Indonesia: Financial Services

Indonesia’s economy continues to grow at some pace, with Gross Merchandise Value projected to more than double by the end of the decade.

For many years, the idea of realizing intellectual property (“IP”) as an ‘asset’ to generate ‘actual money’ in Indonesia existed more as a legislative promise than a practical reality.

Cross-border M&A transactions often face execution challenges when global assumptions meet local regulatory realities, particularly in jurisdictions where approval processes involve iterative engagement rather than linear reviews. Using Indonesia's financial sector as a case study, this analysis examines how regulatory dynamics—especially the fit and proper assessment process—can extend transaction timelines beyond initial expectations and what strategies can improve execution certainty.

With the rapid expansion of digital assets in Indonesia and growing market interest in Initial Coin Offerings ("ICOs") and Initial Token Offerings ("ITOs")...

On October 1, 2025, Indonesia's Ministry of Investment and Downstream Industry/BKPM issued Regulation No. 5 of 2025 on Guidance and Implementation of Risk-Based Business Licensing...

Indonesia is undergoing a pivotal transformation in the regulation of crypto-assets. With the enactment of Law No 4 of 2023 regarding the Development and Strengthening of the Financial Sector dated 12 January 2023 (the "PPSK Law") and its implementing regulations, as of January 2025.

It is important that any business in Indonesia knows about the implementation of Environmental, Social, and Governance ("ESG") principles under the Indonesian law in commencing their operation.

On 25 October 2024, the Ministry of Finance ("MoF") enacted MoF Regulation No. 86 of 2024 on Auction Minutes ("MoFR 86/2024"), to effectively implement...

Over the past decade, numerous cases of fraud have been recorded in Indonesia's financial service sector.