LPS Officially Expands List of Available Banks for BPR and BPRS Premium Payments: More Flexibility for Improved Compliance

Pursuant to Regulation of the Deposit Insurance Corporation (Lembaga Penjamin Simpanan– “ LPS ”) No. 1 of 2020 (“ Regulation 1/2020 ”) and Regulation of the LPS No. 1 of 2023 (“ Regulation 1/2023 ”), [1] conventional and sharia commercial banks, sharia business units, as well as conventional and sharia rural banks (collectively referred to as “ Banks ”) are mandated to settle the applicable deposit premiums (“ Premiums ”) with the LPS. [2]