approval issued by the OJK becomes invalid. (5) Without prejudice to criminal sanctions in accordance with applicable laws and regulations, any party violating the provisions as referred to in paragraph (2) shall be subject to administrative sanctions in the form of cancellation of the licensing process for the establishment of Bank BHI.

Article 18
An application to obtain a business license as referred to in Article 14 letter b is submitted by the party who has obtained principle approval to the OJK, accompanied by:
a. the deed of establishment of the legal entity, containing articles of association that have been approved by the competent authority; b. documents as referred to in Article 15 paragraph (1) letters b through h, if there are changes;
c. proof of payment of paid-up capital as referred to in Article 12, in the form of a copy of a deposit receipt at a Bank BHI in Indonesia in the name of "Commissioners of the OJK qq. one of the owners of the respective Bank BHI", stating that disbursement is carried out with written approval from the OJK;
d. proof of operational readiness at least in the form of:

a list of fixed assets and inventory;
proof of ownership, control, or office building lease agreements;
photos of the office building and room layout;
examples of forms or documents to be used for Bank BHI operations;
Taxpayer Identification Number (NPWP); and
Business Identification Number (NIB);
e. a statement letter from shareholders for Bank BHI that the payment of paid-up capital as referred to in letter c:
does not come from loans or financing facilities in any form from banks and/or other parties in Indonesia; and
does not come from and is not for the purpose of money laundering.

Article 19
(1) Approval or rejection of the application for a business license as referred to in Article 14 letter b is given by the OJK within a maximum of 60 (sixty) working days after the application documents are received completely. (2) To provide approval or rejection of the application as referred to in paragraph (1), the OJK conducts:
a. research on the completeness and suitability of documents; and b. assessment of competence and propriety in the event of replacements for prospective PSP, prospective Board of Directors, and/or prospective Board of Commissioners submitted at the time of the principle approval application.

Article 20
(1) Bank BHI that has obtained a business license from the OJK must conduct banking business activities within a maximum of 60 (sixty) working days calculated from the date of issuance of the business license. (2) The Board of Directors of Bank BHI must report the implementation of business activities as referred to in paragraph (1) to the OJK with a deadline of a maximum of 10 (ten) working days after the date of operational activity implementation. (3) In the event of force majeure or other considerations acceptable to the OJK, the time period as referred to in paragraph (1) may be extended based on OJK approval. (4) In the event that Bank BHI that has obtained a business license has not conducted business activities within the time period as referred to in paragraph (1) or paragraph (3), the business license and principle approval issued by the OJK become invalid.

Article 21
(1) Bank BHI that has obtained a business license from the OJK must clearly state the word "Bank" in the writing of the Bank BHI name.
(2) In the event that Bank BHI uses a logo as an additional identity in conducting legal relations, Bank BHI must state the name of Bank BHI as the primary identity.

Article 22
(1) Bank BHI violating the provisions as referred to in Article 20 paragraph (2) and/or Article 21 shall be subject to administrative sanctions in the form of a written reprimand. (2) Bank BHI that is late in fulfilling the reporting obligation as referred to in Article 20 paragraph (2) shall be subject to administrative sanctions in the form of a fine of IDR 1,000,000.00 (one million rupiah) per working day and a maximum of IDR 30,000,000.00 (thirty million rupiah). (3) In the event that Bank BHI has been subject to administrative sanctions as referred to in paragraph (1) and/or paragraph (2), and has not yet fulfilled the provisions as referred to in Article 20 paragraph (2) and/or Article 21, Bank BHI shall be subject to administrative sanctions in the form of:
a. prohibition on expanding business activities; and/or b. suspension of certain business activities.
(4) In the event that Bank BHI has been subject to administrative sanctions as referred to in paragraph (1) and/or paragraph (2) and violates the provisions as referred to in Article 20 paragraph (2), Article 21, paragraph (2), and/or paragraph (3), PSP, Board of Directors, Board of Commissioners, and/or Executive Officers of Bank BHI may be subject to administrative sanctions in the form of prohibition as a principal party in accordance with the OJK Regulation regarding re-evaluation of principal parties of financial service institutions.

CHAPTER IV
DIGITAL BANK
Article 23
(1) Indonesian Legal Entity Banks may operate as Digital Banks.
(2) Indonesian Legal Entity Banks as referred to in paragraph (1) must have 1 (one) physical office as a Main Office.
(3) Digital Banks carry out business activities through electronic channels without physical offices other than the Main Office as referred to in paragraph (2), or may use limited physical offices.

Article 24
(1) Indonesian Legal Entity Banks operating as Digital Banks as referred to in Article 23 paragraph (1) must meet the following requirements:
a. have a business model utilizing innovative and secure technology to serve customer needs; b. have the ability to manage the digital banking business model prudently and sustainably;
c. have adequate risk management;
d. meet governance aspects, including fulfilling Directors who have competence in information technology and other competencies in accordance with OJK regulations regarding the assessment of competence and propriety for key parties of financial service institutions; e. implement protection for customer data security; and f. provide efforts contributive to the development of the digital financial ecosystem and/or financial inclusion. (2) Indonesian Legal Entity Banks must maintain compliance with the requirements as referred to in paragraph (1) while operating as Digital Banks.

Article 25
Digital Banks as referred to in Article 23 may operate through:
a. the establishment of a new Indonesian Legal Entity Bank as a Digital Bank; or b. the transformation of an Indonesian Legal Entity Bank into a Digital Bank.

Article 26
(1) Provisions regarding the establishment of Indonesian Legal Entity Banks as referred to in Articles 11 through 22 apply mutatis mutandis to the establishment of new Indonesian Legal Entity Banks that will operate as Digital Banks as referred to in Article 25 letter a, except as specifically regulated in this OJK Regulation. (2) Special regulations as referred to in paragraph (1) consist of:
a. capital deposits at the time of application for obtaining the principle approval for the establishment of Indonesian Legal Entity Banks as referred to in Article 15 paragraph (1) letter i may be fulfilled by at least 30% (thirty percent); and b. efforts to meet the requirements as referred to in Article 24 are included in the business plan as referred to in Article 15 paragraph (1) letter e. (3) In the event that an Indonesian Legal Entity Bank operating as a Digital Bank through the establishment of a new Indonesian Legal Entity Bank as referred to in Article 25 letter a will open an office network other than the Main Office, the opening of the office network in the form of Regional Offices (KC) and/or Branch Offices (KF) that carry out activities other than operational and/or can provide ATMs. (4) The opening of an office network in the form of Regional Offices (KC) and/or Branch Offices (KF) that carry out activities other than operational and/or the provision of ATMs as referred to in paragraph (3) is set forth in the business plan at the time of application for obtaining the principle approval for the establishment of Indonesian Legal Entity Banks as referred to in Article 15 paragraph (1) letter e.

Article 27
(1) Indonesian Legal Entity Banks that will transform into Digital Banks as referred to in Article 25 letter b must meet the requirements as referred to in Article 24.
(2) Efforts to meet the requirements as referred to in paragraph (1) are set forth in the Bank Business Plan.
(3) In the event that an Indonesian Legal Entity Bank has met the requirements as referred to in paragraph (2), the Indonesian Legal Entity Bank may:
a. maintain existing office networks and/or ATMs; b. carry out the closure of owned office networks other than the Main Office and/or ATMs simultaneously or gradually; and/or
c. carry out the addition of office networks and/or ATMs.

Article 28
Indonesian Legal Entity Banks operating as Digital Banks as referred to in Article 25 may:
a. utilize foreign workers for positions of Directors, Executive Officials and/or experts or consultants, by excluding the limitation on ownership of Indonesian Legal Entity Banks by foreign citizens and/or foreign legal entities in the use of foreign workers in accordance with OJK regulations regarding the utilization of foreign workers and knowledge transfer programs in the banking sector; and/or b. carry out Banking Synergy.

Article 29
In the event that Digital Banks develop the digital financial ecosystem and/or financial inclusion as referred to in Article 24 paragraph (1) letter f, it must be carried out prudently and in accordance with the principles of healthy banking management.

Article 30
Indonesian Legal Entity Banks operating as Digital Banks must comply with applicable legislation for Indonesian Legal Entity Banks.

Article 31
(1) Indonesian Legal Entity Banks that violate the provisions as referred to in Article 23 paragraph (2), Article 24 paragraph (2), Article 29, and/or Article 30 are subject to administrative sanctions in the form of written reprimands. (2) In the event that an Indonesian Legal Entity Bank has been subject to administrative sanctions as referred to in paragraph (1), and has not yet fulfilled the provisions as referred to in Article 23 paragraph (2), Article 24 paragraph (2), Article 29, and/or Article 30, the Indonesian Legal Entity Bank is subject to administrative sanctions in the form of:
a. restriction of certain digital banking services; b. prohibition on carrying out business expansion activities; and/or
c. suspension of certain business activities.
(3) In the event that an Indonesian Legal Entity Bank has been subject to administrative sanctions as referred to in paragraph (1) and/or paragraph (2) and violates the provisions as referred to in Article 23 paragraph (2), Article 24 paragraph (2), Article 29, Article 30, and/or paragraph (2), Payment Service Providers (PSP), Directors, Board of Commissioners, and/or Executive Officials of the Indonesian Legal Entity Bank may be subject to administrative sanctions in the form of prohibition as key parties in accordance with OJK Regulations regarding the re-assessment for key parties of financial service institutions.

CHAPTER V
OWNERSHIP AND CAPITAL CHANGES OF INDONESIAN LEGAL ENTITY BANKS

Article 32
Sources of funds used for the ownership of Indonesian Legal Entity Banks are prohibited:
a. originating from loans or financing facilities in any form from Banks and/or other parties in Indonesia; and b. originating from and for the purpose of money laundering.

Article 33
(1) Ownership of Indonesian Legal Entity Banks by legal entities as referred to in Article 13 paragraph (1) is at most equal to the net own funds of the respective legal entity. (2) The net own funds provisions as referred to in paragraph (1) must be fulfilled at the time the respective legal entity makes capital deposits for the establishment of Indonesian Legal Entity Banks or at the time the respective legal entity makes additional paid-in capital for Indonesian Legal Entity Banks.

Article 34
If necessary, OJK may establish limitations on the ownership of Indonesian Legal Entity Banks.

Article 35
(1) Share ownership of Indonesian Legal Entity Banks by Payment Service Providers (PSP) is prohibited from being pledged or mortgaged to other parties.
(2) The prohibition on being pledged or mortgaged to other parties as referred to in paragraph (1) is excepted for institutions or agencies that have the authority to conduct rescue or handling of bank problems or other institutions designated by the competent authority.

Article 36
(1) Parties who become owners of Indonesian Legal Entity Banks must at least meet the following requirements:
a. have good character and morality; b. have a commitment to comply with applicable legislation;
c. have a commitment to the healthy development of Indonesian Legal Entity Banks; and
d. are not included as parties prohibited from becoming key parties of financial service institutions.
(2) In the event that the parties owning shares of Indonesian Legal Entity Banks are in the form of legal entities, the requirements as referred to in paragraph (1) apply to both the owners and the managers of the respective legal entity.

Article 37
Parties that can become Payment Service Providers (PSP) must meet requirements in accordance with OJK regulations regarding the assessment of competence and propriety for key parties of financial service institutions.

Article 38
(1) Shareholders are prohibited from participating in the operational decision-making of Indonesian Legal Entity Banks.
(2) The provisions as referred to in paragraph (1) are excepted for shareholders who are managers or employees of Indonesian Legal Entity Banks.

Article 39
(1) Replacement and/or addition of Payment Service Providers (PSP) is carried out in accordance with OJK regulations regarding the assessment of competence and propriety for key parties of financial service institutions. (2) In the event that there are changes in the Board of Directors and/or Board of Commissioners of a PSP in the form of a legal entity, the PSP through the Indonesian Legal Entity Bank must inform the changes to OJK within a maximum of 10 (ten) working days since the change in the Board of Directors and/or Board of Commissioners. (3) Information as referred to in paragraph (2) is accompanied by:
a. the minutes of the General Meeting of Shareholders (GMS) of the PSP in the form of a legal entity; and b. the deed of amendment of the articles of association of the PSP in the form of a legal entity.

Article 40
(1) In the event that there are changes in the paid-in capital of Indonesian Legal Entity Banks caused by dividends distributed in the form of shares, the Indonesian Legal Entity Bank must inform OJK within a maximum of 10 (ten) working days after the change is made. (2) Information as referred to in paragraph (1) is accompanied by:
a. the minutes of the GMS; and b. the deed of amendment of the articles of association.

Article 41
(1) Indonesian Legal Entity Banks must inform OJK of changes in the composition of share ownership of Indonesian Legal Entity Banks recorded in the articles of association that do not result in a change in control, within a maximum of 10 (ten) working days after the change is made. (2) Reports on changes in ownership composition as referred to in paragraph (1) that are caused by additional paid-in capital must be accompanied by:
a. proof of capital deposit; b. minutes of the GMS;
c. a statement letter from shareholders, that the additional capital:

does not originate from loans or financing facilities in any form from Banks and/or other parties in Indonesia, and
does not originate from and for the purpose of money laundering;
d. ownership data in the form of a shareholder list after additional paid-in capital, including the composition of each share ownership; and e. the deed of amendment of the articles of association along with proof of receipt of the notification of amendment of the articles of association from the competent agency. (3) Reports on changes in ownership composition as referred to in paragraph (1) that do not change the amount of paid-in capital must be accompanied by:
a. documents as referred to in paragraph (2) letters b through e; and b. copies of share transfer documents.
(4) OJK may request Indonesian Legal Entity Banks to submit reports on composition or lists of share ownership other than those referred to in paragraph (2) and paragraph (3).

Article 42
(1) Indonesian Legal Entity Banks must inform OJK of changes in the composition of share ownership of Indonesian Legal Entity Banks that:
a. are recorded in the articles of association caused by share gifts or inheritance; and b. do not result in changes in paid-in capital, within a maximum of 10 (ten) working days after the change in ownership composition is made. (2) Information as referred to in paragraph (1) is accompanied by:
a. deeds of gift or inheritance deeds; b. ownership data in the form of a shareholder list along with the composition of each share ownership after share gifts or inheritance; and
c. administrative requirement documents for the assessment of competence and propriency in the event that the recipient of the gift or inheritance meets the criteria for control, or a stamped statement letter stating that the recipient of the gift or inheritance meets the requirements as referred to in Article 36 paragraph (1) in the event that the recipient of the gift or inheritance does not meet the criteria for control.
(3) In the event that changes in share ownership as referred to in paragraph (1) cause the recipient of the gift or inheritance shares to meet the criteria for control, an assessment of competence and propriety is conducted. (4) Changes in share ownership that result in the transfer of control of Indonesian Legal Entity Banks caused by gifts or inheritance are excepted as takeovers.

Article 43
(1) Indonesian Legal Entity Banks must inform OJK of changes in the basic capital of Indonesian Legal Entity Banks within a maximum of 10 (ten) working days after the date of approval of the amendment of the articles of association from the competent agency. (2) Information as referred to in paragraph (1) is accompanied by:
a. minutes of the GMS; and b. the deed of amendment of the articles of association that has been approved by the competent agency.

Article 44
The repurchase of shares that have been issued by Indonesian Legal Entity Banks must obtain prior approval from OJK and be carried out in accordance with applicable legislation.

Article 45
(1) Plans for the issuance of shares of Indonesian Legal Entity Banks through public offerings of equity-like securities must be included in the Bank Business Plan and obtain OJK approval. (2) Requirements and procedures for the issuance of shares through public offerings of equity-like securities are carried out in accordance with applicable legislation in the banking and capital market sectors.

Article 46
Indonesian Legal Entity Banks must administer documents related to share ownership recorded in the articles of association, including the shareholder list and its changes.

Article 47
(1) Indonesian Legal Entity Banks that violate the provisions as referred to in Article 32, Article 33 paragraph (2), Article 35 paragraph (1), Article 38 paragraph (1), Article 39 paragraph (2), Article 40 paragraph (1), Article 41 paragraph (1), paragraph (2), paragraph (3), Article 42 paragraph (1), Article 43 paragraph (1), Article 44, Article 45 paragraph (1), and/or Article 46 are subject to administrative sanctions in the form of written reprimands. (2) Indonesian Legal Entity Banks that are late in fulfilling the obligation to submit information as referred to in Article 39 paragraph (2), Article 40 paragraph (1), Article 41 paragraph (1), Article 42 paragraph (1), and/or Article 43 paragraph (1) are subject to administrative sanctions in the form of fines of IDR 1,000,000.00 (one million rupiah) per working day and at most IDR 30,000,000.00 (thirty million rupiah). (3) In the event that an Indonesian Legal Entity Bank has been subject to administrative sanctions as referred to in paragraph (1) and/or paragraph (2), and has not yet fulfilled the provisions as referred to in Article 32, Article 33 paragraph (2), Article 35 paragraph (1), Article 38 paragraph (1), Article 39 paragraph (2), Article 40 paragraph (1), Article 41 paragraph (1), paragraph (2), paragraph (3), Article 42 paragraph (1), Article 43 paragraph (1), Article 44, Article 45 paragraph (1), and/or Article 46, the Indonesian Legal Entity Bank is subject to administrative sanctions in the form of:
a. prohibition on carrying out business expansion activities; and/or b. suspension of certain business activities.
(4) In the event that an Indonesian Legal Entity Bank has been subject to administrative sanctions as referred to in paragraph (1) and/or paragraph (2) and violates the provisions as referred to in Article 32, Article 33 paragraph (2), Article 35 paragraph (1), Article 38 paragraph (1), Article 39 paragraph (2), Article 40 paragraph (1), Article 41 paragraph (1), paragraph (2), paragraph (3), Article 42 paragraph (1), Article 43 paragraph (1), Article 44, Article 45 paragraph (1), Article 46, paragraph (2), and/or paragraph (3), Payment Service Providers (PSP), Directors, Board of Commissioners, and/or Executive Officials of the Indonesian Legal Entity Bank may be subject to administrative sanctions in the form of prohibition as key parties in accordance with OJK Regulations regarding the re-assessment for key parties of financial service institutions.

CHAPTER VI
DIRECTORS, BOARD OF COMMISSIONERS, AND EXECUTIVE OFFICIALS OF INDONESIAN LEGAL ENTITY BANKS AND BRANCHES OF BANKS LOCATED ABROAD, AS WELL AS HEADS OF REPRESENTATIVE OFFICES OF BANKS LOCATED ABROAD

Article 48
Fulfillment of requirements, numbers, composition, criteria, fields of duty and/or responsibilities of Directors and Board of Commissioners of Indonesian Legal Entity Banks or Branches of Banks Located Abroad (KCBLN) and Heads of Representative Offices of Banks Located Abroad (KPBLN) are carried out in accordance with OJK regulations regarding the management of Indonesian Legal Entity Banks, KCBLN, or KPBLN.

Article 49
(1) Candidates for members of the Board of Directors or candidates for members of the Board of Commissioners of Indonesian Legal Entity Banks, candidates for members of the Board of Directors of KCBLN or candidates for heads of KPBLN must undergo competence and propriety assessments in accordance with OJK regulations regarding the assessment of competence and propriety for key parties of financial service institutions. (2) Candidates for members of the Board of Directors or candidates for members of the Board of Commissioners of Indonesian Legal Entity Banks who have undergone competence and propriety assessments as referred to in paragraph (1) and have obtained approval from OJK are appointed by the General Meeting of Shareholders (GMS) within a maximum of 6 (six) months after OJK approval is obtained. (3) Candidates for members of the Board of Directors of KCBLN or candidates for heads of KPBLN who have undergone competence and propriety assessments as referred to in paragraph (1) and have obtained approval from OJK are appointed by the competent officials at banks located abroad within a maximum of 6 (six) months after OJK approval is obtained. (4) In the event that candidates for members of the Board of Directors or candidates for members of the Board of Commissioners of Indonesian Legal Entity Banks, candidates for members of the Board of Directors of KCBLN, or candidates for heads of KPBLN who have been approved by OJK are not appointed within the time period as referred to in paragraph (2) or paragraph (3), the approval issued by OJK becomes invalid. (5) Indonesian Legal Entity Banks, KCBLN, or KPBLN must inform OJK of the appointment of members of the Board of Directors or members of the Board of Commissioners of Indonesian Legal Entity Banks, members of the Board of Directors of KCBLN or heads of KPBLN within a maximum of 10 (ten) working days after the effective date of appointment, accompanied by the minutes of the GMS or appointment documents from competent officials at banks located abroad.

Article 50
(1) In the event that there are members of the Board of Directors or members of the Board of Commissioners of Indonesian Legal Entity Banks, members of the Board of Directors of KCBLN or heads of KPBLN who are dismissed, resign, or pass away, Indonesian Legal Entity Banks, KCBLN, or KPBLN must inform OJK within a maximum of 10 (ten) working days since the date of the dismissal letter, resignation, or statement of death. (2) Information on dismissal or resignation as referred to in paragraph (1) is accompanied by supporting documents for dismissal, resignation, and/or statements declaring death.

Article 51
(1) Indonesian Legal Entity Banks or KCBLN must conduct assessments of Executive Official candidates before making appointments or replacements of Executive Officials.
(2) Assessments of Executive Official candidates as referred to in paragraph (1) are conducted regarding aspects of integrity, financial reputation, and competence.
(3) Assessments as referred to in paragraph (2) must at least cover:
a. assessment of track record, including sanctions previously given by Indonesian Legal Entity Banks or KCBLN; b. ownership of non-performing loans or financing or bankruptcy;
c. educational background, both formal and informal;
d. achievements attained in the execution of duties; e. the candidate's ability to hold the position to be held; and f. concurrent positions.

Article 52
(1) In the event of a vacancy in Executive Official positions or Executive Officials who are serving cannot carry out duties for more than 3 (three) months, Indonesian Legal Entity Banks or KCBLN may make temporary appointments of Executive Officials. (2) Temporary appointments of Executive Officials as referred to in paragraph (1) must undergo assessments as referred to in Article 51. (3) Indonesian Legal Entity Banks or KCBLN must appoint definitive Executive Officials within a maximum of 6 (six) months since the date of temporary appointment of Executive Officials as referred to in paragraph (1).

Article 53
(1) Indonesian Legal Entity Banks or KCBLN must report the appointment, dismissal, or replacement of Executive Officials and temporary appointments of Executive Officials to OJK. (2) In the event that Executive Officials have a negative track record based on OJK assessments, Indonesian Legal Entity Banks or KCBLN must terminate the term of office of the Executive Officials. (3) Negative track records as referred to in paragraph (2) include:
a. being included as parties prohibited from becoming key parties of financial service institutions; b. having non-performing loans or financing or bankruptcy in accordance with OJK regulations regarding the assessment of competence and propriety for key parties of financial service institutions; and/or
c. being recorded in negative data and information owned by OJK originating from the results of OJK supervision or other sources.
(4) Indonesian Legal Entity Banks or KCBLN must carry out the termination of the term of office of Executive Officials as referred to in paragraph (2) within a maximum of 10 (ten) working days since the date of the notification letter from OJK regarding the negative track record of Executive Officials is received by Indonesian Legal Entity Banks or KCBLN.

Article 54
Banks utilizing foreign workers must comply with requirements and procedures for the utilization of foreign workers in accordance with applicable legislation.

Article 55
(1) Indonesian Legal Entity Banks, KCBLN, or KPBLN that violate the provisions as referred to in Article 49 paragraph (1), paragraph (5), Article 50 paragraph (1), Article 51 paragraph (1), Article 52 paragraph (2), paragraph (3), Article 53 paragraph (1), paragraph (2), and/or paragraph (4) are subject to administrative sanctions in the form of written reprimands. (2) Indonesian Legal Entity Banks, KCBLN, or KPBLN that are late in fulfilling the obligation to submit information as referred to in Article 49 paragraph (5) and/or Article 50 paragraph (1) are subject to administrative sanctions in the form of fines of IDR 1,000,000.00 (one million rupiah) per working day and at most IDR 30,000,000.00 (thirty million rupiah). (3) In the event that Indonesian Legal Entity Banks, KCBLN, or KPBLN have been subject to administrative sanctions as referred to in paragraph (1) and/or paragraph (2), and have not yet fulfilled the provisions as referred to in Article 49 paragraph (1), paragraph (5), Article 50 paragraph (1), Article 51 paragraph (1), Article 52 paragraph (2), paragraph (3), Article 53 paragraph (1), paragraph (2), and/or paragraph (4), Indonesian Legal Entity Banks, KCBLN, or KPBLN are subject to administrative sanctions in the form of:
a. prohibition on carrying out business expansion activities; b. suspension of certain business activities; and/or
c. restrictions and/or prohibitions on carrying out KPBLN activities.
(4) In the event that Indonesian Legal Entity Banks, KCBLN, or KPBLN have been subject to administrative sanctions as referred to in paragraph (1) and/or paragraph (2) and violate the provisions as referred to in Article 49 paragraph (1), paragraph (5), Article 50 paragraph (1), Article 51 paragraph (1), Article 52 paragraph (2), paragraph (3), Article 53 paragraph (1), paragraph (2), paragraph (4), paragraph (2), and/or paragraph (3), Payment Service Providers (PSP), Directors, Board of Commissioners, and/or Executive Officials of Indonesian Legal Entity Banks or KCBLN, or heads of KPBLN, may be subject to administrative sanctions in the form of prohibition as key parties in accordance with OJK Regulations regarding the re-assessment for key parties of financial service institutions.

CHAPTER VII
OFFICES OF INDONESIAN LEGAL ENTITY BANKS
First Section
General

Article 56
(1) The office network of Indonesian Legal Entity Banks consists of Main Offices (KP), Regional Offices (Kanwil), Branch Offices (KC), Sub-Branch Offices (KCP), Cash Offices (KF), and Offices Abroad. (2) To expand services to customers, Indonesian Legal Entity Banks may provide ATMs.

Article 57
Offices of Indonesian Legal Entity Banks other than Main Offices and Regional Offices as referred to in Article 56 paragraph (1) can carry out service and operational activities for customers using electronic channels and/or the provision of ATMs, either wholly or partially.

Article 58
(1) Indonesian Legal Entity Banks establish offices or organizational units responsible for managing the provided ATMs.
(2) Indonesian Legal Entity Banks must report the provision, relocation of address, or termination of the provision of ATMs to OJK after the implementation of the provision, relocation of address, or termination of the provision of ATMs.

Second Section
Opening of Offices of Indonesian Legal Entity Banks Paragraph 1 General

Article 59
(1) Plans for the opening of offices of Indonesian Legal Entity Banks other than Main Offices and the provision of ATMs as referred to in Article 56 must be based on an analysis that at least contains:
a. the alignment of the plan with business strategy and the impact on projected financial performance; and b. plans for operational readiness related to the opening of offices of Indonesian Legal Entity Banks. (2) Indonesian Legal Entity Banks must administer documents regarding the analysis related to the plan for the opening of offices of Indonesian Legal Entity Banks as referred to in paragraph (1).

Article 60
Bank BHI is required to include plans to open offices, namely Regional Offices (Kanwil), Branch Offices (KC), and Offices Abroad, for the next 1 (one) year in the Bank's Business Plan.

Paragraph 2
Opening of Regional Offices of Indonesian Legal Entity Banks

Article 61
(1) The opening of a Regional Office requires OJK approval.
(2) Bank BHI submits an application for approval to OJK at the latest 30 (thirty) working days before the planned implementation of the Regional Office opening.
(3) The application for approval is submitted by the authorized official of Bank BHI in accordance with Bank BHI's internal regulations, accompanied by documents:
a. organizational structure and scope of work of the Regional Office; and b. duties and authority of the Regional Office.

Article 62
(1) OJK provides approval or rejection of the application for approval to open a Regional Office as referred to in Article 61.
(2) The approval or rejection as referred to in paragraph (1) is provided within a period of 14 (fourteen) working days from the date the documents as referred to in Article 61 paragraph (3) are received in complete form. (3) To provide approval or rejection of the application for approval as referred to in Article 61, OJK conducts research:
a. on the plan to open a Regional Office which has been included in the Bank's Business Plan, as referred to in Article 60; and b. on the completeness and conformity of the documents submitted as referred to in Article 61 paragraph (3).

Article 63
(1) Bank BHI must implement the opening of a Regional Office at the latest 30 (thirty) working days from the date of OJK approval.
(2) In the event of force majeure or other considerations acceptable to OJK, the time limit as referred to in paragraph (1) may be extended based on OJK approval.
(3) In the event that Bank BHI does not implement the opening of a Regional Office after the time limit as referred to in paragraph (1) or paragraph (2), the OJK approval becomes invalid. (4) Bank BHI is required to report the opening of a Regional Office to OJK after the implementation of the Regional Office opening.

Paragraph 3
Opening of Branch Offices of Indonesian Legal Entity Banks

Article 64
(1) The opening of a Branch Office (KC) requires OJK approval.
(2) Bank BHI submits an application for approval to OJK at the latest 30 (thirty) working days before the planned implementation of the Branch Office opening.
(3) The application for approval is submitted by the authorized official of Bank BHI in accordance with Bank BHI's internal regulations, accompanied by:
a. a confirmation document from the authorized compliance unit official stating that Bank BHI has:

implemented operational preparations for the opening of the Branch Office; and
conducted a feasibility study containing at least economic potential, market opportunities, healthy competition levels among banks, and the saturation level of the number of banks; and
b. the Branch Office business plan for the next 12 (twelve) months.

Article 65
(1) OJK provides approval or rejection of the application for approval to open a Branch Office as referred to in Article 64.
(2) The approval or rejection as referred to in paragraph (1) is provided within a period of 14 (fourteen) working days from the date the documents as referred to in Article 64 paragraph (3) are received in complete form. (3) To provide approval or rejection of the application for approval as referred to in Article 64, OJK conducts research:
a. on the plan to open a Branch Office which has been included in the Bank's Business Plan, as referred to in Article 60; and b. on the completeness and conformity of the documents submitted as referred to in Article 64 paragraph (3).

Article 66
(1) Bank BHI must implement the opening of a Branch Office at the latest 30 (thirty) working days from the date of OJK approval.
(2) In the event of force majeure or other considerations acceptable to OJK, the time limit as referred to in paragraph (1) may be extended based on OJK approval.
(3) In the event that Bank BHI does not implement the opening of a Branch Office after the time limit as referred to in paragraph (1) or paragraph (2), the OJK approval becomes invalid. (4) Bank BHI is required to report the opening of a Branch Office to OJK after the implementation of the Branch Office opening.

Paragraph 4
Opening of Auxiliary Branch Offices of Indonesian Legal Entity Banks

Article 67
(1) Auxiliary Branch Offices (KCP) may be permanent or mobile (moving).
(2) Bank BHI is required to report the opening of an Auxiliary Branch Office to OJK after the implementation of the Auxiliary Branch Office opening.
(3) Bank BHI is required to combine the financial reports of the Auxiliary Branch Office with the financial reports of the Branch Office from the date of the Auxiliary Branch Office opening.

Paragraph 5
Opening of Functional Offices of Indonesian Legal Entity Banks

Article 68
(1) Functional Offices (KF) may conduct operational activities or conduct activities other than operational activities.
(2) Bank BHI is required to report the opening of a Functional Office to OJK after the implementation of the Functional Office opening.
(3) Bank BHI is required to combine the financial reports of the Functional Office with the financial reports of the Branch Office or Auxiliary Branch Office from the date of the Functional Office opening.

Paragraph 6
Opening of Offices of Indonesian Legal Entity Banks Abroad

Article 69
(1) The opening of Offices Abroad requires approval from OJK and the authority in the respective country.
(2) Bank BHI that can apply for the opening of Offices Abroad must meet the criteria:
a. being a Bank BHI that has conducted business activities in foreign currency; and b. Bank BHI meets the feasibility assessment from OJK regarding the opening of Offices Abroad. (3) Bank BHI submits an application for approval to OJK at the latest 30 (thirty) working days before the planned submission of the application for opening Offices Abroad to the authority in the respective country, which refers to the regulations of the authority in the respective country. (4) The application for approval is submitted by the authorized official of Bank BHI in accordance with Bank BHI's internal regulations, accompanied by:
a. a document from the authorized compliance unit official stating that Bank BHI has:

implemented operational preparations for the opening of Offices Abroad;
conducted a feasibility study containing at least economic potential, market opportunities, healthy competition levels among banks, and the saturation level of the number of banks, for Offices Abroad other than representative offices;
b. the business plan for Offices Abroad for the next 12 (twelve) months for Offices Abroad other than representative offices;
c. the activity plan to be conducted by the representative office for the next 12 (twelve) months for Offices Abroad in the form of a representative office; and
d. information on the stages to be carried out in the implementation of the opening of Offices Abroad in a timely manner, referring to the process and procedures as per the regulations of the authority in the respective country.

Article 70
(1) OJK provides approval or rejection of the application for approval to open Offices Abroad as referred to in Article 69.
(2) The approval or rejection as referred to in paragraph (1) is provided within a period of 14 (fourteen) working days from the date the documents as referred to in Article 69 paragraph (4) are received in complete form. (3) To provide approval or rejection of the application for approval as referred to in paragraph (1), OJK conducts research:
a. on the plan to open Offices Abroad which has been included in the Bank's Business Plan as referred to in Article 60; b. on the fulfillment of Bank BHI requirements as referred to in Article 69 paragraph (2) and conducts analysis; and
c. on the completeness and conformity of the documents submitted as referred to in Article 69 paragraph (4).

Article 71
(1) The opening of Offices Abroad must be implemented at the latest 1 (one) year from the date of OJK approval.
(2) In the event of force majeure or other considerations acceptable to OJK, the time limit as referred to in paragraph (1) may be extended based on OJK approval.
(3) In the event that Bank BHI does not implement the opening of Offices Abroad after the time limit as referred to in paragraph (1) or paragraph (2), the OJK approval becomes invalid. (4) Bank BHI is required to submit a copy of the approval for the opening of Offices Abroad from the authority in the respective country to OJK at the latest 10 (ten) working days from the effective date of the opening of Offices Abroad. (5) Bank BHI is required to report the opening of Offices Abroad to OJK after the effective date of the implementation of the opening of Offices Abroad.

Part Three
Change of Status of Offices of Indonesian Legal Entity Banks

Paragraph 1
General

Article 72
Bank BHI may change the status of offices owned.

Paragraph 2
Change of Status of Auxiliary Branch Offices to Branch Offices

Article 73
(1) Bank BHI is required to include plans to change the status of Auxiliary Branch Offices (KCP) to Branch Offices (KC) for the next 1 (one) year in the Bank's Business Plan. (2) The change of status of KCP to KC is carried out by meeting the requirements and procedures in accordance with the opening of KC as referred to in Article 64, Article 65, and Article 66.

Paragraph 3
Change of Status of Branch Offices to Auxiliary Branch Offices

Article 74
(1) Bank BHI is required to include plans to change the status of Branch Offices (KC) to Auxiliary Branch Offices (KCP) for the next 1 (one) year in the Bank's Business Plan. (2) Bank BHI is required to inform OJK of the change of status of KC to KCP at the latest 30 (thirty) working days before the planned implementation of the status change. (3) The submission of information to OJK as referred to in paragraph (2) is accompanied by:
a. reasons for the status change; and b. Bank BHI's analysis regarding:

the business condition of the KC after the status change to KCP and the necessary mitigation; and
the plan to settle the rights and obligations of the KC to customers and other parties in relation to the change of status of KC to KCP.
(4) Bank BHI is required to implement the change of status of KC to KCP at the earliest 14 (fourteen) working days from the date of submission of information to OJK and at the latest on the date of the planned implementation of the status change as referred to in paragraph (2). (5) Bank BHI is required to report the change of status of KC to KCP to OJK after the implementation of the status change.

Paragraph 4
Change of Status of Other Offices of Indonesian Legal Entity Banks

Article 75
The change of status of offices other than as referred to in Article 73 and Article 74 is carried out by closing the Bank BHI office that will change status and opening a new Bank BHI office by meeting the requirements and procedures in accordance with this OJK Regulation.

Part Four
Relocation of Addresses of Offices of Indonesian Legal Entity Banks

Article 76
Bank BHI that plans to relocate addresses:
a. Auxiliary Offices (KP) that result in a change of domicile in the Articles of Association; b. Regional Offices to a different province; or
c. Offices Abroad to a different city,
for the next 1 (one) year must include this in the Bank's Business Plan.

Article 77
(1) The relocation of addresses of Bank BHI offices in the form of KP, Kanwil, and/or Offices Abroad as referred to in Article 76 requires approval from OJK.
(2) Bank BHI submits an application for approval to OJK as referred to in paragraph (1) at the latest:
a. 30 (thirty) working days before the planned implementation of the relocation of Bank BHI offices in the form of KP and/or Kanwil; or b. 30 (thirty) working days before the planned submission of the application for relocation of Offices Abroad as per the relocation regulations of Offices Abroad by the authority in the respective country. (3) The application for approval is submitted by the authorized official of Bank BHI in accordance with Bank BHI's internal regulations, accompanied by:
a. reasons for the address relocation; b. a document from the authorized compliance unit official stating that Bank BHI has implemented operational preparations for the address relocation;
c. for the relocation of Bank BHI offices in the form of Offices Abroad, accompanied by a document from the authorized compliance unit official stating that Bank BHI has:

conducted a feasibility study containing at least economic potential, market opportunities, healthy competition levels among banks, and the saturation level of the number of banks, for Offices Abroad other than representative offices;
conducted an analysis regarding the business condition of Offices Abroad other than representative offices after the address relocation and the necessary mitigation; and
prepared a plan to settle the rights and obligations of Offices Abroad to customers and/or other parties in relation to the address relocation; and
d. information on the stages to be carried out in the implementation of the relocation of Offices Abroad in a timely manner, referring to the process and procedures as per the regulations of the authority in the respective country. (4) For the relocation of KP addresses that result in a change of domicile in the Articles of Association as referred to in Article 76 letter a, the application for address relocation approval may be submitted simultaneously with the application for approval of the change of Articles of Association regarding domicile to the competent authority in accordance with applicable legislation. (5) Bank BHI submits the approval of the change of Articles of Association as referred to in paragraph (4) accompanied by the deed of approval of the General Meeting of Shareholders (RUPS) to OJK at the latest 5 (five) working days from the date of approval by the competent authority.

Article 78
(1) OJK provides approval or rejection of the relocation of Bank BHI office addresses as referred to in Article 77.
(2) The approval or rejection as referred to in paragraph (1) is provided within a period of 14 (fourteen) working days from the date the documents as referred to in Article 77 paragraph (3) and paragraph (5) are received in complete form. (3) To provide approval or rejection of the application for approval as referred to in Article 77, OJK conducts research:
a. on the plan to relocate Bank BHI office addresses which has been included in the Bank's Business Plan, as referred to in Article 76; and b. on the completeness and conformity of the documents submitted as referred to in Article 77 paragraph (3) and paragraph (5).

Article 79
(1) Bank BHI that has obtained approval for the relocation of office addresses as referred to in Article 76 from OJK and approval from the authority in the respective country for Offices Abroad, is required to announce the plan to relocate office addresses through:
a. a daily newspaper in Indonesian with national circulation, Bank BHI's website, and/or Bank BHI's official social media accounts, for the relocation of KP addresses; or b. Bank BHI's website and/or Bank BHI's official social media accounts, for the relocation of Kanwil and Offices Abroad addresses, at the latest 5 (five) working days from the date of OJK approval or following the regulations of the authority in the respective country for the relocation of Offices Abroad addresses. (2) Bank BHI must implement the relocation of Bank BHI office addresses at the latest 30 (thirty) working days from the date of OJK approval, or following the regulations of the authority in the respective country for the relocation of Offices Abroad addresses. (3) In the event of force majeure or other considerations acceptable to OJK, the time limit as referred to in paragraph (2) may be extended based on OJK approval. (4) In the event that Bank BHI does not implement the relocation of office addresses after the time limit as referred to in paragraph (2) or paragraph (3), the OJK approval becomes invalid. (5) Bank BHI is required to submit a copy of the approval for the relocation of Offices Abroad addresses from the authority in the respective country to OJK at the latest 10 (ten) working days from the effective date of the relocation of Offices Abroad addresses. (6) In the event that the relocation of Bank BHI office addresses as referred to in Article 76 is cancelled, Bank BHI is required to submit information on the cancellation to OJK at the latest before the implementation of the relocation of Bank BHI office addresses as referred to in paragraph (2). (7) Bank BHI is required to submit the deed of approval of the General Meeting of Shareholders (RUPS) and the change of Articles of Association to OJK at the latest 5 (five) working days from the date of approval by the competent authority in relation to the cancellation of the relocation of KP addresses that results in a change of domicile in the Articles of Association. (8) In the event that the relocation of Bank BHI office addresses as referred to in Article 76 is cancelled and Bank BHI has already announced the plan to relocate office addresses as referred to in paragraph (1), Bank BHI is required to announce the cancellation of the address relocation at the latest before the implementation of the relocation of Bank BHI office addresses as referred to in paragraph (2) through:
a. a daily newspaper in Indonesian with national circulation; b. Bank BHI's website; and/or
c. Bank BHI's official social media accounts.

Article 80
(1) Bank BHI is required to inform the plan to relocate addresses:
a. KP that does not result in a change of domicile in the Articles of Association; b. Kanwil within the same province;
c. Offices Abroad within the same city;
d. KC; e. KCP; or f. KF that conducts operational activities, to OJK at the latest 30 (thirty) working days before the effective date of the address relocation.
(2) Bank BHI is required to announce the plan to relocate office addresses as referred to in paragraph (1) through:
a. notice at the office location; b. a daily newspaper in Indonesian;
c. Bank BHI's website; and/or
d. Bank BHI's official social media accounts, at the earliest 5 (five) working days after the date of submission of information to OJK as referred to in paragraph (1).
(3) Bank BHI is required to inform OJK of the plan to relocate the address of KF that conducts activities other than operational activities at the latest 10 (ten) working days before the effective date of the address relocation. (4) In the event that the relocation of office addresses as referred to in paragraph (1) and/or paragraph (3) is cancelled, Bank BHI is required to submit information on the cancellation to OJK at the latest on the effective date of the relocation of office addresses as referred to in paragraph (1). (5) In the event that the relocation of office addresses as referred to in paragraph (1) is cancelled and an announcement has been made as referred to in paragraph (2), Bank BHI is required to announce the cancellation of the plan to relocate office addresses through:
a. notice at the office location; b. a daily newspaper in Indonesian;
c. Bank BHI's website; and/or
d. Bank BHI's official social media accounts, at the latest on the effective date of the relocation as referred to in paragraph (1).

Article 81
(1) Bank BHI may carry out a temporary relocation of Bank BHI office addresses due to force majeure or other conditions in accordance with Bank BHI's needs.
(2) Bank BHI is required to inform OJK of the temporary relocation of Bank BHI office addresses as referred to in paragraph (1) at the latest on the date of implementation of the temporary relocation. (3) In the event that the temporary relocation of Bank BHI office addresses as referred to in paragraph (1) will be resolved and will return to operate at the previous address, Bank BHI is required to inform OJK at the latest on the date of effective operation at the previous address. (4) Temporary relocation of Offices Abroad also follows the regulations of the authority in the respective country.

Part Five
Closing of Offices of Indonesian Legal Entity Banks

Article 82
Bank BHI is required to include plans to close Bank BHI offices in the form of Kanwil, KC, and/or Offices Abroad for the next 1 (one) year in the Bank's Business Plan.

Article 83
(1) The closing of Bank BHI offices in the form of Kanwil, KC, and/or Offices Abroad requires OJK approval.
(2) Bank BHI submits an application for approval to OJK at the latest:
a. 30 (thirty) working days before the planned implementation of the closing of Bank BHI offices in the form of Kanwil and/or KC; or b. 30 (thirty) working days before the planned submission of the application for closing Offices Abroad as per the closing regulations of Offices Abroad by the authority in the respective country. (3) The application for approval is submitted by the authorized official of Bank BHI in accordance with Bank BHI's internal regulations, accompanied by reasons for the office closing and documents:
a. for the closing of Kanwil, accompanied by:

the reorganization of Bank BHI offices under the Kanwil organization after the closing of the Kanwil; and
steps taken to settle the rights and obligations of the Kanwil to other parties;
b. for the closing of KC, accompanied by an explanation of the steps taken to settle the rights and obligations of the KC to customers and/or other parties; or
c. for the closing of Offices Abroad, accompanied by an explanation regarding:
a) steps taken in settling the rights and obligations of Offices Abroad to customers and/or other parties; and b) stages to be carried out in the implementation of the closing of Offices Abroad in a timely manner, which refers to the process and procedures as per the regulations of the authority in the respective country.

Article 84
(1) OJK provides approval or rejection of the application for approval to close Bank BHI offices as referred to in Article 83.
(2) The approval or rejection as referred to in paragraph (1) is provided within a period of 14 (fourteen) working days from the date the documents as referred to in Article 83 paragraph (3) are received in complete form. (3) To provide approval or rejection of the application for approval as referred to in paragraph (1), OJK conducts research:
a. on the plan to close Bank BHI offices which has been included in the Bank's Business Plan, as referred to in Article 82; and b. on the completeness and conformity of the documents submitted as referred to in Article 83 paragraph (3).

Article 85
(1) Bank BHI that has obtained approval for the closing of offices as referred to in Article 84 from OJK and approval from the authority in the respective country for Offices Abroad, is required to announce the plan to close offices through:
a. a daily newspaper in Indonesian; b. Bank BHI's website; and/or
c. Bank BHI's official social media accounts,
at the latest 5 (five) working days from the date of OJK approval or following the regulations of the authority in the respective country for the closing of Offices Abroad. (2) Bank BHI implements the closing of Bank BHI offices at the latest 30 (thirty) working days from the date of OJK approval, or following the regulations of the authority in the respective country for the closing of Offices Abroad. (3) In the event of force majeure or other considerations acceptable to OJK, the time limit as referred to in paragraph (2) may be extended based on OJK approval. (4) In the event that Bank BHI does not implement the closing of offices after the time limit as referred to in paragraph (2) or paragraph (3), the OJK approval becomes invalid. (5) Bank BHI is required to submit to OJK documents proving the settlement of:
a. rights and obligations of Kanwil to other parties; b. rights and obligations of KC to customers and/or other parties; or
c. rights and obligations of Offices Abroad to customers and/or other parties, and a copy of the approval for the closing of Offices Abroad from the authority in the respective country,

at most 10 (ten) working days from the effective date of closure of the Regional Office, Branch Office, or Office Abroad.
(6) In the event that the closure of Bank BHI offices as referred to in Article 83 is cancelled, Bank BHI is required to submit information regarding the cancellation to the OJK at the latest before the implementation of the closure of Bank BHI offices as referred to in paragraph (2). (7) In the event that the closure of Bank BHI offices as referred to in Article 83 is cancelled and Bank BHI has announced the closure plan as referred to in paragraph (1), Bank BHI is required to announce the cancellation of the closure at the latest before the implementation of the closure of Bank BHI offices as referred to in paragraph (2) through:
a. daily newspapers in the Indonesian language; b. Bank BHI website; and/or
c. official social media accounts of Bank BHI.

Article 86
(1) Bank BHI is required to inform the OJK of the plan to close a Customer Service Office (KCP) or Cash Office (KF) that conducts operational activities at the latest 30 (thirty) working days before the effective date of closure. (2) Bank BHI is required to announce the plan to close a KCP or KF that conducts operational activities as referred to in paragraph (1) through:
a. notice at the office location; b. daily newspapers in the Indonesian language;
c. Bank BHI website; and/or
d. official social media accounts of Bank BHI, at least 5 (five) working days after the date of submission of information to the OJK as referred to in paragraph (1).
(3) Bank BHI is required to inform the OJK of the plan to close a KF that conducts non-operational activities at the latest 10 (ten) working days before the effective date of closure.

(4) In the event that the closure of offices as referred to in paragraph (1) and/or paragraph (3) is cancelled, Bank BHI is required to submit information regarding the cancellation to the OJK at the latest on the effective date of closure as referred to in paragraph (1). (5) In the event that the closure of offices as referred to in paragraph (1) is cancelled and an announcement has been made as referred to in paragraph (2), Bank BHI is required to announce the cancellation of the plan to close Bank BHI offices through:
a. notice at the office location; b. daily newspapers in the Indonesian language;
c. Bank BHI website; and/or
d. official social media accounts of Bank BHI, at the latest on the effective date of closure as referred to in paragraph (1).

Article 87
(1) Bank BHI may conduct a temporary closure of Bank BHI offices other than Main Offices (KP) due to force majeure or other conditions in accordance with Bank BHI's needs. (2) Bank BHI is required to inform the OJK of the temporary closure of Bank BHI offices other than KP as referred to in paragraph (1) at the latest at the time of the implementation of the temporary closure. (3) Bank BHI guarantees the provision of customer services through the support of the banking service network owned by Bank BHI in relation to the temporary closure of Bank BHI offices other than KP as referred to in paragraph (1). (4) In the event that the temporary closure of Bank BHI offices other than KP as referred to in paragraph (1) will be resolved and will return to effective operation, Bank BHI is required to inform the OJK at the latest on the date of return to effective operation. (5) Temporary closure of Offices Abroad also follows the regulations of the local country's authority.

Article 88
Bank BHI is responsible for the settlement of all rights and obligations regarding the closure of the Bank BHI office network to customers and/or other parties, including if there are claims in the future.

Part Six
Postponement or Cancellation by the Financial Services Authority
Article 89
Based on OJK's considerations, Bank BHI is required to postpone or cancel plans for the opening, status change, address relocation, cancellation of address relocation, closure, and/or cancellation of closure of the Bank BHI office network.

Part Seven
Administrative Sanctions
Article 90
(1) Bank BHI that violates the provisions as referred to in Article 59 paragraph (2), Article 60, Article 61 paragraph (1), Article 64 paragraph (1), Article 67 paragraph (3), Article 68 paragraph (3), Article 69 paragraph (1), Article 71 paragraph (4), Article 73 paragraph (1), Article 74 paragraph (1), paragraph (2), paragraph (4), Article 76, Article 77 paragraph (1), Article 79 paragraph (1), paragraph (5), paragraph (6), paragraph (7), paragraph (8), Article 80 paragraph (2), paragraph (5), Article 81 paragraph (2), paragraph (3), Article 82, Article 83 paragraph (1), Article 85 paragraph (1), paragraph (5), paragraph (6), paragraph (7), Article 86 paragraph (2), paragraph (5), Article 87 paragraph (2), paragraph (4), and/or Article 89, shall be subject to administrative sanctions in the form of a written warning. (2) Bank BHI that is late in fulfilling the obligation to submit information or documents as referred to in Article 71 paragraph (4), Article 79 paragraph (5), paragraph (7), Article 81 paragraph (2), paragraph (3), Article 85 paragraph (5), Article 87 paragraph (2), and/or paragraph (4), shall be subject to administrative sanctions in the form of a fine of Rp1,000,000.00 (one million rupiah) per working day and at most Rp30,000,000.00 (thirty million rupiah). (3) In the event that Bank BHI has been subject to administrative sanctions as referred to in paragraph (1) and/or paragraph (2), and has not fulfilled the provisions as referred to in Article 59 paragraph (2), Article 60, Article 61 paragraph (1), Article 64 paragraph (1), Article 67 paragraph (3), Article 68 paragraph (3), Article 69 paragraph (1), Article 71 paragraph (4), Article 73 paragraph (1), Article 74 paragraph (1), paragraph (2), paragraph (4), Article 76, Article 77 paragraph (1), Article 79 paragraph (1), paragraph (5), paragraph (6), paragraph (7), paragraph (8), Article 80 paragraph (2), paragraph (5), Article 81 paragraph (2), paragraph (3), Article 82, Article 83 paragraph (1), Article 85 paragraph (1), paragraph (5), paragraph (6), paragraph (7), Article 86 paragraph (2), paragraph (5), Article 87 paragraph (2), paragraph (4), and/or Article 89, Bank BHI shall be subject to administrative sanctions in the form of:
a. prohibition on conducting business expansion activities; and/or b. suspension of certain business activities.
(4) In the event that Bank BHI has been subject to administrative sanctions as referred to in paragraph (1) and/or paragraph (2), and violates the provisions as referred to in Article 59 paragraph (2), Article 60, Article 61 paragraph (1), Article 64 paragraph (1), Article 67 paragraph (3), Article 68 paragraph (3), Article 69 paragraph (1), Article 71 paragraph (4), Article 73 paragraph (1), Article 74 paragraph (1), paragraph (2), paragraph (4), Article 76, Article 77 paragraph (1), Article 79 paragraph (1), paragraph (5), paragraph (6), paragraph (7), paragraph (8), Article 80 paragraph (2), paragraph (5), Article 81 paragraph (2), paragraph (3), Article 82, Article 83 paragraph (1), Article 85 paragraph (1), paragraph (5), paragraph (6), paragraph (7), Article 86 paragraph (2), paragraph (5), Article 87 paragraph (2), paragraph (4), Article 89 paragraph (2), and/or paragraph (3), PSP, Board of Directors, Board of Commissioners, and/or Executive Officials of Bank BHI may be subject to administrative sanctions in the form of prohibition as a principal party in accordance with OJK Regulations regarding re-evaluation for principal parties of financial service institutions. (5) Bank BHI that violates the provisions as referred to in Article 80 paragraph (1), paragraph (3), paragraph (4), Article 86 paragraph (1), paragraph (3), and/or paragraph (4), shall be subject to administrative sanctions in accordance with OJK Regulations regarding electronic licensing in the financial service sector. (6) Bank BHI that violates the provisions as referred to in Article 58 paragraph (2), Article 63 paragraph (4), Article 66 paragraph (4), Article 67 paragraph (2), Article 68 paragraph (2), Article 71 paragraph (5), and/or Article 74 paragraph (5), shall be subject to administrative sanctions in accordance with OJK Regulations regarding bank reporting through the OJK reporting system.

CHAPTER VIII
CHANGE OF NAME AND LOGO OF INDONESIAN LEGAL ENTITY BANKS
Part One
Change of Name of Indonesian Legal Entity Banks
Article 91
(1) Change of name of Bank BHI must be implemented in accordance with applicable legislation.
(2) Bank BHI is required to submit the plan for change of name of Bank BHI to the OJK accompanied by supporting documents, simultaneously with the submission of the application for change of name by Bank BHI to the competent authority. (3) Bank BHI is required to submit the document of approval for the change of articles of association from the competent authority to the OJK at the latest 5 (five) working days after Bank BHI receives the approval or receipt of notification of change of articles of association from the competent authority. (4) OJK issues a determination of the use of the business license held by Bank BHI with the new name at the latest 14 (fourteen) working days after the document of approval from the competent authority is received completely. (5) Bank BHI is required to announce the change of name of Bank BHI to the public through:
a. daily newspapers in the Indonesian language; b. Bank BHI website; and/or
c. official social media accounts of Bank BHI,
at the latest 5 (five) working days after the date of OJK determination as referred to in paragraph (4).
(6) Bank BHI is required to submit proof of announcement as referred to in paragraph (5) to the OJK at the latest 10 (ten) working days from the date of announcement.

Part Two
Change of Logo of Indonesian Legal Entity Banks
Article 92
(1) Bank BHI is required to submit the plan for change of logo of Bank BHI to the OJK accompanied by:
a. design of the new logo; and b. effective date of logo change.
(2) Bank BHI is required to announce the change of logo of Bank BHI as referred to in paragraph (1) to the public through:
a. daily newspapers in the Indonesian language; b. Bank BHI website; and/or
c. official social media accounts of Bank BHI,
at the latest 5 (five) working days after the effective date of logo change.
(3) Bank BHI is required to inform the OJK of the implementation of the logo change at the latest 10 (ten) working days from the effective date of logo change as referred to in paragraph (1) letter b. (4) Submission of information as referred to in paragraph (3) must be accompanied by submission of proof of announcement to the public as referred to in paragraph (2) and supporting documents, if any.

Article 93
(1) Bank BHI that violates the provisions as referred to in Article 91 paragraph (1), paragraph (2), paragraph (3), paragraph (5), paragraph (6), and/or Article 92 shall be subject to administrative sanctions in the form of a written warning. (2) Bank BHI that is late in fulfilling the obligation to submit proof of announcement or submission of information as referred to in Article 91 paragraph (6) and/or Article 92 paragraph (3) shall be subject to administrative sanctions in the form of a fine of Rp1,000,000.00 (one million rupiah) per working day and at most Rp30,000,000.00 (thirty million rupiah). (3) In the event that Bank BHI has been subject to administrative sanctions as referred to in paragraph (1) and/or paragraph (2), and has not fulfilled the provisions as referred to in Article 91 paragraph (1), paragraph (2), paragraph (3), paragraph (5), paragraph (6), and/or Article 92, Bank BHI shall be subject to administrative sanctions in the form of:
a. prohibition on conducting business expansion activities; and/or b. suspension of certain business activities.
(4) In the event that Bank BHI has been subject to administrative sanctions as referred to in paragraph (1) and/or paragraph (2) and violates the provisions as referred to in Article 91 paragraph (1), paragraph (2), paragraph (3), paragraph (5), paragraph (6), Article 92 paragraph (2), and/or paragraph (3), PSP, Board of Directors, Board of Commissioners, and/or Executive Officials of Bank BHI may be subject to administrative sanctions in the form of prohibition as a principal party in accordance with OJK Regulations regarding re-evaluation for principal parties of financial service institutions.

CHAPTER IX
CHANGE OF BUSINESS ACTIVITIES AND ARTICLES OF ASSOCIATION OF INDONESIAN LEGAL ENTITY BANKS
Article 94
(1) Change of business activities of Bank BHI to become a general bank that conducts business activities based on Sharia principles and the opening of Bank BHI offices that conduct business activities based on Sharia principles shall be implemented in accordance with applicable legislation. (2) Bank BHI documents before the change of business activities must be administered at the time Bank BHI has become a general bank that conducts business activities based on Sharia principles.

Article 95
Bank BHI is required to report to the OJK every change of articles of association of Bank BHI at the latest 10 (ten) working days after the date of implementation of operational activities, after receiving approval or notification of change of articles of association from the competent authority, accompanied by the deed of change of articles of association.

Article 96
(1) Bank BHI that violates the provisions as referred to in Article 94 paragraph (2) and/or Article 95 shall be subject to administrative sanctions in the form of a written warning. (2) Bank BHI that is late in fulfilling the obligation to submit reports as referred to in Article 95 shall be subject to administrative sanctions in the form of a fine of Rp1,000,000.00 (one million rupiah) per working day and at most Rp30,000,000.00 (thirty million rupiah). (3) In the event that Bank BHI has been subject to administrative sanctions as referred to in paragraph (1) and/or paragraph (2), and has not fulfilled the provisions as referred to in Article 94 paragraph (2) and/or Article 95, Bank BHI shall be subject to administrative sanctions in the form of:
a. prohibition on conducting business expansion activities; and/or b. suspension of certain business activities.
(4) In the event that Bank BHI has been subject to administrative sanctions as referred to in paragraph (1) and/or paragraph (2) and violates the provisions as referred to in Article 94 paragraph (2), and/or Article 95 paragraph (2), and/or paragraph (3), PSP, Board of Directors, Board of Commissioners, and/or Executive Officials of Bank BHI may be subject to administrative sanctions in the form of prohibition as a principal party in accordance with OJK Regulations regarding re-evaluation for principal parties of financial service institutions.

CHAPTER X
CHANGE OF LEGAL ENTITY FORM OF INDONESIAN LEGAL ENTITY BANKS
Article 97
(1) Change of legal entity form of Bank BHI must be done with OJK approval.
(2) Change of legal entity form of Bank BHI as referred to in paragraph (1) can only be done by Bank BHI with a legal entity form other than a limited liability company (Perseroan Terbatas) becoming a limited liability company. (3) Licensing for the change of legal entity form of Bank BHI as referred to in paragraph (1) is conducted in 2 (two) stages:
a. principle approval, which is approval to conduct preparations for the change of legal entity form of Bank BHI; and b. approval of business license transfer, which is approval given to transfer the business license from a legal entity other than a limited liability company to a limited liability company legal entity.

Article 98
(1) An application to obtain principle approval for the change of legal entity form of Bank BHI as referred to in Article 97 paragraph (3) letter a is submitted by Bank BHI to the OJK accompanied by:
a. reasons for the change of legal entity form; b. minutes of the General Meeting of Shareholders of the legal entity other than a limited liability company approving the change of legal entity form to a limited liability company;
c. draft deed of establishment of the limited liability company legal entity including articles of association;
d. plan for the transfer of all rights and obligations from the legal entity other than a limited liability company to the limited liability company legal entity; e. list of candidate PSPs, composition of candidate Board of Directors, and/or candidate Board of Commissioners accompanied by fulfillment of administrative requirement documents in accordance with OJK regulations regarding assessment of competence and propriety for principal parties of financial service institutions, if there is a change; and f. ownership data in the form of a list of candidate shareholders along with details of the amount of each share ownership. (2) To grant approval or rejection of the principle approval application as referred to in paragraph (1), OJK conducts:
a. examination of document completeness and suitability; and b. assessment of competence and propriety for the parties as referred to in paragraph (1) letter e.
(3) Approval or rejection of the principle approval application as referred to in paragraph (2) is granted by OJK at the latest 30 (thirty) working days after the application documents are received completely. (4) OJK approval for the principle approval application as referred to in paragraph (3) is valid for at most 3 (three) months from the date the approval is issued.

(5) In the event of force majeure or other considerations acceptable to OJK, the time period as referred to in paragraph (4) may be extended based on OJK approval.
(6) In the event that Bank BHI that has obtained principle approval has not submitted an application for business license transfer within the time period as referred to in paragraph (4) and paragraph (5), the principle approval issued by OJK becomes invalid.

Article 99
(1) An application for the transfer of the business license of the Bank from the previous legal entity to the new legal entity as referred to in Article 97 paragraph (3) letter b is submitted by Bank BHI that has obtained principle approval to the OJK, accompanied by:
a. deed of establishment of the new legal entity including articles of association that have been approved by the competent authority; b. fulfillment as referred to in Article 98 paragraph (1) letter e and letter f if there is a change; and
c. draft minutes of the transfer of all rights and obligations from the previous legal entity to the new legal entity.
(2) To grant approval or rejection of the application as referred to in paragraph (1), OJK conducts:
a. examination of document completeness and suitability; and b. assessment of competence and propriety in the event there is a replacement of candidate PSPs, Board of Directors, and Board of Commissioners submitted during the principle approval application. (3) Approval or rejection of the application for transfer of business license from the previous legal entity to the new legal entity is granted by OJK at the latest 30 (thirty) working days after the application documents are received completely. (4) Implementation of the change of legal entity form of Bank BHI must be announced through:
a. daily newspapers in the Indonesian language; b. Bank BHI website; and/or
c. official social media accounts of Bank BHI,
at the latest 5 (five) working days after the date of approval of business license transfer from OJK.

Article 100
(1) Bank BHI that violates the provisions as referred to in Article 97 paragraph (1) and/or Article 99 paragraph (4) shall be subject to administrative sanctions in the form of a written warning. (2) In the event that Bank BHI has been subject to administrative sanctions as referred to in paragraph (1), and has not fulfilled the provisions as referred to in Article 97 paragraph (1) and/or Article 99 paragraph (4), Bank BHI shall be subject to administrative sanctions in the form of:
a. prohibition on conducting business expansion activities; and/or b. suspension of certain business activities.
(3) In the event that Bank BHI has been subject to administrative sanctions as referred to in paragraph (1) and/or paragraph (2) and violates the provisions as referred to in Article 97 paragraph (1), Article 99 paragraph (4), and/or paragraph (2), PSP, Board of Directors, Board of Commissioners, and/or Executive Officials of Bank BHI may be subject to administrative sanctions in the form of prohibition as a principal party in accordance with OJK Regulations regarding re-evaluation for principal parties of financial service institutions.

CHAPTER XI
BRANCH OFFICES OF BANKS LOCATED ABROAD
Part One
General
Article 101
(1) Banks with headquarters and located abroad that will open Branch Offices Abroad (KCBLN) must:
a. have good performance and reputation; b. have a commitment to contribute to the Indonesian economy;
c. have total assets included in the top 100 (one hundred) globally in the last 3 (three) years; and
d. meet a minimum CEMA of at least Rp10,000,000,000,000.00 (ten trillion rupiah).
(2) OJK may set a different minimum CEMA from that established as in paragraph (1) letter d with specific considerations.

Part Two
Licensing
Article 102
Licensing for the opening of KCBLN is conducted in 2 (two) stages:
a. principle approval, which is approval to conduct preparations for the opening of KCBLN; and b. business license, which is a license given to conduct KCBLN business activities after preparations as referred to in letter a are completed.

Article 103
(1) An application to obtain principle approval as referred to in Article 102 letter a is submitted by the authorized official of the bank located abroad to the OJK, accompanied by:
a. copy of the deed of establishment of the legal entity of the bank located abroad, including articles of association that have been approved by the competent authority in the local country, accompanied by a translation in Indonesian or English; b. copy of documents and/or official information related to the business license of the bank located abroad issued by the local country's authority;
c. copy of documents stating that the bank located abroad:

has good performance and reputation; and
has total assets included in the top 100 (one hundred) globally in the last 3 (three) years;
d. copy of documents and/or approval from the banking authority of the bank's headquarters to open a KCBLN in Indonesia; e. consolidated financial statements for the last 3 (three) years from the bank located abroad, which have been audited by an independent international public accounting firm; f. latest financial statements from the bank located abroad; g. copy of documents stating the health level of the bank located abroad for the last 3 (three) years from the local country's authority; h. list of composition of candidate Board of Directors of KCBLN accompanied by fulfillment of administrative requirement documents in accordance with OJK regulations regarding assessment of competence and propriety for principal parties of financial service institutions;
i. plan for the composition and organizational structure as well as human resources of KCBLN;
j. feasibility study for the opening of KCBLN prepared by an independent party, accompanied by a business plan; k. KCBLN corporate plan;
l. statement letter from the authorized official of the bank located abroad stating the commitment of KCBLN to contribute to the Indonesian economy;
m. risk management guidelines, internal control systems, information technology systems used, and guidelines regarding the implementation of governance of KCBLN; n. systems and work procedures of KCBLN; o. list of names of correspondent banks in Indonesia; p. proof of initial deposit to fulfill the minimum CEMA of at least 40% (forty percent) of the CEMA requirements as referred to in Article 101 paragraph (1) letter d or Article 101 paragraph (2) in the form of a copy of a deposit receipt at Bank BHI in Indonesia and in the name of "Commissioners of OJK qq. the corresponding KCBLN", stating that disbursement is done with written approval from OJK; and q. statement letter from the KCBLN headquarters that the CEMA deposit as referred to in letter p does not originate from and is not for the purpose of money laundering. (2) The principle approval application as referred to in paragraph (1) is submitted in Indonesian and English.

Article 104
(1) Approval or rejection of the principle approval application as referred to in Article 102 letter a is granted by OJK at the latest 60 (sixty) working days after the application documents are received completely. (2) To grant approval or rejection as referred to in paragraph (1), OJK conducts:
a. examination of document completeness and suitability;

b. an analysis covering at least the level of healthy competition among banks, the saturation level of the number of banks, and the equitable distribution of Indonesia's economic development; and

c. an assessment of the competence and propriety of the prospective Directors of the KCBLN.

Article 105
(1) The principle approval as referred to in Article 104 is valid for a period of 6 (six) months calculated from the date of issuance of the principle approval.
(2) Parties that have obtained principle approval as referred to in paragraph (1) are prohibited from conducting banking business activities before obtaining a business license. (3) In the event of force majeure or other considerations acceptable to OJK, the time period as referred to in paragraph (1) may be extended based on OJK's approval. (4) In the event that the party that has obtained principle approval has not submitted a business license application to OJK within the time period as referred to in paragraph (1) or paragraph (3), the principle approval issued by OJK becomes invalid. (5) Without prejudice to criminal sanctions in accordance with applicable legislation, parties violating the provisions as referred to in paragraph (2) shall be subject to administrative sanctions in the form of cancellation of the licensing process for the opening of the KCBLN.

Article 106
(1) Applications for business licenses as referred to in Article 102 letter b are submitted by parties that have obtained principle approval to OJK, accompanied by:

a. documents as referred to in Article 103 paragraph (1) letters h to k, letter m, and letter n if changes have occurred; b. documents as referred to in Article 103 paragraph (1) letter i, letter m, and letter n in the Indonesian language;
c. proof of settlement of CEMA as referred to in Article 101 paragraph (1) letter d or paragraph (2), in the form of a copy of a deposit receipt at Bank BHI in Indonesia and in the name of "Dewan Komisioner OJK qq. KCBLN yang bersangkutan", stating that disbursement is carried out after obtaining written approval from OJK;
d. proof of operational readiness at least consisting of:

a list of fixed assets and inventory;
proof of ownership, control, or lease agreements for office buildings;
photos of the office building and room layout;
examples of forms or instruments to be used for KCBLN operations;
Taxpayer Identification Number (NPWP); and
Business Identification Number (NIB);
e. a statement letter from the KCBLN headquarters that the minimum CEMA settlement as referred to in letter c does not originate from and is not for the purpose of money laundering. (2) Business license applications as referred to in paragraph (1) are submitted in the Indonesian language and the English language.

Article 107
(1) Approval or rejection of business license applications as referred to in Article 102 letter b is given by OJK within a maximum of 60 (sixty) working days after the application documents are received in complete form. (2) To provide approval or rejection of applications as referred to in paragraph (1), OJK conducts:
a. research on the completeness and conformity of documents; and b. assessment of competence and propriety if there are replacements for the prospective Directors of the KCBLN submitted at the time of the principle approval application.

Article 108
(1) KCBLNs that have obtained business licenses from OJK must conduct banking business activities within a maximum of 60 (sixty) working days calculated from the date of issuance of the business license. (2) The Directors of the KCBLN are required to report the implementation of business activities as referred to in paragraph (1) to OJK with a deadline of a maximum of 10 (ten) working days after the date of operational activity implementation. (3) In the event of force majeure or other considerations acceptable to OJK, the time period as referred to in paragraph (1) may be extended based on OJK's approval. (4) In the event that KCBLNs that have obtained business licenses have not conducted business activities within the time period as referred to in paragraph (1) or paragraph (3), the business licenses and principle approvals issued by OJK become invalid.

Third Section
Office Network of Branches of Banks Domiciled Abroad

Article 109
(1) The office network of KCBLN consists of KCBLN, KCP, KF, and offices below KCP.
(2) To expand services to customers, KCBLN may provide TPE.

Article 110
(1) Provisions regarding the office network of Bank BHI other than KP and Kanwil conducting service and operational activities to customers using electronic channels and/or providing TPE, whether wholly or partially as referred to in Article 57, apply mutatis mutandis to the office network of KCBLN other than KCBLN. (2) Provisions regarding the analysis of the plan to open offices of Bank BHI other than KP and the provision of TPE, including administrative document analysis as referred to in Article 59 and Article 90, apply mutatis mutandis to the plan to open offices of KCBLN other than KCBLN and the provision of TPE. (3) Provisions regarding the opening, status change, address relocation, cancellation of address relocation, closure, and/or cancellation of closure of Bank BHI offices in the form of KC as referred to in Article 60, Article 64, Article 65, Article 66, Article 73, Article 74, Article 75, Article 80, Article 82, Article 83, Article 84, Article 85, Article 88, and Article 90 apply mutatis mutandis to the opening, status change, address relocation, cancellation of address relocation, closure, and/or cancellation of closure of offices below KCBLN in the form of KCP. (4) Provisions regarding the opening, status change, address relocation, cancellation of address relocation, closure, and/or cancellation of closure of Bank BHI offices in the form of KCP as referred to in Article 67, Article 73, Article 74, Article 75, Article 80, Article 86, Article 88, and Article 90 apply mutatis mutandis to the opening, status change, address relocation, cancellation of address relocation, closure, and/or cancellation of closure of offices below KCBLN in the form of offices below KCP. (5) Provisions regarding the opening, status change, address relocation, cancellation of address relocation, closure, and/or cancellation of closure of Bank BHI offices in the form of KF as referred to in Article 68, Article 75, Article 80, Article 86, Article 88, and Article 90 apply mutatis mutandis to the opening, status change, address relocation, cancellation of address relocation, closure, and/or cancellation of closure of offices below KCBLN in the form of KF. (6) Provisions regarding the relocation of the address of Bank BHI Headquarters resulting in a change of domicile in the articles of association as referred to in Article 76, Article 77, Article 78, Article 79, and Article 90 apply mutatis mutandis to the relocation of the address of KCBLN to a different province. (7) Provisions regarding the relocation of the address of Bank BHI Headquarters not resulting in a change of domicile in the articles of association as referred to in Article 80 and Article 90 apply mutatis mutandis to the relocation of the address of KCBLN within the same province. (8) Provisions regarding the temporary relocation of the address of Bank BHI offices as referred to in Article 81 and Article 90 apply mutatis mutandis to the temporary relocation of the address of the KCBLN office
network. (9) Provisions regarding the temporary closure of Bank BHI offices other than KP as referred to in Article 87 and Article 90 apply mutatis mutandis to the temporary closure of the KCBLN office network other than KCBLN.

Article 111
(1) KCBLN designates an office or organizational unit responsible as the manager for the TPE provided.
(2) KCBLN is required to report the provision, address relocation, or termination of TPE provision to OJK after the implementation of the provision, address relocation, or termination of TPE provision.

Article 112
Based on OJK's considerations, KCBLN is required to postpone or cancel plans to open offices, change status, relocate addresses, cancel address relocations, close offices, and/or cancel closures of the KCBLN office network.

Fourth Section
Changes to Name, Legal Form, and Logo of Branches of Banks Domiciled Abroad

Article 113
(1) KCBLN is required to submit changes to the name and/or legal form of the KCBLN headquarters to OJK within a maximum of 30 (thirty) working days after the name and/or legal form change is approved by the local country's authority, accompanied by supporting documents. (2) OJK issues a determination of the use of the business license held for KCBLN with the new name within a maximum of 14 (fourteen) working days after the documents are received in complete form. (3) KCBLN is required to announce changes to the name and/or legal form of the KCBLN headquarters to the public through:
a. daily newspapers in the Indonesian language; b. the KCBLN website; and/or
c. the official KCBLN social media accounts,
within a maximum of 5 (five) working days from the date of OJK's determination as referred to in paragraph (2).
(4) Proof of announcement to the public as referred to in paragraph (3) is required to be submitted to OJK within a maximum of 10 (ten) working days from the date of the announcement.

Article 114
(1) KCBLN is required to announce logo changes to the public through:
a. daily newspapers in the Indonesian language; b. the KCBLN website; and/or
c. the official KCBLN social media accounts,
within a maximum of 5 (five) working days after the effective date of the logo change in Indonesia.
(2) KCBLN is required to inform OJK of the implementation of the logo change within a maximum of 10 (ten) working days from the effective date of the logo change in Indonesia as referred to in paragraph (1). (3) The submission of information as referred to in paragraph (2) must be accompanied by proof of announcement to the public as referred to in paragraph (1) and supporting documents.

Article 115
(1) KCBLNs violating the provisions regulated in Article 108 paragraph (2), Article 111 paragraph (2), Article 112, Article 113 paragraph (1), paragraph (3), paragraph (4), and/or Article 114 shall be subject to administrative sanctions in the form of written reprimands. (2) KCBLNs that are late in fulfilling the obligations to submit reports, information, or proof of announcement as referred to in Article 108 paragraph (2), Article 113 paragraph (1), paragraph (4), and/or Article 114 paragraph (2) shall be subject to administrative sanctions in the form of fines of Rp1,000,000.00 (one million rupiah) per working day and a maximum of Rp30,000,000.00 (thirty million rupiah). (3) In the event that KCBLNs have been subject to administrative sanctions as referred to in paragraph (1) and/or paragraph (2), and have not fulfilled the provisions as referred to in Article 108 paragraph (2), Article 111 paragraph (2), Article 112, Article 113 paragraph (1), paragraph (3), paragraph (4), and/or Article 114, KCBLNs shall be subject to administrative sanctions in the form of:
a. prohibition on expanding business activities; and/or b. suspension of certain business activities.
(4) In the event that KCBLNs have been subject to administrative sanctions as referred to in paragraph (1) and/or paragraph (2) and violate the provisions as referred to in Article 108 paragraph (2), Article 111 paragraph (2), Article 112, Article 113 paragraph (1), paragraph (3), paragraph (4), Article 114 paragraph (2), and/or paragraph (3), the Directors and/or Executive Officials of the KCBLN may be subject to administrative sanctions in the form of prohibition as principal parties in accordance with OJK Regulations regarding re-evaluation of principal parties of financial service institutions.

CHAPTER XII
REPRESENTATIVE OFFICES OF BANKS DOMICILED ABROAD

Article 116
(1) Banks with headquarters and domiciled abroad that will open KPBLN must:
a. have good performance and reputation; b. have a commitment to contribute to the Indonesian economy;
c. have total assets including in the top 200 (two hundred) largest in the world in the last 3 (three) years; and
d. place deposits in the name of “Dewan Komisioner OJK qq. KPBLN” at Bank BHI of at least Rp3,000,000,000,000.00 (three trillion rupiah), stating that disbursement is carried out upon the closure of KPBLN and with written approval from OJK. (2) Applications for permission to open KPBLN as referred to in paragraph (1) are submitted by the authorized official of the bank domiciled abroad to OJK, accompanied by:
a. the purpose of opening KPBLN in Indonesia; b. copies of the articles of incorporation of the bank domiciled abroad, including the articles of association approved by the competent authority in the local country, accompanied by their translation in the Indonesian language or English language;
c. copies of documents and/or official information related to the business license of the bank domiciled abroad issued by the local country's authority;
d. copies of documents stating that the bank domiciled abroad:

has good performance and reputation; and
has total assets including in the top 200 (two hundred) largest in the world in the last 3 (three) years;
e. copies of documents and/or approvals from the banking authority of the bank's headquarters to open KPBLN in Indonesia; f. consolidated financial reports for the last 3 (three) years from the bank domiciled abroad, which have been audited by an independent international public accounting firm; g. the most recent financial reports from the bank domiciled abroad; h. prospective leaders of KPBLN accompanied by the fulfillment of administrative requirement documents in accordance with OJK regulations regarding the assessment of competence and propriety for principal parties of financial service institutions;
i. plans for the organizational structure and human resources of KPBLN;
j. a statement letter from the authorized official of the bank domiciled abroad stating the commitment of KPBLN to contribute to the Indonesian economy; k. the work plan of KPBLN for the first 1 (one) year;
l. a list of customers or prospective customers of the bank domiciled abroad in Indonesia along with credit portfolio details;
m. a list of correspondent bank names in Indonesia; and

n. copies of deposit receipts as referred to in paragraph (1) letter d.
(3) Applications for permission to open KPBLN as referred to in paragraph (2) are submitted in the Indonesian language and the English language.

Article 117
(1) Approval or rejection of applications for permission to open KPBLN as referred to in Article 116 is given by OJK within a maximum of 30 (thirty) working days after the application documents are received in complete form. (2) To provide approval or rejection as referred to in paragraph (1), OJK conducts:
a. research on the completeness and conformity of documents; and b. assessment of competence and propriety of the prospective leaders of KPBLN.
(3) In the event that KPBLNs that have obtained opening permissions have not conducted activities as KPBLN within 60 (sixty) working days from the date of the opening permission from OJK, the opening permissions for KPBLN issued by OJK become invalid.

Article 118
(1) Activities that can be conducted by KPBLN:
a. providing information to third parties regarding conditions and procedures for establishing relationships with headquarters or branches abroad; b. assisting headquarters or branches abroad in monitoring credit collateral located in Indonesia;
c. acting as an attorney-in-fact in contacting agencies or institutions for the needs of headquarters or branches abroad;

d. acting as supervisors for projects partially or wholly financed by headquarters or branches abroad; e. conducting promotional activities to introduce the bank domiciled abroad; f. providing information regarding the Indonesian economy, finance, and/or trade to foreign parties or vice versa; g. assisting Indonesian exporters in obtaining market access abroad through the international network owned by KPBLN or vice versa; h. encouraging increased financing from abroad in Indonesia to finance projects in priority sectors and regions; and/or
i. other activities in accordance with OJK's considerations and/or policies.
(2) KPBLN is prohibited from conducting banking business activities.
(3) Violations of the provisions as referred to in paragraph (2) shall be subject to administrative sanctions in the form of:
a. prohibition as principal parties for the leaders of KPBLN in accordance with OJK Regulations regarding re-evaluation of principal parties of financial service institutions; and b. closure of KPBLN.

Article 119
(1) KPBLN is required to submit reports to OJK regarding debtors in Indonesia receiving loans and/or obtaining bank guarantees from headquarters or branches abroad.
(2) Reports as referred to in paragraph (1) for the end positions of March, June, September, and December are required to be submitted within a maximum of 5 (five) working days of the following month.

Article 120
(1) KPBLN is required to submit work plans for the next 1 (one) year to OJK.
(2) The KPBLN work plan as referred to in paragraph (1) contains details of activities to be conducted by KPBLN for the next 1 (one) year with reference to KPBLN activities as referred to in Article 118 paragraph (1). (3) KPBLN is required to submit the work plan as referred to in paragraph (1), signed by the leader of KPBLN, to OJK no later than the end of November.

Article 121
KPBLN is required to report the relocation of the KPBLN address to OJK within a maximum of 10 (ten) working days after the effective date of the KPBLN address relocation implementation.

Article 122
(1) The leader of KPBLN is required to submit changes to the name and/or legal form of the KPBLN headquarters to OJK within a maximum of 30 (thirty) working days after the name and/or legal form change is approved by the local country's authority, accompanied by supporting documents. (2) OJK issues a determination of the KPBLN name with the new name within a maximum of 14 (fourteen) working days after the supporting documents are received in complete form.

Article 123
(1) KPBLNs violating the provisions as referred to in Article 119, Article 120 paragraph (1), paragraph (3), Article 121, and/or Article 122 paragraph (1) shall be subject to administrative sanctions in the form of written reprimands. (2) KPBLNs that are late in fulfilling the obligations to submit reports, information, or documents as referred to in Article 119 paragraph (2), Article 120 paragraph (3), Article 121, and/or Article 122 paragraph (1) shall be subject to administrative sanctions in the form of fines of Rp1,000,000.00 (one million rupiah) per working day and a maximum of Rp30,000,000.00 (thirty million rupiah). (3) In the event that KPBLNs have been subject to administrative sanctions as referred to in paragraph (1) and/or paragraph (2), and have not fulfilled the provisions as referred to in Article 119, Article 120 paragraph (1), paragraph (3), Article 121, and/or Article 122 paragraph (1), KPBLNs shall be subject to administrative sanctions in the form of restrictions and/or prohibitions on conducting KPBLN activities. (4) In the event that KPBLNs have been subject to administrative sanctions as referred to in paragraph (1) and/or paragraph (2) and violate the provisions as referred to in Article 119, Article 120 paragraph (1), paragraph (3), Article 121, Article 122 paragraph (1), paragraph (2), and/or paragraph (3), the leaders of KPBLN may be subject to administrative sanctions in the form of prohibition as principal parties in accordance with OJK Regulations regarding re-evaluation of principal parties of financial service institutions.

CHAPTER XIII
REVOCATION OF BUSINESS LICENSES OF INDONESIAN LEGAL ENTITY BANKS OR REVOCATION OF BUSINESS LICENSES OF BRANCHES OF BANKS DOMICILED ABROAD OR CLOSURE OF REPRESENTATIVE OFFICES OF BANKS DOMICILED ABROAD

First Section
General Provisions

Article 124
(1) OJK conducts the revocation of business licenses of Bank BHI or the revocation of business licenses of KCBLN or the closure of KPBLN.
(2) The revocation of business licenses of Bank BHI or the revocation of business licenses of KCBLN or the closure of KPBLN as referred to in paragraph (1) is based on:

a. requests from owners or shareholders of Bank BHI to conduct:

revocation of the business license of Bank BHI including intermediary banks; or
revocation of the business license of Bank BHI in connection with changes in business activities to become rural credit banks or Islamic rural financing banks;
b. requests from the headquarters of KCBLN or KPBLN;
c. the business license of the headquarters of KCBLN or KPBLN is revoked or liquidated by the local country's authority; or
d. as a follow-up to the resolution of Bank BHI or KCBLN by competent authorities.

Article 125
In the event that Bank BHI or KCBLN meets the requirements:
a. is not under special supervision; and b. implements stages in the revocation of business licenses in accordance with these OJK Regulations, OJK conducts the revocation of business licenses of Bank BHI or the revocation of business licenses of KCBLN as referred to in Article 124 paragraph (2) letter a number 1) and letter b.

Article 126
(1) The revocation of business licenses for Bank BHI or the revocation of business licenses for KCBLN as referred to in Article 124 paragraph (2) letter a number 1) and letter b is conducted in 2 (two) stages:
a. approval for the preparation of business license revocation; and b. decision on the revocation of business licenses.
(2) The closure of KPBLN is conducted by issuing a decision on the closure of KPBLN.

Second Section
Implementation of Business License Revocation
Paragraph 1
Revocation of Business Licenses of Indonesian Legal Entity Banks or Revocation of Business Licenses of Branches of Banks Domiciled Abroad

Article 127
(1) The Directors of Bank BHI or the leaders of KCBLN submit applications for approval for the preparation of business license revocation as referred to in Article 126 paragraph (1) letter a to OJK, accompanied by:
a. reasons for the revocation of business licenses of Bank BHI or the revocation of business licenses of KCBLN; b. minutes of the Annual General Meeting of Shareholders (RUPS) of Bank BHI at least containing decisions approving the plan for the revocation of business licenses and the plan for the dissolution of the legal entity of Bank BHI and instructing the Directors to settle the obligations of Bank BHI, or official decisions from authorized officials at the headquarters of KCBLN at least containing decisions approving the plan for the revocation of business licenses of KCBLN and instructing the Directors of KCBLN to settle the obligations of KCBLN.
c. plans and schedules for settling all rights and obligations of Bank BHI or KCBLN to customers, creditors, and/or other parties;
d. the most recent financial reports of Bank BHI or KCBLN; and e. proof of tax settlement based on inspection results from tax authorities for the last 3 (three) years prior to the date of the application. (2) OJK may request other documents in addition to those referred to in paragraph (1).

Article 128
(1) Based on applications as referred to in Article 127, OJK issues approvals for the preparation of business license revocation of Bank BHI or the preparation of business license revocation of KCBLN within a maximum of 14 (fourteen) working days after the documents are received in complete form, and mandates Bank BHI or KCBLN to:
a. cease all business activities of Bank BHI or KCBLN; b. announce plans for the revocation of business licenses and plans for settling the rights and obligations of Bank BHI or KCBLN through daily newspapers in the Indonesian language, the website of Bank BHI or KCBLN, and/or the official social media accounts of Bank BHI or KCBLN, within a maximum of 5 (five) working days from the date of approval for the preparation of business license revocation from OJK;
c. immediately settle all rights and obligations of Bank BHI or KCBLN according to the settlement schedule as referred to in Article 127 paragraph (1) letter c; and
d. appoint a public accounting firm to verify the settlement of the rights and obligations of Bank BHI or KCBLN as referred to in letter c.
(2) Settlement as referred to in paragraph (1) letter c may consist of the settlement of all rights and obligations of Bank BHI or KCBLN, or the establishment of a settlement scheme for KCBLN. (3) In the event that regulations stipulate that the settlement of rights and obligations of KCBLN can only be conducted after the decision on the revocation of business licenses of KCBLN is issued by OJK, KCBLN may form a settlement team.

Article 129
(1) In the event that all rights and obligations of Bank BHI or KCBLN as referred to in Article 128 paragraph (1) letter c and paragraph (2) have been settled, the Board of Directors of Bank BHI or the Board of Directors of KCBLN submits a request for the revocation of the business license of Bank BHI or KCBLN to the OJK, accompanied by documents containing at least:
a. a report on the implementation of the cessation of business activities of Bank BHI or KCBLN; b. the implementation of the announcement as referred to in Article 128 paragraph (1) letter b;
c. a report on the implementation of the settlement of rights and obligations of Bank BHI or KCBLN, including settlements in the form of a settlement scheme for KCBLN;
d. a report on the results of verification from the public accountant regarding the settlement of rights and obligations of Bank BHI or KCBLN as referred to in letter c; and e. a statement letter from:

shareholders that the steps to settle the obligations of Bank BHI have been completed and that if claims arise in the future, the settlement of the obligations of Bank BHI becomes the responsibility of the shareholders; or
authorized officials of the KCBLN headquarters that:
a) the steps to settle the obligations of KCBLN have been completed, including settlement steps in the form of a settlement scheme; and b) if claims arise in the future, they become the responsibility of the KCBLN headquarters; and
public accountants who state that based on the verification results of the rights and obligations of Bank BHI or KCBLN as referred to in letter d, they have been settled.

(2) Based on the request for the revocation of the business license as referred to in paragraph (1), the OJK conducts an examination of the completeness and conformity of the documents as referred to in paragraph (1). (3) The OJK issues a decision on the revocation of the business license of Bank BHI or KCBLN within a maximum of 30 (thirty) working days after the documents as referred to in paragraph (1) are received in complete form. (4) After the OJK issues a decision on the revocation of the business license of Bank BHI or KCBLN as referred to in paragraph (3):
a. Bank BHI implements the legal entity dissolution process in accordance with applicable laws and regulations; or b. KCBLN implements the KCBLN closure process.
(5) Since the date the business license revocation decision is issued by the OJK, if there are still unsettled obligations in the future, such obligations become the responsibility of the shareholders of Bank BHI or the KCBLN headquarters.

Article 130
The legal entity of Bank BHI as referred to in Article 129 paragraph (4) letter a ends as of the date of the announcement of the end of the legal entity status of Bank BHI in accordance with applicable laws and regulations.

Article 131
The status of the business license of KCBLN ends as of the date of the OJK decision regarding the revocation of the business license of KCBLN as referred to in Article 129 paragraph (3).

Paragraph 2
Closure of Representative Offices of Banks Located Abroad

Article 132
(1) The authorized official at the KPBLN headquarters submits a request for the closure of KPBLN as referred to in Article 124 paragraph (2) letter b to the OJK, accompanied by:
a. reasons for the closure of KPBLN; b. a statement letter that:

the obligations of KPBLN to other parties have been settled, accompanied by proof of settlement and/or including settlement steps in the form of a settlement scheme; and
if claims arise in the future, they become the responsibility of the KPBLN headquarters; and
c. a party in Indonesia appointed to represent KPBLN to settle obligations as included in the settlement scheme.
(2) The OJK's approval or rejection of the request for the closure of KPBLN as referred to in paragraph (1) is provided by the OJK within a maximum of 14 (fourteen) working days after:
a. the request documents are received in complete form; and b. all obligations of KPBLN have been settled, including settlement steps in the form of a settlement scheme.

Part Three
Revocation of Business Licenses as a Bank Resolution Measure

Article 133
(1) The OJK revokes the business license of Bank BHI or KCBLN as a follow-up to Bank resolution.

(2) The procedure for the revocation of the business license of Bank BHI or KCBLN as a follow-up to Bank resolution is implemented in accordance with applicable laws and regulations.

Part Four
Revocation of Business Licenses of Branches of Banks Located Abroad or Closure of Representative Offices of Banks Located Abroad due to Revocation of Business Licenses of Branches of Banks Located Abroad or Representative Offices of Banks Located Abroad by Local State Authorities

Article 134
(1) KCBLN or KPBLN must inform the OJK within a maximum of 3 (three) working days since the headquarters of KCBLN or KPBLN had its business license revoked by the local state authority. (2) In the event that the headquarters of KCBLN or KPBLN has its business license revoked by the local state authority, the OJK determines the revocation of the business license of KCBLN or the closure of KPBLN. (3) With the issuance of the decision on the revocation of the business license of KCBLN or the closure of KPBLN as referred to in paragraph (2):
a. for KCBLN, it is mandatory to:

cease the business activities of KCBLN, including all office networks under it;
settle all rights and obligations; and
obtain approval from the OJK for every legal action taken by KCBLN, including actions that may affect the asset position of KCBLN;
b. for KPBLN, it is mandatory to:
cease KPBLN activities; and
settle all obligations.

(4) The OJK informs the revocation of the business license of KCBLN as referred to in paragraph (2) to the relevant authorities.

Part Five
Resolution Team

Article 135
(1) KCBLN that forms a resolution team as referred to in Article 128 paragraph (3) must submit the composition of the resolution team members to the OJK at the time of submitting the documents as referred to in Article 129 paragraph (1). (2) The composition of the resolution team as referred to in paragraph (1) may originate from KCBLN or the KCBLN headquarters and/or third parties in Indonesia appointed by KCBLN or the KCBLN headquarters. (3) The resolution team as referred to in paragraph (1) is given a settlement time limit of a maximum of 6 (six) months since its formation. (4) In the event that the settlement of rights and obligations of KCBLN whose business license has been revoked cannot be completed within the time limit as referred to in paragraph (3), the settlement is carried out by the KCBLN headquarters.

Part Six
Follow-up on Revocation of Business Licenses

Article 136
For Bank BHI whose business license has been revoked as a public company, implementation is carried out in accordance with applicable laws and regulations in the capital market sector.

Article 137
(1) The OJK announces the revocation of the business license of Bank BHI or KCBLN on the OJK website.
(2) For Bank BHI that has Offices Abroad, the revocation of Bank BHI's license is informed by Bank BHI to the relevant authorities in the local country within a maximum of 5 (five) working days since the date of the business license revocation decision from the OJK. (3) The revocation of the business license of KCBLN or the closure of KPBLN is informed by the KCBLN headquarters or KPBLN headquarters to the relevant authorities in the local country within a maximum of 5 (five) working days since the date of the business license revocation decision of KCBLN or the closure of KPBLN from the OJK. (4) The regulations as referred to in paragraph (3) do not apply to the revocation of the business license of KCBLN or the closure of KPBLN in connection with the business license of the KCBLN headquarters or KPBLN being revoked or liquidated by the local state authority.

Article 138
The OJK conducts supervision over activities or follow-ups after the decision on the revocation of the business license against Bank BHI or the revocation of the business license of KCBLN as referred to in Article 124 paragraph (2) letter a or letter b, including supervision over the activities of the resolution team for KCBLN.

Article 139
(1) Bank BHI must submit to the OJK the closing balance sheet of Bank BHI, which has been audited by a public accountant, within a maximum of 10 (ten) working days since the date of the business license revocation decision from the OJK. (2) The authorized party representing the KCBLN headquarters must submit a report on the implementation of the closure as referred to in Article 129 paragraph (4) letter b to the OJK, accompanied by the closing balance sheet of KCBLN, which has been audited by a public accountant, within a maximum of 10 (ten) working days after the date of the business license revocation decision from the OJK. (3) In the event that the settlement of rights and obligations of KCBLN is carried out by a resolution team, the closing balance sheet of KCBLN as referred to in paragraph (2) also includes a list of financial positions to be settled by the resolution team. (4) The report on the implementation of the closure of KPBLN, which has obtained OJK approval as referred to in Article 132 paragraph (2), must be submitted by the authorized party representing the KPBLN headquarters to the OJK within a maximum of 10 (ten) working days after the date of the KPBLN closure decision by the OJK, accompanied by documents listing the obligations of KPBLN included in the settlement scheme. (5) The OJK may request other documents besides those referred to in paragraph (1), paragraph (2), paragraph (3), and paragraph (4).

Article 140
(1) Since the date of the business license revocation, the Board of Directors of Bank BHI or the Board of Directors of KCBLN is prohibited from taking legal actions related to the rights and obligations of Bank BHI or KCBLN. (2) Since the date of the closure decision, KPBLN is prohibited from conducting KPBLN activities.

Article 141
(1) Bank BHI, KCBLN, or KPBLN that violates the regulations as referred to in Article 128 paragraph (1), Article 134 paragraph (1), paragraph (3), Article 135 paragraph (1), Article 139 paragraph (1), paragraph (2), paragraph (4), and/or Article 140 shall be subject to administrative sanctions in the form of a written warning. (2) In the event that Bank BHI, KCBLN, or KPBLN has been subject to administrative sanctions as referred to in paragraph (1), and violates the regulations as referred to in Article 128 paragraph (1), Article 134 paragraph (1), paragraph (3), Article 135 paragraph (1), Article 139 paragraph (1), paragraph (2), paragraph (4), and/or Article 140, PSP, the Board of Directors, Board of Commissioners, and/or Executive Officials of Bank BHI or KCBLN, or the leader of KPBLN may be subject to administrative sanctions in the form of a prohibition as a principal party in accordance with OJK Regulations regarding the re-evaluation of principal parties of financial service institutions.

CHAPTER XIV
BANKING SYNERGY

Article 142
(1) Bank BHI may conduct Banking Synergy.
(2) Banking Synergy as referred to in paragraph (1) applies to Bank BHI and general banks that conduct business activities based on Sharia principles.
(3) In the event that Banking Synergy is conducted by general banks that conduct business activities based on Sharia principles with general banks that conduct business activities based on Sharia principles, it is implemented in accordance with OJK Regulations regarding banking synergy in one ownership for the development of Sharia banking. (4) Banking Synergy as referred to in paragraph (1) includes synergy:
a. Banks within a banking business group consisting of:

Bank BHI as the parent company;
Bank BHI as the operating company of the parent company; or
Bank BHI within a banking business group that is not a parent company or operating company of the parent company,
with Bank BHI or general banks that conduct business activities based on Sharia principles within the banking business group structure; b. PSP consisting of Bank BHI with Bank BHI or general banks that conduct business activities based on Sharia principles; or
c. Bank BHI as the parent company against non-financial financial service institutions as subsidiaries.

Article 143
(1) In implementing Banking Synergy as referred to in Article 142, both parties must create a written cooperation agreement.
(2) The cooperation agreement as referred to in paragraph (1) must at least cover:
a. the parties conducting the cooperation; b. the objectives and scope of cooperation;
c. the duration of the cooperation agreement; and
d. the rights and obligations of each party at least regarding:

the obligation of both parties to maintain confidentiality and information security (non-disclosure agreement), including confidentiality and information security for customer data protection purposes;
liability for losses, in the event of system failure, fraud, and/or failure from other internal and external factors;
risk mitigation, including in the event of cooperation termination before maturity;
handling customer complaints, in the event that synergy relates directly to customers;
knowledge transfer aspects, in the event that synergy involves human resources from the parties conducting the synergy; and
management and maintenance of documentation from activities or scopes of cooperation.
(3) The cooperation agreement is drafted by both parties, accompanied by documents from the authorized compliance unit officials stating that Banking Synergy has met the aspects as referred to in paragraph (2).

(4) Banking Synergy documented in a written cooperation agreement as referred to in paragraph (1) is based on a fair cooperation relationship.
(5) The party receiving benefits is responsible for the risks arising from business decisions, services, and/or operations from the implementation of Banking Synergy.
(6) Both parties must ensure that the implementation of Banking Synergy is in accordance with the cooperation agreement.
(7) Synergy related to the provision of information technology services:
a. the provision of information technology services other than applications to parties as referred to in Article 142 paragraph (4); and b. the provision of information technology services in the form of applications to parties as referred to in Article 142 paragraph (4) letter a and letter b, is exempted from OJK approval in accordance with OJK regulations regarding the application of risk management in the use of information technology by general banks.

Article 144
(1) The synergizing parties must submit a copy of the cooperation agreement to the OJK within a maximum of 5 (five) working days since the date of the cooperation agreement. (2) The implementation of Banking Synergy by Bank BHI with general banks that conduct business activities based on Sharia principles or Bank BHI that has Sharia business units must be accompanied by a Sharia supervisory board opinion. (3) In the event of changes to the cooperation agreement, Bank BHI must report to the OJK within a maximum of 5 (five) working days since the date of the cooperation agreement changes, accompanied by a copy of the changes to the cooperation agreement. (4) In the event that cooperation will be terminated before the cooperation agreement period is completed, Bank BHI must report to the OJK within a maximum of 30 (thirty) working days before the effective date of the termination of the cooperation agreement.

Article 145
(1) Bank BHI and/or general banks that conduct business activities based on Sharia principles that violate the regulations as referred to in Article 143 paragraph (6) and/or Article 144 shall be subject to administrative sanctions in the form of a written warning. (2) Bank BHI and/or general banks that conduct business activities based on Sharia principles that are late in fulfilling the obligation to submit documents or reports as referred to in Article 144 paragraph (1), paragraph (3), and/or paragraph (4), shall be subject to administrative sanctions in the form of a fine of IDR 1,000,000.00 (one million rupiah) per working day and a maximum of IDR 30,000,000.00 (thirty million rupiah). (3) In the event that Bank BHI and/or general banks that conduct business activities based on Sharia principles have been subject to administrative sanctions as referred to in paragraph (1) and/or paragraph (2), and have not fulfilled the regulations as referred to in Article 143 paragraph (6) and/or Article 144, Bank BHI and/or general banks that conduct business activities based on Sharia principles shall be subject to administrative sanctions in the form of:
a. prohibition to expand business activities; and/or b. suspension of certain business activities.
(4) In the event that Bank BHI and/or general banks that conduct business activities based on Sharia principles have been subject to administrative sanctions as referred to in paragraph (1) and/or paragraph (2) and violate the regulations as referred to in Article 143 paragraph (6), Article 144, paragraph (2), and/or paragraph (3), PSP, the Board of Directors, Board of Commissioners, and/or Executive Officials of Bank BHI and/or controlling shareholders, directors, board of commissioners, and/or executive officials of general banks that conduct business activities based on Sharia principles may be subject to administrative sanctions in the form of a prohibition as a principal party in accordance with OJK Regulations regarding the re-evaluation of principal parties of financial service institutions.

CHAPTER XV
SUBMISSION OF PERMITS AND REPORTS

Article 146
(1) Submissions regarding:
a. requests to obtain permits and/or submissions of information and documents related to permits as referred to in Article 15 paragraph (1), Article 18, Article 61 paragraph (2), Article 64 paragraph (2), Article 69 paragraph (3), Article 73 paragraph (2), Article 74 paragraph (2), Article 77 paragraph (2), Article 79 paragraph (6), Article 80 paragraph (1), paragraph (3), paragraph (4), Article 83 paragraph (2), Article 85 paragraph (6), Article 86 paragraph (1), paragraph (3), paragraph (4), Article 91 paragraph (2), paragraph (3), Article 98 paragraph (1), Article 99 paragraph (1), Article 103 paragraph (1), Article 106 paragraph (1), Article 113 paragraph (1), Article 116 paragraph (2), Article 122 paragraph (1), Article 127 paragraph (1), Article 129 paragraph (1), Article 132 paragraph (1), and/or Article 134 paragraph (1), are submitted through the OJK permit system in accordance with the procedures as per OJK Regulations regarding electronic permits in the financial services sector; or b. reporting on implementation as referred to in Article 53 paragraph (1), Article 58 paragraph (2), Article 63 paragraph (4), Article 66 paragraph (4), Article 67 paragraph (2), Article 68 paragraph (2), Article 71 paragraph (5), Article 74 paragraph (5), and/or Article 111 paragraph (2), are submitted through the OJK reporting system in accordance with the procedures as per OJK Regulations regarding reporting by general banks through the OJK reporting system, and the reporting time limit is adjusted to the reporting period in which the reported activity implementation has effectively been realized. (2) Submissions regarding:
a. information and/or data other than those referred to in paragraph (1); or b. in the event that the permit system and/or reporting system as referred to in paragraph (1) is not yet available or there is a force majeure situation, are conducted through the OJK correspondence system. (3) In the event that the OJK correspondence system as referred to in paragraph (2) has a force majeure situation, submissions are conducted offline to the OJK. (4) The online and offline submission mechanisms refer to the appendix, which is an integral part of this OJK Regulation.

CHAPTER XVI
BANK GROUPING

Article 147
(1) Based on the Core Capital owned, banks are grouped into 4 (four) KBMI:
a. KBMI 1 is a bank with Core Capital up to IDR 6,000,000,000,000.00 (six trillion rupiah); b. KBMI 2 is a bank with Core Capital more than IDR 6,000,000,000,000.00 (six trillion rupiah) up to IDR 14,000,000,000,000.00 (fourteen trillion rupiah);
c. KBMI 3 is a bank with Core Capital more than IDR 14,000,000,000,000.00 (fourteen trillion rupiah) up to IDR 70,000,000,000,000.00 (seventy trillion rupiah); and
d. KBMI 4 is a bank with Core Capital more than IDR 70,000,000,000,000.00 (seventy trillion rupiah).

(2) The grouping of banks based on Core Capital owned into 4 (four) KBMI as referred to in paragraph (1) applies to Bank BHI, KCBLN, general banks that conduct business activities based on Sharia principles, and Sharia business units of Banks as referred to in the Banking Law regarding Sharia banking. (3) KBMI for Sharia business units of Banks is based on the Core Capital of the Bank that is the parent.

Article 148
(1) In the event that it is necessary, the OJK may determine the updating of bank grouping based on Core Capital as referred to in Article 147.
(2) The updating of bank grouping as referred to in paragraph (1) is determined by the OJK by considering the development and growth of bank performance and the financial industry.

CHAPTER XVII
OTHER PROVISIONS

Article 149
(1) Bank BHI or KCBLN may maintain office networks and business activities that have obtained OJK approval before this OJK Regulation takes effect.
(2) Bank BHI or KCBLN that, by the time this OJK Regulation takes effect, has cash offices, payment points, or mobile cash offices, may record them as KCP for Bank BHI or offices under KCP for KCBLN by updating the OJK reporting system in the nearest reporting period since this OJK Regulation takes effect, or adjusted to the plan and policy of the office network of Bank BHI or KCBLN. (3) Adjustments to naming on office signs, correspondence, promotional activities, and so on in connection with the recording and/or updating of cash offices, payment points, or mobile cash offices as KCP for Bank BHI or offices under KCP for KCBLN as referred to in paragraph (2), are adjusted to the naming adjustment plan of Bank BHI or KCBLN.

Article 150
(1) Bank BHI must submit the minutes of the Annual General Meeting of Shareholders (RUPS) to the OJK within a maximum of 14 (fourteen) working days after the RUPS is held, provided that the minutes of the RUPS have not yet been submitted as part of the document completeness in this OJK Regulation or other OJK regulations. (2) The time limit for submitting the minutes of the RUPS as referred to in paragraph (1) for Bank BHI that is a public company is in accordance with OJK Regulations regarding the implementation of RUPS for public companies.

Article 151
(1) Bank BHI or KCBLN announces plans to conduct operational activities on non-operational days, on holidays, and/or not operating on working days.
(2) Announcements as referred to in paragraph (1) are made through:
a. daily newspapers in the Indonesian language; b. the website of Bank BHI or KCBLN; and/or
c. the official social media accounts of Bank BHI or KCBLN.

Article 152
Bank BHI, KCBLN, or KPBLN must administer documents in permit applications in accordance with this OJK Regulation, including documents and administrative requirements submitted online.

Article 153
Based on the grouping of banks into 4 (four) KBMI as referred to in Article 147, adjustments are made to the regulations:
a. the obligation to calculate and report liquidity adequacy ratios and net stable funding ratios applicable to BUKU 3, BUKU 4, and foreign banks becomes applicable to KBMI 2, KBMI 3, KBMI 4, and foreign banks; b. the application of risk management and standard approach risk measurement for interest rate risk in the banking book (IRRBB) which applies:

for BUKU 3, BUKU 4, and foreign banks becomes applicable to KBMI 2, KBMI 3, KBMI 4, and foreign banks;
for Bank BHI:
a) which has applied risk management and standard approach risk measurement for interest rate risk in the banking book (IRRBB) before this OJK Regulation takes effect, continues to apply risk management and standard approach risk measurement for interest rate risk in the banking book (IRRBB); and b) which has been included in KBMI 2, KBMI 3, or KBMI 4, and subsequently Bank BHI becomes KBMI 1, Bank BHI continues to apply risk management and standard approach risk measurement for interest rate risk in the banking book (IRRBB); and
c. the obligation to establish a capital conservation buffer applicable to Bank BHI and KCBLN included in BUKU 3 and BUKU 4 becomes applicable to Bank BHI and KCBLN included in KBMI 2, KBMI 3, and KBMI 4.

Article 154
(1) Bank BHI, KCBLN, or KPBLN that violates the regulations as referred to in Article 150 paragraph (1) and/or

Article 152 is subject to administrative sanctions in the form of a written reprimand.
(2) BHI Banks that are late in fulfilling the obligation to submit documents as referred to in Article 150 paragraph (1) are subject to administrative sanctions in the form of a fine of Rp1,000,000.00 (one million rupiah) per working day and at most Rp30,000,000.00 (thirty million rupiah). (3) In the event that BHI Banks, Foreign Branches of BHI Banks (KCBLN), or Representative Offices of BHI Banks (KPBLN) have been subjected to administrative sanctions as referred to in paragraph (1) and/or paragraph (2), and have not yet fulfilled the provisions as referred to in Article 150 paragraph (1) and/or Article 152, BHI Banks, KCBLN, or KPBLN are subject to administrative sanctions in the form of:
a. prohibition on expanding business activities; b. suspension of certain business activities; and/or
c. restriction and/or prohibition on conducting KPBLN activities.
(4) In the event that BHI Banks, KCBLN, or KPBLN have been subjected to administrative sanctions as referred to in paragraph (1) and/or paragraph (2) and violate the provisions as referred to in Article 150 paragraph (1), Article 152 paragraph (2), and/or paragraph (3), the Principal Service Provider (PSP), Board of Directors, Board of Commissioners, and/or Executive Officials of BHI Banks or KCBLN, or the head of KPBLN, may be subject to administrative sanctions in the form of prohibition as a principal party in accordance with OJK Regulations regarding the fit and proper test for principal parties of financial service institutions.

CHAPTER XVIII
TRANSITIONAL PROVISIONS

Article 155
For BHI Banks or KCBLN whose business licenses have been revoked before this OJK Regulation takes effect, the provisions regarding the liquidation team or settlement team remain in effect until the duties and functions of the liquidation team or settlement team end.

Article 156
For the institutional licensing of BHI Banks, KCBLN, or KPBLN that is still in process at the time this OJK Regulation takes effect, it shall continue to refer to the prevailing legislation in effect before this OJK Regulation takes effect.

Article 157
BHI Banks or KCBLN that already have a corporate plan meeting the provisions as referred to in Article 7 paragraph (2), Article 8 paragraph (1) and (2) at the time this OJK Regulation takes effect, shall submit the corporate plan to the OJK no later than 14 (fourteen) working days from the date this OJK Regulation takes effect.

CHAPTER XIX
CLOSING PROVISIONS

Article 158
At the time this OJK Regulation takes effect:
a. Bank Indonesia Regulation Number 11/1/PBI/2009 concerning General Banks (State Gazette of the Republic of Indonesia Year 2009 Number 27, Supplement to the State Gazette of the Republic of Indonesia Number 4976) as amended by Bank Indonesia Regulation Number 13/27/PBI/2011 concerning Amendments to Bank Indonesia Regulation Number 11/1/PBI/2009 concerning General Banks (State Gazette of the Republic of Indonesia Year 2011 Number 147, Supplement to the State Gazette of the Republic of Indonesia Number 5267) and external implementation provisions; b. Article 17 letter a of Financial Services Authority Regulation Number 5/POJK.03/2016 concerning Bank Business Plans (State Gazette of the Republic of Indonesia Year 2016 Number 17, Supplement to the State Gazette of the Republic of Indonesia Number 5841);
c. Financial Services Authority Regulation Number 6/POJK.03/2016 concerning Business Activities and Office Networks Based on Core Capital of Banks (State Gazette of the Republic of Indonesia Year 2016 Number 18, Supplement to the State Gazette of the Republic of Indonesia Number 5482) and external implementation provisions;
d. Financial Services Authority Regulation Number 17/POJK.03/2018 concerning Amendments to Financial Services Authority Regulation Number 6/POJK.03/2016 concerning Business Activities and Office Networks Based on Core Capital of Banks (State Gazette of the Republic of Indonesia Year 2018 Number 139, Supplement to the State Gazette of the Republic of Indonesia Number 6242); e. Bank Indonesia Board of Directors Decision Number 32/37/KEP/DIR Year 1999 concerning Requirements and Procedures for Opening Branch Offices, Sub-Branch Offices, and Representative Offices of Banks Located Abroad; and f. Bank Indonesia Board of Directors Decision Number 32/53/KEP/DIR Year 1999 concerning Procedures for Revocation of Business Licenses, Dissolution, and Liquidation of General Banks, are revoked and declared invalid.

Article 159
At the time this OJK Regulation takes effect:
a. Financial Services Authority Regulation Number 5/POJK.03/2016 concerning Bank Business Plans (State Gazette of the Republic of Indonesia Year 2016 Number 17, Supplement to the State Gazette of the Republic of Indonesia Number 5841); b. Financial Services Authority Regulation Number 16/POJK.03/2017 concerning Intermediary Banks (State Gazette of the Republic of Indonesia Year 2017 Number 66, Supplement to the State Gazette of the Republic of Indonesia Number 6040); and
c. Financial Services Authority Regulation Number 28/POJK.03/2019 concerning Banking Synergy in One Ownership for the Development of Islamic Banking (State Gazette of the Republic of Indonesia Year 2019 Number 221, Supplement to the State Gazette of the Republic of Indonesia Number 6419),
are declared to remain in effect insofar as they do not conflict with the provisions in this OJK Regulation.

Article 160
This OJK Regulation takes effect after 3 (three) months counted from the date of its promulgation.
To ensure that everyone knows it, it is ordered to promulgate this OJK Regulation by placing it in the State Gazette of the Republic of Indonesia.

Established in Jakarta on July 30, 2021

CHAIRMAN OF THE COMMISSIONERS
FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA, sd
WIMBOH SANTOSO

Promulgated in Jakarta on July 30, 2021

MINISTER OF LAW AND HUMAN RIGHTS
REPUBLIC OF INDONESIA, sd
YASONNA H. LAOLY

STATE GAZETTE OF THE REPUBLIC OF INDONESIA YEAR 2021 NUMBER 163

EXPLANATION
OF
FINANCIAL SERVICES AUTHORITY REGULATION
REPUBLIC OF INDONESIA
NUMBER 12 /POJK.03/2021
CONCERNING
GENERAL BANKS

I. GENERAL
As an intermediary institution, banks play a role in contributing to the economy through support for national economic stability and growth. In carrying out this role and to increase competitiveness, banks need to continue to innovate in accordance with the demands and developments of the business environment, both internal and external to the bank. The development of information technology in the digital era has brought changes in bank management and operations. The shift from the traditional bank concept to the future bank concept encourages banks, among other things, to adjust business strategies and restructure distribution networks. In addition, the shift from the traditional bank concept to the future bank concept encourages banking digitalization, including by forming digital banks through new establishment or transformation of existing banks, including encouraging digitalization of operational activities and customer services by providing banking transactions through digital channels (mobile and internet) and the use of the latest electronic banking devices, in efforts to improve customer experience (end-to-end digital solution), and other services. In line with these trends in the banking industry, Indonesian banking, consisting of BHI Banks or general banks conducting business activities based on Sharia principles as parent companies, Foreign Branches of BHI Banks (KCBLN), and Representative Offices of BHI Banks (KPBLN), is also encouraged to operate more efficiently, both individually and through synergy within business groups, while remaining committed to playing a role in maintaining and promoting financial inclusion in Indonesia. Strengthening regulations regarding the institutional aspects of BHI Banks, KCBLN, and KPBLN, starting from aspects related to establishment, operations, to business termination, is necessary to be able to function optimally and responsively, and to be able to act adaptively to rapid developments in information technology. Based on these considerations, it is necessary to update regulations regarding General Banks.

II. ARTICLE BY ARTICLE

Article 1
Clearly sufficient.

Article 2
Paragraph (1)
Activities of raising funds from the public by anyone are generally activities that need to be supervised, given that these activities involve public interests regarding funds deposited with the party raising the funds. However, fund-raising activities regulated under separate legislation are not covered under the business activities of Banks as per this OJK Regulation. Paragraph (2) Clearly sufficient.

Article 3
Clearly sufficient.

Article 4
Clearly sufficient.

Article 5
Clearly sufficient.

Article 6
Clearly sufficient.

Article 7
Paragraph (1)
The term "corporate plan" refers to a written document describing a comprehensive long-term (five-year) strategic plan containing a formulation of directions to achieve the goals of BHI Banks or KCBLN. Paragraph (2) Clearly sufficient. Paragraph (3) In formulating short-term and medium-term strategic plans for BHI Banks or KCBLN, which are embodied in the form of Bank Business Plans, BHI Banks or KCBLN align the formulation of Bank Business Plans with the corporate plan so that there is alignment of strategic plans for BHI Banks or KCBLN, from short-term (one year), medium-term (up to three years), to long-term (up to five years). Paragraph (4) The term "intermediary bank" refers to intermediary banks as defined in the Law concerning the prevention and handling of systemic financial crises.

Article 8
Paragraph (1)
Clearly sufficient.
Paragraph (2)
Letter a
Clearly sufficient.
Letter b
Evaluation of the implementation of the previous corporate plan period of BHI Banks or KCBLN (in this case, the previous 5 (five) year period) covers financial and non-financial aspects. For BHI Banks or KCBLN that are compiling their corporate plan for the first time or submitting their corporate plan to the OJK, it is not necessary to include an evaluation of the previous performance of BHI Banks or KCBLN. Letter c Internal environment analysis must at least contain business environment, organization, human resources, and technology, including analysis of strengths and weaknesses of BHI Banks or KCBLN. External environment analysis must at least contain analysis of macroeconomic variables such as economic growth, exchange rates, inflation, interest rates, performance of fund-raising and fund disbursement in the banking industry, including analysis of opportunities and challenges or threats to BHI Banks or KCBLN. In formulating internal and external environment analyses, supported by the assumptions used. Letter d The objectives and strategies of BHI Banks or KCBLN are aligned with the vision and mission of BHI Banks or KCBLN. Bank objectives include financial and non-financial objectives. Financial objectives must at least contain a summary of main financial projection items consisting of a summary of main items from the financial position report, a summary of main items from the income statement, and key financial ratios from capital adequacy, liquidity, profitability, and asset quality. Non-financial objectives relate to service performance targets, customer engagement, and so on. The strategies of BHI Banks or KCBLN contain strategies for achieving the objectives of BHI Banks or KCBLN. Paragraph (3) For example, the corporate plan for the period 2022 to 2026 is submitted to the OJK no later than the end of November 2021.

Article 9
Paragraph (1)
External conditions include, for example, economic slowdown, disruption of the industry profile that is the target market of BHI Banks or KCBLN, thereby significantly affecting the objectives, strategies, or performance of BHI Banks or KCBLN. Internal conditions include, for example, changes in strategy or business transformation of BHI Banks or KCBLN, failure to achieve performance targets of business units of BHI Banks or KCBLN, thereby significantly affecting the objectives, strategies, or performance of BHI Banks or KCBLN. Paragraph (2) Clearly sufficient. Paragraph (3) For example, the corporate plan of BHI Bank X is formulated for the period 2022 to 2026. In the event that BHI Bank X will make changes to the corporate plan for the years 2024 to 2026, the submission of the changes to the corporate plan of BHI Bank X for the period 2022 to 2026 is submitted from time to time before or together with the deadline for submitting the Bank Business Plan (RBB) in 2024 (end of November 2024). Paragraph (4) For example, BHI Bank X already has a corporate plan for the years 2022 to 2026. In its course, BHI Bank X will make changes to the corporate plan for the years 2024 to 2026. Thus, the content of the submission of changes to the corporate plan of BHI Bank X for the period 2022 to 2026 includes:
a. reasons for the change from the corporate plan of BHI Bank X; b. evaluation of the performance of BHI Bank X for the previous period (years 2022 to 2023) and continued with the content of the corporate plan of BHI Bank X for the years 2024 to 2026 covering financial and non-financial aspects;
c. vision and mission of BHI Bank X or its update;
d. latest internal and external environment analysis; and e. latest objectives and strategies of BHI Bank X.

Article 10
Clearly sufficient.

Article 11
Paragraph (1)
Clearly sufficient.
Paragraph (2)
The requirements and mechanisms for establishing intermediary banks are carried out in accordance with OJK Regulations regarding intermediary banks.

Article 12
Paragraph (1)
Paid-in capital is at least Rp10,000,000,000,000.00 (ten trillion rupiah) done in the form of cash deposits outside other forms of deposits in accordance with the provisions of legislation. Establishment criteria for BHI Banks that are not included in this regulation are BHI Banks resulting from merger, amalgamation, takeover, integration, and conversion in accordance with the provisions of legislation regarding merger, amalgamation, takeover, integration, and conversion of general banks. Paragraph (2) Certain considerations are based on, among other things, the number and distribution of banks in Indonesia, the need to establish BHI Banks for specific Government of the Republic of Indonesia purposes, or the establishment of BHI Banks in the context of converting KCBLN into BHI Banks in accordance with OJK Regulations on merger, amalgamation, takeover, integration, and conversion of general banks.

Article 13
Paragraph (1)
Letter a
Includes Indonesian legal entities, namely the Government of the Republic of Indonesia.
Letter b
Clearly sufficient.
Paragraph (2)
Clearly sufficient.

Article 14
Clearly sufficient.

Article 15
Paragraph (1)
One of the prospective owners acts on behalf of other prospective owners. In implementation, the application can be submitted by the prospective PSP or prospective majority shareholder. Letter a Number 1) Clearly sufficient. Number 2) Clearly sufficient. Number 3) Clearly sufficient. Number 4) One of the things that must be included in the articles of association regarding ownership is that shareholders of BHI Banks must meet the requirements in accordance with OJK regulations regarding ownership of general bank shares, regarding the fit and proper test for principal parties of financial service institutions, and other OJK regulations related thereto. Number 5) Clearly sufficient. Number 6) Clearly sufficient. Letter b Ownership data must clearly contain the shareholding structure up to the ultimate owners and controllers, and beneficial owners. Letter c Fulfillment of the number, composition, criteria, fields of duty or function of prospective Directors and prospective Commissioners is carried out in accordance with OJK provisions, including regarding the application of corporate governance for general banks, and regarding the implementation of compliance functions for general banks. Letter d Organizational structure and human resources include, among other things, organizational structure, horizontal and vertical lines of responsibility, and positions and names of human resources at least from management up to the level of Executive Officials. Letter e Feasibility studies include, among other things, market opportunities and economic potential. The business plan format can refer to the business plan format in accordance with OJK regulations regarding bank business plans. The business plan for the establishment of BHI Banks also contains the products and bank activities that will be conducted by the BHI Bank after obtaining a business license to conduct banking business activities. Letter f Clearly sufficient. Letter g Formulation refers to each relevant OJK regulation. Letter h Includes in the system and work procedures are complete and comprehensive operational standard manuals or standard operating procedures including authorities and responsibilities that will be used for the business activities of BHI Banks. Letter i In the event that the establishment of BHI Banks is carried out by the Government of the Republic of Indonesia, provisions regarding proof of capital deposits and procedures for capital deposits are carried out in accordance with the provisions of legislation. Letter j In the event that prospective shareholders of BHI Banks are legal entities, the statement of intent is made and submitted by the management having the authority to represent the respective legal entity. Number 1) Other parties include, among other things, non-bank financial institutions or other business entities. Other parties do not include the central government, local governments, institutions, or agencies that have the authority to conduct rescue or handling
of bank problems. Number 2) Money laundering as referred to in the Law concerning the prevention and eradication of money laundering criminal acts. Letter k Ultimate owners and controllers refer to individuals or legal entities that directly or indirectly own shares in the PSP as a legal entity of BHI Banks and are the ultimate controllers of the entire business group structure controlling BHI Banks. Paragraph (2) Clearly sufficient.

Article 16
Paragraph (1)
Clearly sufficient.
Paragraph (2)
Letter a
If necessary, the OJK can conduct direct examinations in the context of reviewing the completeness and suitability of documents.
Letter b
Clearly sufficient.
Letter c
The implementation of the fit and proper test is in accordance with OJK regulations regarding the fit and proper test for principal parties of financial service institutions.

Article 17
Paragraph (1)
Clearly sufficient.
Paragraph (2)
Clearly sufficient.
Paragraph (3)
Force majeure conditions include, among other things, fire, mass riots, war, armed conflict, sabotage, pandemic, and/or natural disasters such as earthquakes or floods, which are justified by officials of the competent agency. Other considerations include, among other things, unfavorable economic conditions that can affect the ability of prospective investors or prospective PSPs to meet licensing requirements for the establishment of BHI Banks (fulfillment of paid-in capital, replacement of prospective Directors and/or prospective Commissioners). Paragraph (4) Clearly sufficient. Paragraph (5) Clearly sufficient.

Article 18
Letter a
Clearly sufficient.
Letter b
Clearly sufficient.
Letter c
In the event that the establishment of BHI Banks is carried out by the Government of the Republic of Indonesia, provisions regarding proof of capital deposits and procedures for capital deposits are carried out in accordance with the provisions of legislation. Letter d Number 1) Clearly sufficient. Number 2) Clearly sufficient. Number 3) Clearly sufficient. Number 4) Forms or instruments can be paper-based and/or electronic (applications). Number 5) Clearly sufficient. Number 6) Clearly sufficient. Letter e Clearly sufficient.

Article 19
Paragraph (1)
Clearly sufficient.
Paragraph (2)
Letter a
If necessary, the OJK can conduct direct examinations in the context of reviewing the completeness and suitability of documents.
Letter b
The implementation of the fit and proper test is in accordance with OJK regulations regarding the fit and proper test for principal parties of financial service institutions.

Article 20
Paragraph (1)
Conducting banking business activities means that BHI Banks have conducted business activities of at least fund-raising and/or fund disbursement.
Paragraph (2)
Clearly sufficient.
Paragraph (3)
Other considerations include, among other things, BHI Banks are still in the process of obtaining licenses from other agencies to support the implementation of banking business activities. In the event that licenses from other agencies to support banking business activities are not obtained by BHI Banks, the OJK may establish other policies. Paragraph (4) Clearly sufficient.

Article 21
Paragraph (1)
Clearly sufficient.
Paragraph (2)
The inclusion of the name of BHI Banks related to the use of logos is intended to provide legal certainty for customers and other related parties.
The obligation to include the name of BHI Banks related to the use of logos includes, among other things, in correspondence, promotional activities, and office nameplates of BHI Banks.

Article 22
Clearly sufficient.

Article 23
Paragraph (1)
Clearly sufficient.
Paragraph (2)
Clearly sufficient.
Paragraph (3)
The term "limited physical offices" refers to the existence of physical offices in terms of number, type, and/or location of offices as support for the business activities of Digital Banks.

Article 24
Paragraph (1)
Letter a
The use of innovative technology includes, among other things, using reliable technology capable of supporting the business activities of Digital Banks.
The use of safe technology aims to protect the interests of Digital Banks, customers, and other related parties.
Letter b
A prudent and sustainable business model is demonstrated by the accommodation of the implementation of healthy banking principles.
Letter c
The term "adequate risk management" refers to the fulfillment of risk management aspects in accordance with OJK provisions, including regarding the application of risk management for general banks, and regarding the application of risk management in the use of information technology by general banks. Letter d Competence in the field of information technology includes experience and/or expertise in the field of information technology. Letter e Clearly sufficient. Letter f The development of the digital financial ecosystem and/or financial inclusion includes, among other things, providing Electronic Transaction Devices (TPE) that can be used jointly among Digital Banks to serve the needs of Digital Bank customers. Paragraph (2) Clearly sufficient.

Article 25
Letter a
Clearly sufficient.
Letter b
Transformation from BHI Banks to Digital Banks refers to BHI Banks that have obtained BHI Bank business licenses before this OJK Regulation takes effect and change their business strategy to become Digital Banks or prioritize a digital business strategy.

Article 26
Paragraph (1)
The term "mutatis mutandis" refers to provisions regarding the establishment of BHI Banks, with minor changes or adjustments as necessary, also apply to the establishment of new BHI Banks that will operate as Digital Banks. Paragraph (2) Clearly sufficient. Paragraph (3) Office networks consist of Branch Offices (KC) that conduct service and operational activities for customers using electronic channels and/or the provision of Electronic Transaction Devices (TPE) wholly or partially. TPE refers to electronic devices such as Automated Teller Machines (ATM), Cash Deposit Machines (CDM), Cash Recycler Machines (CRM), Electronic Data Capture (EDC), or Self Service Banking Terminals (SSBT) which are TPEs that provide various banking services. Paragraph (4) Clearly sufficient.

Article 27
Clearly sufficient.

Article 28
Letter a
The term Executive Officials includes, among other things, division heads including officials above division heads other than the Board of Directors, regional office heads, branch office heads, functional office heads with the lowest rank equivalent to branch office heads, heads of risk management work units, heads of compliance work units, heads of internal audit work units, and/or other equivalent officials. Letter b Clearly sufficient.

Article 29
Clearly sufficient.

Article 30
Provisions of legislation include, among other things, provisions regarding institutions, prudential standards, products, implementation of anti-money laundering and counter-terrorism financing programs in the financial services sector, and other related provisions, including specific regulations regarding Digital Banks.

Article 31
Clearly sufficient.

Article 32
Letter a
Other parties include, among other things, non-bank financial institutions or other business entities.
Other parties do not include the central government, local governments, institutions, or agencies that have the authority to conduct rescue or handling of bank problems. Letter b Money laundering as referred to in the Law concerning the prevention and eradication of money laundering criminal acts.

Article 33
Paragraph (1)
Net equity for a limited liability company or regional enterprise is the sum of paid-up capital, reserves, and profits, minus participations and losses.
Paragraph (2)
Clearly stated.

Article 34
Ownership limits for Bank BHI related to establishment and operations are necessary for organizing the ownership structure of banks or strengthening the resilience of the national banking industry.

Article 35
Clearly stated.

Article 36
Paragraph (1)
Owners refer to shareholders, individual PSP holders and/or legal entities, and the ultimate beneficial owners of PSPs that are legal entities.
Letter a
Clearly stated.
Letter b
Clearly stated.
Letter c
Clearly stated.
Letter d
The term "parties prohibited from becoming main parties of financial service institutions" refers to parties subject to the consequences of the final re-evaluation result determined with a "fail" predicate and still undergoing the fail consequences according to the prohibition period, in accordance with OJK regulations regarding re-evaluation for main parties of financial service institutions. Paragraph (2) Clearly stated.

Article 37
Clearly stated.

Article 38
Clearly stated.

Article 39
Clearly stated.

Article 40
Paragraph (1)
Clearly stated.
Paragraph (2)
Letter a
Clearly stated.
Letter b
The deed of amendment to the articles of association contains a list of shareholders recorded in the articles of association of Bank BHI, including details of share ownership amounts after the distribution of stock dividends.

Article 41
Paragraph (1)
Does not result in a change in control, whether in the form of replacement, reduction, and/or addition of control.
Paragraph (2)
Change in ownership composition refers to changes related to the nominal and/or percentage of ownership.
Paragraph (3)
Changes in ownership composition that do not change paid-up capital are caused, for example, by the sale, gift, or inheritance of shares among existing owners, and the direct purchase of shares of Bank BHI which is not a public company (not Tbk). Paragraph (4) The report on composition or list of share ownership is intended to identify changes in composition or ownership lists caused by the replacement and/or addition of owners due to the purchase of shares through the stock exchange.

Article 42
Paragraph (1)
Clearly stated.
Paragraph (2)
Clearly stated.
Paragraph (3)
Clearly stated.
Paragraph (4)
Takeover refers to takeovers in accordance with OJK Regulations regarding the merger, consolidation, takeover, integration, and conversion of commercial banks.

Article 43
Clearly stated.

Article 44
Clearly stated.

Article 45
Clearly stated.

Article 46
Clearly stated.

Article 47
Clearly stated.

Article 48
OJK regulations regarding the management of Bank BHI or KCBLN include:
a. OJK regulations regarding the assessment of competence and propriety for main parties of financial service institutions; b. OJK regulations regarding the application of governance for commercial banks;
c. OJK Regulation regarding the implementation of the compliance function of commercial banks; and
d. OJK regulations regarding the utilization of foreign labor and knowledge transfer programs in the banking sector.

Article 49
Clearly stated.

Article 50
Clearly stated.

Article 51
Clearly stated.

Article 52
Clearly stated.

Article 53
Paragraph (1)
Included in the definition of dismissal is the dismissal of Executive Officials by order of OJK because the individual has a negative track record and/or fails the re-evaluation in accordance with OJK regulations regarding re-evaluation for main parties of financial service institutions. Paragraph (2) Clearly stated. Paragraph (3) Clearly stated. Paragraph (4) Clearly stated.

Article 54
Clearly stated.

Article 55
Clearly stated.

Article 56
Paragraph (1)
Clearly stated.
Paragraph (2)
TPE refers to electronic devices, including Automated Teller Machines (ATM), Cash Deposit Machines (CDM), Cash Recycler Machines (CRM), Electronic Data Capture (EDC), or Self Service Banking Terminals (SSBT), which are TPEs that provide various banking services.

Article 57
For offices abroad, the implementation of service and operational activities using electronic channels and/or the provision of TPEs shall refer to the rules of the local country's authority.

Article 58
Clearly stated.

Article 59
Paragraph (1)
Letter a
Clearly stated.
Letter b
Operational readiness plans related to the opening of Bank BHI offices include, among others, human resources, physical infrastructure and supporting information technology, and other supporting devices. Paragraph (2) Clearly stated.

Article 60
Clearly stated.

Article 61
Clearly stated.

Article 62
Clearly stated.

Article 63
Paragraph (1)
The opening of a Regional Office (Kanwil) is declared effective on the date Bank BHI implements the opening of the Regional Office.
Paragraph (2)
Force majeure conditions include, among others, fire, mass riots, war, armed conflict, sabotage, pandemic, and/or natural disasters such as earthquakes or floods, which are certified by officials of the competent agency. Paragraph (3) Clearly stated. Paragraph (4) Clearly stated.

Article 64
Clearly stated.

Article 65
Clearly stated.

Article 66
Paragraph (1)
The opening of a Branch Office (KC) is declared effective on the date Bank BHI implements the opening of the Branch Office.
Paragraph (2)
Clearly stated.
Paragraph (3)
Clearly stated.
Paragraph (4)
Clearly stated.

Article 67
Paragraph (1)
The term "permanent KCP" refers to a physical KCP office located permanently to serve customers.
The term "mobile KCP" or mobile KCP refers to a KCP that can move locations or is located in a certain place temporarily to serve customers, including but not limited to mobile cash counters, floating cash counters, and non-permanent bank counters. Considering the existence of mobile KCPs that can move locations or are located in a certain place temporarily to serve customers, for reporting purposes, Bank BHI may designate the address of the organizational unit overseeing the mobile KCP as the address of the mobile KCP. Paragraph (2) Clearly stated. Paragraph (3) Clearly stated.

Article 68
Paragraph (1)
KF that conducts operational activities refers to KFs that perform activities related to:
a. customer acceptance; b. cash receipt/disbursement;
c. processing of fund mobilization or distribution; or
d. making decisions on applications for fund mobilization or distribution.
Examples of KFs that conduct operational activities include, among others, credit centers or card centers.
Examples of KFs that conduct non-operational activities include, among others, marketing offices or IT centers.
Paragraph (2)
Clearly stated.
Paragraph (3)
Clearly stated.

Article 69
Clearly stated.

Article 70
Clearly stated.

Article 71
Paragraph (1)
Clearly stated.
Paragraph (2)
Other considerations include, among others, the licensing process from the local country's authority that takes longer.
Paragraph (3)
Clearly stated.
Paragraph (4)
Clearly stated.
Paragraph (5)
Clearly stated.

Article 72
Clearly stated.

Article 73
Paragraph (1)
Clearly stated.
Paragraph (2)
Change of KCP status to KC without the need to close the KCP.

Article 74
Paragraph (1)
Clearly stated.
Paragraph (2)
Clearly stated.
Paragraph (3)
Clearly stated.

Paragraph (4)
Change of KC status to KCP without the need to close the KC.
Paragraph (5)
Clearly stated.

Article 75
For example, the change of KF status to KC is carried out by following the requirements and procedures for closing the KF and opening the KC.

Article 76
Clearly stated.

Article 77
Clearly stated.

Article 78
Clearly stated.

Article 79
Paragraph (1)
Website refers to a collection of web pages containing information or data that can be accessed through an internet network system.
Paragraph (2)
Clearly stated.
Paragraph (3)
Clearly stated.
Paragraph (4)
Clearly stated.
Paragraph (5)
Submission of copies or photocopies of permits or approvals for the relocation of the Office Abroad from the local country's authority in the event of a licensing process for the relocation of the Office Abroad by the local country's authority.

Paragraph (6)
Clearly stated.
Paragraph (7)
Clearly stated.
Paragraph (8)
Clearly stated.

Article 80
Clearly stated.

Article 81
Paragraph (1)
Other conditions according to the needs of Bank BHI include, among others, office building renovation.
Paragraph (2)
Clearly stated.
Paragraph (3)
The term "previous address" refers to the address before the temporary relocation.
Paragraph (4)
Clearly stated.

Article 82
Clearly stated.

Article 83
Paragraph (1)
Clearly stated.
Paragraph (2)
Clearly stated.
Paragraph (3)
Letter a
Clearly stated.
Letter b
The settlement of rights and obligations to customers and/or other parties can be carried out, among others, through the transfer of all rights and obligations to another office of Bank BHI or to other parties, with the consent of the customer or other party. Letter c Clearly stated.

Article 84
Clearly stated.

Article 85
Paragraph (1)
Clearly stated.
Paragraph (2)
Clearly stated.
Paragraph (3)
Clearly stated.
Paragraph (4)
Clearly stated.
Paragraph (5)
Evidence of the settlement of rights and obligations can be in the form of the determination of the settlement scheme of rights and obligations of Bank BHI to customers and/or other parties. Letter a Clearly stated. Letter b Evidence of the settlement of rights and obligations to customers and/or other parties includes, among others, a branch balance sheet showing that all rights and obligations of the branch to customers and other parties have been settled. Letter c Clearly stated. Paragraph (6) Clearly stated. Paragraph (7) Clearly stated.

Article 86
Clearly stated.

Article 87
Paragraph (1)
Other conditions according to the needs of Bank BHI besides KP include, among others, office building renovation.
Paragraph (2)
Clearly stated.
Paragraph (3)
Clearly stated.
Paragraph (4)
Clearly stated.
Paragraph (5)
Clearly stated.

Article 88
The settlement of rights and obligations can be in the form of the determination of the settlement scheme of rights and obligations of Bank BHI to customers and/or other parties. Other parties include, among others, creditors, Bank BHI employees.

Article 89
OJK considerations include, among others, a decrease in the health level of Bank BHI, an increase in risk profile, a decrease in financial conditions, and/or related to financial inclusion in a certain region.

Article 90
Clearly stated.

Article 91
Paragraph (1)
Does not include the intended name change, which is the inclusion or removal of the "Tbk." status behind the name of Bank BHI.
Paragraph (2)
Supporting documents include, among others:
a. reasons for the name change; and b. draft deed of amendment to the articles of association.

Paragraph (3)
Clearly stated.
Paragraph (4)
For example: PT Bank ABC has obtained approval from the competent agency to change its name to PT Bank DEF. In relation to this, OJK issues a determination of the use of the business license under the name of PT Bank ABC to be under the name of PT Bank DEF (the new name). Paragraph (5) Clearly stated. Paragraph (6) Clearly stated.

Article 92
Paragraph (1)
Clearly stated.
Paragraph (2)
Clearly stated.
Paragraph (3)
Clearly stated.
Paragraph (4)
Supporting documents include, among others, the amended articles of association approved by the competent agency when the logo change results in a change to the articles of association.

Article 93
Clearly stated.

Article 94
Paragraph (1)
Regulatory provisions include, among others, provisions regarding the change of conventional bank business activities to Islamic banks, and provisions regarding Islamic business units. Paragraph (2) Clearly stated.

Article 95
Clearly stated.

Article 96
Clearly stated.

Article 97
Clearly stated.

Article 98
Paragraph (1)
Clearly stated.
Paragraph (2)
Letter a
If necessary, OJK can conduct direct examinations in the context of researching the completeness and suitability of documents.
Letter b
The implementation of the assessment of competence and propriety is in accordance with OJK regulations regarding the assessment of competence and propriety for main parties of financial service institutions. Paragraph (3) Clearly stated. Paragraph (4) Clearly stated. Paragraph (5) Force majeure conditions include, among others, fire, mass riots, war, armed conflict, sabotage, pandemic, and/or natural disasters such as earthquakes or floods, which are certified by officials of the competent agency. Paragraph (6) Clearly stated.

Article 99
Clearly stated.

Article 100
Clearly stated.

Article 101
Paragraph (1)
Letter a
Having good performance and reputation includes, among others, based on international bank ratings, total assets, and the bank's financial capacity.
Letter b
Having a commitment to contribute to the Indonesian economy includes, among others, stated in a letter of statement declaring commitment to contribute to the Indonesian economy, and a business plan showing that KCBLN will channel credit to priority sectors supporting national development. Letter c Total assets include being in the top 100 (one hundred) largest in the world based on information, among others, contained in the banker's almanac. Letter d Clearly stated. Paragraph (2) Specific considerations are based, among others, on OJK policy regarding the contribution of KCBLN to the national economy.

Article 102
Clearly stated.

Article 103
Paragraph (1)
Letter a
Clearly stated.
Letter b
Clearly stated.
Letter c
Clearly stated.
Letter d
Clearly stated.
Letter e
Clearly stated.
Letter f
Clearly stated.
Letter g
Clearly stated.
Letter h
The fulfillment of the number, composition, criteria, scope of duties or functions of the prospective Directors of KCBLN is implemented in accordance with OJK regulations, including those regarding the application of governance for commercial banks, and the implementation of the compliance function of commercial banks. Letter i Clearly stated. Letter j Feasibility studies include, among others, market opportunities and economic potential. The format of the business plan can refer to the business plan format in accordance with OJK regulations regarding bank business plans. The business plan for the establishment of KCBLN also includes the banking products and activities that will be conducted by KCBLN after obtaining a business license to conduct banking business activities. Letter k Clearly stated. Letter l Clearly stated. Letter m The preparation refers to each OJK regulation related to it.

Letter n
Included in the systems and work procedures are complete and comprehensive manual books or standard operating procedures, including authorities and responsibilities that will be used for the business activities of KCBLN. Letter o Clearly stated. Letter p Clearly stated. Letter q Money laundering as referred to in the Law regarding the prevention and eradication of money laundering crimes. Paragraph (2) Clearly stated.

Article 104
Paragraph (1)
Clearly stated.
Paragraph (2)
Letter a
If necessary, OJK can conduct examinations in the context of researching the completeness and suitability of documents.
Letter b
Clearly stated.
Letter c
The implementation of the assessment of competence and propriety is in accordance with OJK regulations regarding the assessment of competence and propriety for main parties of financial service institutions.

Article 105
Paragraph (1)
Clearly stated.
Paragraph (2)
Clearly stated.

Paragraph (3)
Force majeure conditions include, among others, fire, mass riots, war, armed conflict, sabotage, pandemic, and/or natural disasters such as earthquakes or floods, which are certified by officials of the competent agency. Other considerations include, among others, the internal conditions of the bank located abroad, policies or rules of the local country's authority, which can affect the fulfillment of licensing requirements for opening KCBLN (fulfillment of CEMA and/or replacement of prospective Directors). Paragraph (4) Clearly stated. Paragraph (5) Clearly stated.

Article 106
Paragraph (1)
Letter a
Clearly stated.
Letter b
Clearly stated.
Letter c
Clearly stated.
Letter d
Number 1)
Clearly stated.
Number 2)
Clearly stated.
Number 3)
Clearly stated.
Number 4)
Forms or instruments can be paper-based and/or electronic (application).
Number 5)
Clearly stated.
Number 6)
Clearly stated.

Letter e
Clearly stated.
Paragraph (2)
Clearly stated.

Article 107
Paragraph (1)
Clearly stated.
Paragraph (2)
Letter a
If necessary, OJK can conduct direct examinations in the context of researching the completeness and suitability of documents.
Letter b
The implementation of the assessment of competence and propriety is in accordance with OJK regulations regarding the assessment of competence and propriety for main parties of financial service institutions.

Article 108
Paragraph (1)
Conducting banking business activities means that KCBLN has conducted business activities of at least fund mobilization and/or fund distribution.
Paragraph (2)
Clearly stated.
Paragraph (3)
Other considerations include, among others, KCBLN is still in the process of obtaining permits from other agencies to support the implementation of banking business activities. In the event that permits from other agencies to support banking business activities are not obtained, OJK may determine other policies. Paragraph (4) Clearly stated.

Article 109
Paragraph (1)
Offices under KCP refer to offices under the KCP of KCBLN that assist the KCP in carrying out Bank business activities, with a clear business address where the office under the KCP conducts its business. Paragraph (2) TPE refers to electronic devices, including Automated Teller Machines (ATM), Cash Deposit Machines (CDM), Cash Recycler Machines (CRM), Electronic Data Capture (EDC), or Self Service Banking Terminals (SSBT), which are TPEs that provide various banking services.

Article 110
The term "mutatis mutandis" refers to the regulations regarding the office network of Bank BHI, with minor changes or adjustments as necessary, which also apply to the office network of KCBLN.

Article 111
Clearly stated.

Article 112
OJK considerations include, among others, a decrease in the health level of KCBLN, an increase in risk profile, a decrease in financial conditions, and/or related to financial inclusion in a certain region.

Article 113
Paragraph (1)
Supporting documents include, among others, documents of amendment to the articles of association or equivalents, name change documents, and/or changes in legal entity form. Paragraph (2) Clearly stated. Paragraph (3) Clearly stated.

Paragraph (4)
Clearly stated.

Article 114
Paragraph (1)
Clearly stated.
Paragraph (2)
Clearly stated.
Paragraph (3)
Supporting documents include, among others, documents determining the use of the new logo from the KCBLN headquarters.

Article 115
Clearly stated.

Article 116
Paragraph (1)
Letter a
Having good performance and reputation includes, among others, based on international bank ratings, total assets, and the bank's financial capacity.
Letter b
Having a commitment to contribute to the Indonesian economy includes, among others, stated in a letter of statement declaring commitment to contribute to the Indonesian economy, which is contained in the work plan stating that KPBLN will encourage an increase in financing from headquarters and/or branches abroad to finance priority sector projects supporting national development. Letter c Total assets include being in the top 200 (two hundred) largest in the world based on information, among others, contained in the banker's almanac. Letter d Clearly stated.

Paragraph (2)
Clearly stated.
Paragraph (3)
Clearly stated.

Article 117
Paragraph (1)
Clearly stated.
Paragraph (2)
Letter a
If necessary, OJK can conduct direct examinations in the context of researching the completeness and suitability of documents.
Letter b
The implementation of the assessment of competence and propriety is in accordance with OJK regulations regarding the assessment of competence and propriety for main parties of financial service institutions. Paragraph (3) Clearly stated.

Article 118
Paragraph (1)
Clearly stated.
Paragraph (2)
Banking business activities as referred to in the Law regarding banking.
Paragraph (3)
Clearly stated.

Article 119
Clearly stated.

Article 120
Paragraph (1)
Clearly stated.
Paragraph (2)
Clearly stated.

Paragraph (3)
For example, the submission of the 2022 work plan is submitted no later than the end of November 2021.

Article 121
The reporting of the relocation of KPBLN to OJK is accompanied by the latest address of KPBLN.

Article 122
Paragraph (1)
Supporting documents include, among others, documents of amendment to the articles of association (or similar), name change documents, and/or changes in legal entity form. Paragraph (2) Clearly stated.

Article 123
Clearly stated.

Article 124
Paragraph (1)
Clearly stated.
Paragraph (2)
Letter a
Number 1)
Clearly stated.
Number 2)
The revocation of the business license of Bank BHI in connection with the change of Bank BHI's business activities to become a rural credit bank or a rural financing Islamic bank is implemented in accordance with OJK Regulations regarding rural credit banks or OJK Regulations regarding rural financing Islamic banks. Letter b Includes requests from the KCBLN headquarters, namely in connection with the implementation of integration or conversion in accordance with OJK Regulations regarding the merger, consolidation, takeover, integration, and conversion of commercial banks. Letter c Clearly stated. Letter d Bank resolution refers to bank resolution as referred to in the Law regarding the prevention and handling of financial system crises.

Article 125
Letter a
Special supervision status in accordance with OJK Regulations regarding the determination of status and follow-up of supervision of commercial banks.
Letter b
Clearly stated.

Article 126
Clearly stated.

Article 127
Paragraph (1)
Letter a
Clearly stated.
Letter b
Clearly stated.
Letter c
Includes other parties, among others, Bank Indonesia and the Deposit Insurance Agency.
Letter d
Clearly stated.
Letter e
Clearly stated.
Paragraph (2)
Clearly stated.

Article 128
Paragraph (1)
Letter a
Clearly stated.
Letter b
Clearly stated.
Letter c
The settlement of obligations referred to includes, among others, the settlement of obligations to customers, creditors, payment of outstanding salaries, payment of office costs, settlement of tax aspects and other costs, with relevant settlement mechanisms, among others, through settlement, transfer, and/or deposit to another bank in Indonesia, by Bank BHI or KCBLN. Letter d Clearly stated.

Paragraph (2)
The determination of the settlement scheme for KCBLN includes relevant settlement mechanisms, among others, through settlement by KCBLN or transfer and/or deposit to another bank or other party in Indonesia through an agreement conducted by the headquarters of KCBLN.

Paragraph (3)
Regulations include, among others, regulations regarding the settlement mechanism of obligations related to the revocation of the business license of KCBLN with other stakeholders such as Bank Indonesia regarding payment systems, the Directorate General of Taxes regarding taxation, or regulations against KCBLN from the authority of the country of the KCBLN headquarters. The settlement team is tasked with settling all rights and obligations of KCBLN that need to be settled in accordance with regulations after the decision to revoke the business license of KCBLN.

Article 129
Paragraph (1)
Letter a
Clearly stated.
Letter b
Clearly stated.
Letter c
Includes the settlement of rights and obligations, namely the settlement of employee rights and obligations.
Includes settlement in the form of a settlement scheme, namely the settlement of KCBLN obligations in the form of providing cash funds deposited to a bank in Indonesia for the settlement of unpaid tax obligations and the settlement of customer funds that have not been withdrawn, including, among others, the settlement of customer ownership in safe deposit box services. Letter d Clearly stated. Letter e Clearly stated.

Paragraph (2)
Clearly stated.
Paragraph (3)
Clearly stated.
Paragraph (4)
Letter a
Regulatory provisions include, among others, the Law regarding limited liability companies.
Letter b
Clearly stated.

Paragraph (5)
Obligations include, among others, obligations to debtors in the event that collateral is still held by Bank BHI or KCBLN, and/or obligations in the field of taxation.

Article 130
Clearly stated.

Article 131
Clearly stated.

Article 132
Paragraph (1)
KPBLN's obligations to other parties include, among others, obligations for payment of outstanding salaries, payment of office costs, taxation, and other relevant costs. The determination of the settlement scheme includes the plan and schedule for the settlement of KPBLN obligations.

Paragraph (2)
Clearly stated.

Article 133
Paragraph (1)
Clearly stated.
Paragraph (2)
Regulatory provisions include, among others, those related to the Deposit Insurance Agency.

Article 134
Paragraph (1)
Clearly stated.
Paragraph (2)
Clearly stated.

Paragraph (3)
Clearly stated.
Paragraph (4)
The term "relevant authority" refers to the Deposit Insurance Agency.

Article 135
Clearly stated.

Article 136
Clearly stated.

Article 137
Clearly stated.

Article 138
Clearly stated.

Article 139
Paragraph (1)
Submission of the closing balance sheet accompanied by a detailed list of assets and liabilities.
Paragraph (2)
Clearly stated.
Paragraph (3)
Clearly stated.
Paragraph (4)
Clearly stated.
Paragraph (5)
Clearly stated.

Article 140
Paragraph (1)
All activities related to the settlement of rights and obligations are settled by:
a. shareholders in the event that there are unfinished rights and obligations for Bank BHI. b. the settlement team or the headquarters of KCBLN for KCBLN.

Paragraph (2)
Clearly stated.

Article 141
Clearly stated.

Article 142
Paragraph (1)
Banking synergy includes, among others, the utilization of infrastructure, namely office networks, TPEs, archiving, etc., and the utilization of technology, namely data centers, disaster recovery centers,

(disaster recovery center), information security, cyber resilience, applications, and so on, banking services for customers including customer service centers (call centers), support related to human resources, or other activities as long as they do not conflict with applicable legislation. Paragraph (2) Clearly stated. Paragraph (3) Clearly stated. Paragraph (4) Letter a The term "bank business group" refers to the bank business group in accordance with the OJK Regulation on general bank consolidation. Letter b Clearly stated. Letter c Clearly stated.
Article 143
Paragraph (1)
Clearly stated.
Paragraph (2)
Letter a
Clearly stated.
Letter b
Clearly stated.
Letter c
The term of the cooperation agreement specifies the period of cooperation start and end.
In the event that cooperation is still needed, each party may extend the term of cooperation by updating the cooperation agreement.
Letter d
Number 1)
Confidentiality and information security, including confidentiality and information security for the purpose of customer data protection, namely actions that provide protection, maintain the confidentiality and security of information of both parties that carry out synergy, and only use such information in accordance with the interests and purposes approved by the customer, unless otherwise stated by applicable legislation. The obligation to maintain customer information confidentiality and security is, among others, in accordance with the provisions of applicable legislation regarding bank secrecy in the Banking Law, the Islamic Banking Law, and OJK Regulations on consumer protection in the financial services sector. Number 2) Clearly stated. Number 3) Risk mitigation is necessary as an effort to ensure operational continuity in the event of termination of the cooperation agreement, which can be caused by various conditions, including increased risk exposure due to changes in supervisory status (becoming intensive or special supervision), takeover, involving at least one of the parties. Number 4) Handling customer complaints in accordance with OJK Regulations on consumer complaint services in the financial services sector. Number 5) Clearly stated. Number 6) Documentation includes, among others, transaction evidence, including for audit purposes and interests.

Paragraph (3)
The official of the work unit that performs compliance functions for non-bank financial service institutions is implemented in accordance with the institutional provisions of each respective financial service institution. Paragraph (4) Arm's length principle cooperation relationship means a cooperation or support condition between parties that is independent like unrelated parties, including having equality and is based on cooperation or support that is fair so as to minimize the occurrence of conflicts of interest. Paragraph (5) Clearly stated. Paragraph (6) Clearly stated. Paragraph (7) Clearly stated.
Article 144
Paragraph (1)
Clearly stated.
Paragraph (2)
The opinion of the Sharia Supervisory Board aims to ensure the implementation of Banking Synergy does not conflict with Sharia principles.
Paragraph (3)
Changes to the cooperation agreement, namely changes or expansion of the type of scope as in the initial cooperation agreement.
For example, previous cooperation support related to customer service centers and changed to marketing services via electronic means (telemarketing).
Paragraph (4)
Clearly stated.
Article 145
Clearly stated.

Article 146
Paragraph (1)
Clearly stated.
Paragraph (2)
The term "OJK correspondence system" refers to the Financial Services Authority Reporting System with address https://sipena.ojk.go.id or another address designated by OJK. Force majeure conditions include, among others, failure of the licensing system or OJK reporting system. Paragraph (3) Force majeure conditions include, among others, failure of the OJK correspondence system. Paragraph (4) Clearly stated.
Article 147
Paragraph (1)
Clearly stated.
Paragraph (2)
Other stakeholders who have regulations on the grouping of general banks based on business activities adjusted to the Core Capital owned or called BUKU, can adjust regulations related to bank grouping according to KBMI. Other stakeholders include, among others, Bank Indonesia, relevant Ministries. As a guide, grouping based on BUKU if linked to KBMI, can become:
a. BUKU 1 can be equated with KBMI 1; b. BUKU 2 can be equated with KBMI 1;
c. BUKU 3 can be equated with KBMI 2 or KBMI 3; and
d. BUKU 4 can be equated with KBMI 3 or KBMI 4.
Paragraph (3)
Clearly stated.
Article 148
Clearly stated.

Article 149
Paragraph (1)
Clearly stated.
Paragraph (2)
Petty Cash includes, among others, mobile cash, floating cash or non-permanent bank counters.
The term "nearest reporting period" means the update of records in the OJK reporting system is implemented in accordance with OJK Regulations regarding reporting of general banks through the OJK reporting system and is implemented in the nearest period after this OJK Regulation comes into force. Paragraph (3) Clearly stated.
Article 150
Clearly stated.
Article 151
Clearly stated.
Article 152
Clearly stated.
Article 153
Letter a
Calculation and reporting of liquidity adequacy ratio and net stable funding ratio in accordance with OJK Regulations regarding obligations to fulfill liquidity adequacy ratio (liquidity coverage ratio) for general banks and OJK Regulations regarding obligations to fulfill net stable funding ratio (net stable funding ratio) for general banks. Foreign banks in accordance with OJK Regulations regarding obligations to fulfill liquidity adequacy ratio (liquidity coverage ratio) for general banks and OJK Regulations regarding obligations to fulfill net stable funding ratio (net stable funding ratio) for general banks.

Letter b
Number 1)
Implementation of risk management and measurement of risk standard approach for interest rate risk in the banking book (interest rate risk in the banking book) in accordance with OJK provisions regarding the implementation of risk management and risk measurement standard approach for interest rate risk in the banking book (interest rate risk in the banking book) for general banks. Foreign banks in accordance with OJK provisions regarding implementation of risk management and risk measurement standard approach for interest rate risk in the banking book (interest rate risk in the banking book) for general banks. Number 2) Clearly stated. Letter c Formation of capital conservation buffer in accordance with OJK Regulations regarding minimum capital provision obligations for general banks and OJK Regulations regarding minimum capital provision obligations for Sharia general banks.
Article 154
Clearly stated.
Article 155
Clearly stated.
Article 156
Clearly stated.
Article 157
Example:
At the time this OJK Regulation comes into force, Bank BHI or KCBLN has already had a corporate plan for the period 2019 to 2023 that is still valid and meets the provisions as per this OJK Regulation. Thus, Bank BHI or KCBLN submits the corporate plan for the period 2019 to 2023 mentioned to OJK no later than 14 (fourteen) working days after this OJK Regulation comes into force. In the event that the corporate plan of Bank BHI or KCBLN for the period 2019 to 2023 mentioned does not yet meet the provisions as per this OJK Regulation, Bank BHI or KCBLN makes changes and/or updates to the corporate plan for the period 2019 to 2023 mentioned and submits it to OJK no later than the end of November 2021.
Article 158
Clearly stated.
Article 159
Clearly stated.
Article 160
Clearly stated.
SUPPLEMENT TO THE STATE GAZETTE OF THE REPUBLIC OF INDONESIA NUMBER 6700

APPENDIX
FINANCIAL SERVICES AUTHORITY REGULATION
REPUBLIC OF INDONESIA
NUMBER 12 /POJK.03/2021
REGARDING
GENERAL BANKS
I. Submission of Applications for Licenses
No Activity Online Submission Offline Submission or via OJK Correspondence System Copies Purpose Copies A BHI Banks:
1 Establishment of BHI Bank Via the OJK licensing system with procedures that refer to OJK Regulations regarding electronic licensing in the financial services sector DPIP -- -- 2 Name Change Yes DPIP DPB, KR or KO according to the location of the KP -- 3 Change of legal entity form Yes DPIP DPB, KR or KO according to the location of the KP -- 4 Opening:
a. Regional Office (Kanwil) b. Branch Office (KC)
c. Foreign Office
Yes • DPIP for BHI Banks with
KP location in the Special Capital Region of Jakarta Province and Banten Province

DPB, KR or KO according to the location
of the office

KR or KO for BHI Banks
with KP location outside the Special Capital Region of Jakarta Province and Banten Province
KR or KO according to the location
of the office

No Activity Online Submission Offline Submission or via OJK Correspondence System Copies Purpose Copies 5 Status Change:
a. KCP to KC Yes • DPIP for BHI Banks with
KP location in the Special Capital Region of Jakarta Province and Banten Province

DPB and KR or KO according to
the location of the office
--
KR or KO for BHI Banks
with KP location outside the Special Capital Region of Jakarta Province and Banten Province
KR or KO according to the location
of the office b. KC to KCP Yes • DPB for BHI Banks with KP location in the Special Capital Region of Jakarta Province and Banten Province
KR or KO according to the location
of the office

KR or KO for BHI Banks
with KP location outside the Special Capital Region of Jakarta Province and Banten Province
KR or KO according to the location
of the office
6 Address Change:
a. KP resulting in change of domicile in the articles of association Yes • DPIP • DPB, KR or KO according to the location of the KP, and
KR or KO according to the address
of the destination

b. Regional Office to a different province
Yes • DPIP for BHI Banks with
KP location in the Special Capital Region of Jakarta Province and Banten Province

DPB, and
KR or KO according to the address
of origin and destination

KR or KO for BHI Banks
with KP location outside the Special Capital Region of Jakarta Province and Banten Province
KR or KO according to the address
of origin and destination
c. Foreign Office to a different city
Yes • DPIP for BHI Banks with
KP location in the Special Capital Region of Jakarta Province and Banten Province
DPB 5)
KR or KO for BHI Banks
with KP location outside the Special Capital Region of Jakarta and Banten Province

No Activity Online Submission Offline Submission or via OJK Correspondence System Copies Purpose Copies 7 Address Change:
a. KP not resulting in change of domicile in the articles of association b. Regional Office within the same province
c. Foreign Office within the same city
d. KC e. KCP f. KF conducting operational activities g. KF conducting non-operational activities Yes • DPB for BHI Banks with KP location in the Special Capital Region of Jakarta Province and Banten Province

-- 6)
KR or KO for BHI Banks
with KP location outside the Special Capital Region of Jakarta Province and Banten Province

8 Cancellation of Address Change:
a. KP resulting in change of domicile in the articles of association Yes As per the purpose in item 6 letter a above As per the copy in item 6 letter a above -- b. Regional Office to a different province Yes As per the purpose in item 6 letter b above As per the copy in item 6 letter b above --
c. Foreign Office to a different city
Yes As per the purpose in item 6 c above
As per the copy in item 6 c above

No Activity Online Submission Offline Submission or via OJK Correspondence System Copies Purpose Copies 9 Cancellation of Address Change:
a. KP not resulting in change of domicile in the articles of association b. Regional Office within the same province
c. Foreign Office within the same city
d. KC e. KCP f. KF conducting operational activities g. KF conducting non-operational activities Yes As per the purpose in item 7 above As per the copy in item 7 above -- 10 Closure:
a. Regional Office b. Branch Office (KC)
c. Foreign Office
Yes • DPIP for BHI Banks with
KP location in the Special Capital Region of Jakarta Province and Banten Province

DPB, KR or KO according to the location
of the office
--
KR or KO for BHI Banks
with KP location outside the Special Capital Region of Jakarta Province and Banten Province
KR or KO according to the location
of the office
--
11 Closure:
a. KCP b. KF conducting operational activities
c. KF conducting non-operational activities
Yes • DPB for BHI Banks with
KP location in the Special Capital Region of Jakarta Province and Banten Province
KR or KO according to the location
of the office
--
KR or KO for BHI Banks
with KP location outside the Special Capital Region of Jakarta Province and Banten Province
KR or KO according to the location
of the office
--
12 Cancellation of Closure:
a. Regional Office b. Branch Office (KC)
c. Foreign Office
Yes As per the purpose in item 10 above
As per the copy in item
10 above
--

No Activity Online Submission Offline Submission or via OJK Correspondence System Copies Purpose Copies 13 Cancellation of Closure:
a. KCP b. KF conducting operational activities
c. KF conducting non-operational activities
Yes As per the purpose in item 11 above
As per the copy in item
11 above

14 Revocation of Business License for BHI Bank Yes DPIP DPB, KR or KO according to the location of the BHI Bank KP -- B KCBLN:
1 Opening of KCBLN Via the OJK licensing system with procedures that refer to OJK Regulations regarding electronic licensing in the financial services sector DPIP --- -- 2 Name Change of KCBLN Yes DPIP DPB and KR or KO according to the location of the KCBLN. -- 3 Opening of KCP Yes As per the purpose in item 4 BHI Bank above As per the copy in item 4 BHI Bank above -- 4 Status Change:
a. Office under KCP to KCP b. KCP to Office under KCP Yes As per the purpose in item 5 BHI Bank above As per the copy in item 5 BHI Bank above -- 5 Address Change of KCBLN to a different province Yes As per the purpose in item 6 letter a BHI Bank above As per the copy in item 6 letter a BHI Bank above -- 6 Address Change:
a. KCBLN within the same province b. KCP
c. Office under KCP
d. KF conducting operational activities
Yes As per the purpose in item 7
BHI Bank above
As per the copy in item 7
BHI Bank above

No Activity Online Submission Offline Submission or via OJK Correspondence System Copies Purpose Copies e. KF conducting non-operational activities 7 Cancellation of Address Change KCBLN to a different province Yes As per the purpose in item 8 letter a BHI Bank above As per the copy in item 8 letter a BHI Bank above -- 8 Cancellation of Address Change:
a. KCBLN within the same province b. KCP
c. Office under KCP
d. KF conducting operational activities e. KF conducting non-operational activities Yes As per the purpose in item 9 BHI Bank above As per the copy in item 9 BHI Bank above -- 9 Closure of KCP Yes As per the purpose in item 10 letter b BHI Bank above As per the copy in item 10 letter b BHI Bank above -- 10 Closure:
a. Office under KCP b. KF conducting operational activities
c. KF conducting non-operational activities
Yes As per the purpose in item 11
BHI Bank above
As per the copy in item
11 BHI Bank above

11 Cancellation of KCP Closure Yes As per the purpose in item 12 letter b BHI Bank above As per the copy in item 12 letter b BHI Bank above.

12 Cancellation of Closure:
a. Office under KCP b. KF conducting operational activities
c. KF conducting non-operational activities
Yes As per the purpose in item 13
BHI Bank above
As per the copy in item
13 BHI Bank above

13 Revocation of Business License for KCBLN Yes DPIP DPB, KR or KO according to the location of the KCBLN -- C KPBLN 1 Opening of KPBLN Via the OJK licensing system with procedures that refer to DPIP -- --

No Activity Online Submission Offline Submission or via OJK Correspondence System Copies Purpose Copies OJK Regulations regarding electronic licensing in the financial services sector 2 Name Change of KPBLN Yes DPIP DPB and KR or KO according to the location of the KPBLN. -- 3 Closure of KPBLN Yes DPIP DPB and KR or KO according to the location of the KPBLN. -- DPIP (Licensing and Banking Information Department), DPB (Bank Supervision Department), KR (Regional Office), KO (OJK Office) Notes/Explanation:

Example:
a) PT Bank A with KP location in Jakarta will open a KC in Padang, thus PT Bank A submits an application for KC opening license to DPIP, with copies to the relevant DPB and OJK Office of West Sumatra. b) PT Bank B with KP location in Medan will open a KC in Bandung, thus PT Bank B submits an application for KC opening license to KR 5 North Sumatra, with copies to KR 2 West Java. c) PT Bank C with KP location in Semarang will open a KC in Jakarta, thus PT Bank C submits an application for KC opening license to KR 3 Central Java, with copies to KR 1 DKI Jakarta and Banten. d) PT Bank D with KP location in Jakarta will open a Foreign Office in Vienna (Austria), thus PT Bank D submits an application for Foreign Office opening license to DPIP, with copies to the relevant DPB. e) PT Bank E with KP location in Bandung will open a Foreign Office in Manchester (UK), thus PT Bank E submits an application for Foreign Office opening license to KR 2 West Java.
Example:
a) PT Bank F with KP location in Jakarta will change the status of a KC to KCP in Padang, thus PT Bank F informs the plan for changing the status of KC to KCP to the relevant DPB, with copies to the OJK Office of West Sumatra. b) PT Bank G with KP location in Jakarta will change the status of a KC to KCP in South Jakarta, thus PT Bank G informs the plan for changing the status of KC to KCP to the relevant DPB (without copies). c) PT Bank H with KP location in Surabaya will change the status of a KC to KCP in Jakarta, thus PT Bank H informs the plan for changing the status of KC to KCP to KR 4 East Java, with copies to KR 1 DKI Jakarta and Banten. d) PT Bank I with KP location in Medan will change the status of a KC to KCP in Medan, thus PT Bank I informs the plan for changing the status of KC to KCP to KR 5 North Sumatra (without copies).
Example:
a) PT Bank J with KP location in Jakarta will move the KP address to Bandung, thus PT Bank J submits an application for address change license to DPIP, with copies to the relevant DPB and KR 2 West Java. b) PT Bank K with KP location in Medan will move the KP address to Bandung, thus PT Bank K submits an application for address change license to DPIP, with copies to KR 5 North Sumatra and KR 2 West Java.
Example:
a) PT Bank L with KP location in Jakarta will move the Regional Office address from Lampung to Palembang, thus PT Bank L submits an application for address change license to DPIP, with copies to the relevant DPB, KR 7 South Sumatra and OJK Office Lampung. b) PT Bank M with KP location in Surabaya will move the Regional Office address from Bandung to Jakarta, thus PT Bank M submits an application for address change license to KR 4 East Java, with copies to KR 1 DKI Jakarta and Banten and KR 2 West Java.
Example:
a) PT Bank N with KP location in Jakarta will move the Foreign Office address from Tokyo to Osaka (Japan), with thus PT Bank N submits an application for address change license to DPIP, with copies to the relevant DPB. b) PT Bank O with KP location in Surabaya will move the Foreign Office address from Rome to Milan (Italy), thus PT Bank O submits an application for address change license to KR 4 East Java (without copies).
Example:
a) PT Bank P with KP location in South Jakarta will move the KP address to another address in South Jakarta, thus PT Bank P submits information on the plan for address change to the relevant DPB (without copies). b) PT Bank Q with KP location in Bandung will move the KP address to another address in Bandung, thus PT Bank A submits information on the plan for address change to KR 2 West Java (without copies).

II. Submission of Reports
No Activity Online Submission Offline Submission or via OJK Correspondence System Copies Purpose Copies A BHI Banks:
1 Appointment, dismissal, or replacement of Executive Officials and temporary appointment of Executive Officials of BHI Bank Via the OJK reporting system:
a. procedures refer to OJK Regulations regarding the OJK reporting system; and b. reporting period adjusted to the reporting period where the reported activity has been effectively realized DPB or KR or KO according to the KP location of BHI Bank DPIP -- 2 Provision, address change or termination of provision of TPE for BHI Bank Yes DPB or KR or KO according to the KP location of BHI Bank DPIP -- 3 Opening, status change, address change, and/or closure of the office network of BHI Bank Yes DPB or KR or KO according to the KP location of BHI Bank KR or KO according to the location of the office, and DPIP 1) B KCBLN:
1 Appointment, dismissal, or replacement of Executive Officials and temporary appointment of Executive Officials of KCBLN Via the OJK reporting system:
a. procedures refer to OJK Regulations regarding the OJK reporting system; and b. reporting period adjusted to the reporting period where the reported activity has been effectively realized DPB or KR or KO according to the location of KCBLN DPIP -- 2 Provision, address change or termination of provision of TPE for KCBLN Yes DPB or KR or KO according to the location of KCBLN DPIP -- 3 Opening, status change, address change, and/or closure of the office network of KCBLN Yes DPB or KR or KO according to the location of KCBLN KR or KO according to the location of the office, and DPIP 2) DPIP (Licensing and Banking Information Department), DPB (Bank Supervision Department), KR (Regional Office), KO (OJK Office)

Notes/Explanation:

Example:
a. PT Bank R with KP location in Jakarta has moved the KC address to a different city in West Sumatra. Thus PT Bank R reports the KC address change to the relevant DPB, with copies to the OJK Office of West Sumatra and DPIP. b. PT Bank S with KP location in Medan has moved the KC address to a different city in West Java. Thus PT Bank S reports the KC address change to KR 5 North Sumatra, with copies to KR 2 West Java, OJK Office Tasikmalaya (if the address change is within the operational area of OJK Office Tasikmalaya) and DPIP.
Example:
a. KCBLN A located in Jakarta has moved the KCP address to a different city in East Java. Thus KCBLN A reports the KCP address change to the relevant DPB, with copies to KR 4 East Java and DPIP. b. KCBLN B located in Denpasar has moved the KCP address to a different city in West Java. Thus KCBLN B reports the KCP address change to KR 8 Bali and Nusa Tenggara, with copies to KR 2 West Java, OJK Office Tasikmalaya (if the address change is within the operational area of OJK Office Tasikmalaya) and DPIP.

III. Submission of Information and/or Data

No. Activity Submission	Purpose / Copy Recipient
A. Bank BHI:
1. Bank BHI's corporate plan, including amendments, if any, in accordance with the location of Bank BHI's Head Office (KP)	--
2. Report on the implementation of Bank BHI's business activities (related to the establishment of Bank BHI)	DPIP, DPB, KR, or KO in accordance with the location of Bank BHI's Head Office (KP)
3. Changes to the Board of Directors and/or Board of Commissioners of Bank BHI's legal entity	DPB, KR, or KO in accordance with the location of Bank BHI's Head Office (KP)
4. Changes to Bank BHI's paid-up capital caused by dividends distributed in the form of shares	DPB, KR, or KO in accordance with the location of Bank BHI's Head Office (KP)
5. Changes to the share ownership composition of Bank BHI recorded in the Articles of Association that do not result in a change of control:
a. addition of paid-up capital; b. does not change the amount of paid-up capital	DPB, KR, or KO in accordance with the location of Bank BHI's Head Office (KP)
6. Report on the composition or list of share ownership	DPB, KR, or KO in accordance with the location of Bank BHI's Head Office (KP)
---	---
7. Changes to the share ownership composition of Bank BHI recorded in the Articles of Association caused by share gifts or inheritance, and not resulting in a change in paid-up capital	DPB, KR, or KO in accordance with the location of Bank BHI's Head Office (KP)
8. Changes to Bank BHI's authorized capital	DPB, KR, or KO in accordance with the location of Bank BHI's Head Office (KP)
9. Appointment of members of the Board of Directors or members of the Board of Commissioners of Bank BHI	DPB, KR, or KO in accordance with the location of Bank BHI's Head Office (KP)
10. Dismissal, resignation, or death of members of the Board of Directors and/or members of the Board of Commissioners of Bank BHI	DPB, KR, or KO in accordance with the location of Bank BHI's Head Office (KP)
11. Copy of the license to open Bank BHI's Office Abroad from the local country's authority	DPB, KR, or KO in accordance with the location of Bank BHI's Head Office (KP)
12. Report on the amendment of the Articles of Association approved by the competent authority and the RUPS deed approving the transfer of the Head Office (KP) address resulting in a change of domicile	DPB, KR, or KO in accordance with the location of Bank BHI's Head Office (KP)
13. Copy of the license to transfer the address of the Office Abroad from the local country's authority	DPB, KR, or KO in accordance with the location of Bank BHI's Head Office (KP)
14. Report on the amendment of the Articles of Association approved by the competent authority and the RUPS deed approving the cancellation of the Head Office (KP) address transfer resulting in a change of domicile	DPB, KR, or KO in accordance with the location of Bank BHI's Head Office (KP)
15. Temporary transfer of the address of Bank BHI's branch network	DPB, KR, or KO in accordance with the location of Bank BHI's Head Office (KP)
16. Information on the effective operation of Bank BHI's office address at the previous address in connection with the temporary transfer of the address of Bank BHI's branch network	DPB, KR, or KO in accordance with the location of Bank BHI's Head Office (KP)
17. Information on proof of settlement of rights and obligations of Regional Offices (Kanwil), Branch Offices (KC), and Offices Abroad to customers and/or other parties in connection with the closure of Regional Offices (Kanwil), Branch Offices (KC), and Offices Abroad	DPB, KR, or KO in accordance with the location of Bank BHI's Head Office (KP)
18. Copy of the approval to close the Office Abroad from the local country's authority, in connection with the closure of the Office Abroad	DPB, KR, or KO in accordance with the location of Bank BHI's Head Office (KP)
19. Information on the temporary closure of Bank BHI's offices other than the Head Office (KP)	DPB, KR, or KO in accordance with the location of Bank BHI's Head Office (KP)
20. Information on the effective operation of Bank BHI's office address at the previous address in connection with the temporary closure of Bank BHI's offices other than the Head Office (KP)	DPB, KR, or KO in accordance with the location of Bank BHI's Head Office (KP)
21. Proof of announcement of Bank BHI's name change	DPB, KR, or KO in accordance with the location of Bank BHI's Head Office (KP)
22. Change of Bank BHI's logo	DPB, KR, or KO in accordance with the location of Bank BHI's Head Office (KP)
23. Information on the implementation and proof of announcement of Bank BHI's logo change	DPB, KR, or KO in accordance with the location of Bank BHI's Head Office (KP)
24. Report on the amendment of Bank BHI's Articles of Association	DPB, KR, or KO in accordance with the location of Bank BHI's Head Office (KP)
25. Bank BHI's closing balance sheet audited by a public accountant related to the revocation of Bank BHI's business license	DPB, KR, or KO in accordance with the location of Bank BHI's Head Office (KP)
26. Copy of the Banking Synergy Cooperation Agreement, including amendments, if any, and the report on the termination of cooperation	DPB, KR, or KO in accordance with the location of Bank BHI's Head Office (KP)
27. Minutes of the General Meeting of Shareholders (RUPS) other than parts of the licensing or reporting process in this OJK Regulation.	DPB, KR, or KO in accordance with the location of Bank BHI's Head Office (KP)
B. Foreign Branch Office (KCBLN):
1. KCBLN's corporate plan, including amendments, if any	DPB, KR, or KO in accordance with the location of KCBLN
2. Report on the implementation of KCBLN's business activities (related to the opening of KCBLN)	DPIP, DPB, KR, or KO in accordance with the location of KCBLN
3. Appointment of members of the Board of Directors of KCBLN	DPB, KR, or KO in accordance with the location of KCBLN
4. Dismissal, resignation, or death of members of the Board of Directors of KCBLN	DPB, KR, or KO in accordance with the location of KCBLN
5. Temporary transfer of the address of KCBLN's branch network	DPB, KR, or KO in accordance with the location of KCBLN
6. Information on the effective operation of KCBLN's office address at the previous address in connection with the temporary transfer of the address of KCBLN's branch network	DPB, KR, or KO in accordance with the location of KCBLN
7. Information on proof of settlement of rights and obligations of Branch Offices (KCP) to customers and/or other parties in connection with the closure of KCP	DPB, KR, or KO in accordance with the location of KCBLN
8. Information on the temporary closure of KCBLN's branch network other than KCBLN	DPB, KR, or KO in accordance with the location of KCBLN
9. Information on the effective operation of KCBLN's branch network address at the previous address in connection with the temporary closure of KCBLN's branch network other than KCBLN	DPB, KR, or KO in accordance with the location of KCBLN
10. Proof of announcement of KCBLN's name change	DPB, KR, or KO in accordance with the location of KCBLN
11. Change of the legal entity form of KCBLN's head office	DPB, KR, or KO in accordance with the location of KCBLN
12. Proof of announcement of the change of the legal entity form of KCBLN's head office	DPB, KR, or KO in accordance with the location of KCBLN
13. Change of KCBLN's logo	DPB, KR, or KO in accordance with the location of KCBLN
14. Information on the implementation and proof of announcement of KCBLN's logo change	DPB, KR, or KO in accordance with the location of KCBLN
15. Report on the implementation of KCBLN's closure and KCBLN's closing balance sheet audited by a public accountant related to the revocation of KCBLN's business license	DPB, KR, or KO in accordance with the location of KCBLN
C. Foreign Head Office (KPBLN):
1. Appointment of the Head of KPBLN	DPB, KR, or KO in accordance with the location of KPBLN
2. Dismissal, resignation, or death of the Head of KPBLN	DPB, KR, or KO in accordance with the location of KPBLN
3. Reporting of KPBLN regarding debtors in Indonesia who receive loans and/or obtain bank guarantees from the head office or branch office abroad	DPB, KR, or KO in accordance with the location of KPBLN
4. Submission of KPBLN's work plan	DPB, KR, or KO in accordance with the location of KPBLN
5. Transfer of KPBLN's address	DPB, KR, or KO in accordance with the location of KPBLN
6. Change of the legal entity form of KPBLN's head office	DPB, KR, or KO in accordance with the location of KPBLN
7. Report on the implementation of KPBLN's closure	DPB, KR, or KO in accordance with the location of KPBLN

DPIP (Banking Licensing and Information Department), DPB (Bank Supervision Department), KR (Regional Office), KO (OJK Office)

Determined in Jakarta on July 30, 2021

CHAIRMAN OF THE COMMISSIONER COUNCIL
FINANCIAL SERVICES AUTHORITY
REPUBLIC OF INDONESIA,

signed
WIMBOH SANTOSO

Financial Services Authority Regulation Number 12 of 2021 Concerning Commercial Banks

No Activity Online Submission Offline Submission or via OJK Correspondence System Copies Purpose Copies 13 Cancellation of Closure:
a. KCP b. KF conducting operational activities
c. KF conducting non-operational activities
Yes As per the purpose in item 11 above
As per the copy in item
11 above

11 Cancellation of KCP Closure Yes As per the purpose in item 12 letter b BHI Bank above As per the copy in item 12 letter b BHI Bank above.

12 Cancellation of Closure:
a. Office under KCP b. KF conducting operational activities
c. KF conducting non-operational activities
Yes As per the purpose in item 13
BHI Bank above
As per the copy in item
13 BHI Bank above

Lineage: In force

Similar documents from other regulators

Financial Services Authority Regulation Number 12 of 2021 Concerning Commercial Banks

No Activity Online Submission Offline Submission or via OJK Correspondence System Copies Purpose Copies 13 Cancellation of Closure: a. KCP b. KF conducting operational activities c. KF conducting non-operational activities Yes As per the purpose in item 11 above As per the copy in item 11 above

11 Cancellation of KCP Closure Yes As per the purpose in item 12 letter b BHI Bank above As per the copy in item 12 letter b BHI Bank above.

12 Cancellation of Closure: a. Office under KCP b. KF conducting operational activities c. KF conducting non-operational activities Yes As per the purpose in item 13 BHI Bank above As per the copy in item 13 BHI Bank above

Lineage: In force

Similar documents from other regulators

No Activity Online Submission Offline Submission or via OJK Correspondence System Copies Purpose Copies 13 Cancellation of Closure:
a. KCP b. KF conducting operational activities
c. KF conducting non-operational activities
Yes As per the purpose in item 11 above
As per the copy in item
11 above

12 Cancellation of Closure:
a. Office under KCP b. KF conducting operational activities
c. KF conducting non-operational activities
Yes As per the purpose in item 13
BHI Bank above
As per the copy in item
13 BHI Bank above