In order to provide better consumer protection which refers to international best practices and which can respond to product innovations and the digitalization of products and/or services within the financial services sector, Bank Indonesia (“ BI ”) has issued Regulation No. 22/20/PBI/2020 on Bank Indonesia Consumer Protection (“ Regulation 20/2020 ”). In essence, Regulation 20/2020 updates guidelines that address the protection of the consumers of organizers of products and/or services that are regulated and supervised by BI. [1]
BI Consumer Protection Expanded
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