29 October 2020
This article reviews and comments on the key changes made to the banking sector due to the Omnibus Law on Job Creation (“Omnibus Law”) that was approved by Indonesia’s House of Representatives on 5 October 2020. This article is prepared based on the 812-page draft that was widely circulated on 13 October 2020. The Omnibus Law aims to simplify business licensing and improve the ease of doing business in Indonesia. Several provisions of the current banking law have been amended, although these amendments are not very significant or controversial.
This is an extract of an article by Soemadipradja & Taher, an Indonesian law firm with which Allen & Gledhill has a strategic alliance. To read the full article, please click here.