Regulatory AlertsChange of Business Activities of Rural Banks to Sharia Rural Banks
The Financial Services Authority (OJK) of Indonesia issued Circular Letter No. 7/SEOJK.03/2023 to regulate the conversion of Rural Banks (BPR) into Sharia Rural Banks (BPRS). This regulation outlines the procedural requirements and business activity changes necessary for BPRs to transition to the Sharia banking system. It became effective on February 21, 2023, under the Banking and Sharia Banking sub-sector.
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Change of Business Activities of Rural Banks to Sharia Rural Banks
Sector: Banking
Sub-Sector: BPR; Sharia Banking
Type of Regulation: OJK Circular Letter
Regulation Number: 7/SEOJK.03/2023
Effective Date: 2/21/2023
Attachment 1 SEOJK 7 - 03 - 2023.pdf SUMMARY OF SEOJK 7 - 03 - 2023.pdf
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Circular Letter of the Financial Services Authority of the Republic of Indonesia Number 7/SEOJK.03/2023 Concerning Change of Business Activities of Rural Banks to Sharia Rural Banks.