INDONESIA has launched a crackdown on peer-to-peer (P2P) lenders through a new regulation and capital requirements, in a move that industry sources say should help clean up a booming online lending sector beset by consumer complaints. The rules, announced this month by Indonesia’s financial services authorities (OJK), set a minimum capital requirement for lenders at […]
Read MoreEconomist at UOB Group Enrico Tanuwidjaja comments on the latest interest rate decision by the Bank Indonesia (BI). Key Takeaways “Bank Indonesia (BI) kept its benchmark rate (7-Day Reverse Repo) unchanged at 3.50% at its Jul MPC meeting.” “BI continue to opt for liquidity normalisation of Rupiah Reserve Requirement (RR) hike to reach 9.0% starting on 1 September 2022 […]
Read MoreJAKARTA: Indonesia is considering removing a domestic sales requirement for palm oil exports because high inventories of the vegetable oil have been holding back a recovery of palm oil fruit prices, Trade Minister Zulkifli Hasan said on Friday. Since ending a temporary ban on exports in late May, the world’s biggest palm oil producer has […]
Read MoreVietnamese Minister of Foreign Affairs Bui Thanh Son and Indonesian counterpart Retno Marsudi on Wednesday co-chaired the fourth meeting of the Joint Committee on Bilateral Cooperation held in Jakarta, Indonesia. Welcoming Son to the country, the Indonesian foreign minister said the visit is significant especially as the two countries have reopened following COVID-19 restrictions, which […]
Read MoreJAKARTA: Indonesia’s central bank kept its benchmark interest rate unchanged at a record low on Thursday, as expected, saying the level remained consistent with its inflation target and supporting economic growth. Bank Indonesia (BI) left the benchmark seven-day reverse repurchase rate at 3.50%, where it has been since February 2021, as forecast by most analysts […]
Read MoreJAKARTA : Foreign direct investment (FDI) into Indonesia rose 39.7 per cent annually in the April-June period in rupiah terms to 163.2 trillion rupiah ($10.89 billion), Investment Minister Bahlil Lahadalia said on Wednesday. The FDI, which excludes investment in banking and the oil and gas sectors, grew 31.8 per cent in the January-March period. ($1 […]
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