Regulatory Alerts2026-02-23
Added · Updated
Use of Foreign Workers and Knowledge Transfer Programs by Commercial Banks
The Financial Services Authority (OJK) issued Regulation No. 1 of 2026 to replace outdated rules on foreign worker utilization in the banking sector, aiming to enhance industry resilience and national economic development. The regulation establishes principles for employing foreign workers, including permissible roles, a maximum five-year tenure, and specific obligations for banks and foreign representative offices. It also mandates a structured process for planning, approval, reporting, and knowledge transfer programs to develop the competency of national human resources.
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