Mr Maher Asmoro Putra Sasongko

Maher Asmoro Putra Sasongko

Updates

Banking

New Bank Indonesia regulation on prudential rules for offshore debt and FX-denominated liabilities
Indonesia | 22 March 2019

Bank Indonesia recently issued an umbrella regulation on the application of prudential norms. As with the now revoked Regulation on Offshore Loans in the Banking Sector (as amended), Regulation 21 stresses the importance of compliance with prudential norms for maintaining macroeconomic and financial system stability. However, while the previous regulation's scope was confined to offshore bank loans, Regulation 21 encompasses "offshore bank debt and FX-denominated other bank liabilities".

Company & Commercial

Long-awaited regulation on Language Law finally introduced – but questions remain
Indonesia | 28 October 2019

After a 10-year delay, a presidential regulation has finally been issued to give effect to key language provisions of the Law on the National Flag, Language, Coat of Arms and Anthem. Of primary interest to businesses are the provisions on contractual language, as they refer to the controversial requirement that agreements involving an Indonesian party must be written in Indonesian and that agreements involving a foreign party must also be written in the national language of the foreign party or in English.