Regulatory Alerts2011-02-08
Bank Indonesia Regulation Number 13/9/PBI/2011 Concerning Amendment To Bank Indonesia Regulation Number 10/18/PBI/2008 Concerning Restructuring Of Financing For Islamic Banks And Islamic Business Units
Bank Indonesia issued Regulation Number 13/9/PBI/2011 to amend prudential standards for the restructuring of financing by Islamic Banks and Islamic Business Units. The regulation mandates that banks establish written policies and standard operating procedures to limit restructuring frequency, while defining specific criteria for customer eligibility and post-restructuring asset quality classification. Additionally, it introduces mandatory online reporting requirements for restructuring activities, accompanied by defined penalties for non-compliance and exemptions for rural Islamic banks facing technical or infrastructural limitations.
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