New Standards of Fit-Proper Tests for BUS/UUS DPS Member Candidates in the Pipeline

The Financial Services Authority (Otoritas Jasa Keuangan– “ OJK ”) is currently preparing a (“ Draft Circular ”) on the Application of Sharia Governance by Sharia Commercial Banks (Bank Umum Syariah– “ BUS ”) and Sharia Business Units (Unit Usaha Syariah– “ UUS ”) (collectively referred to as “ Banks ”), which further details the application of sharia governance by Banks, as originally mandated under Regulation of the OJK , which bears the same title as the Draft Circular (“ Regulation 2/2024 ”). [1] It should be noted that Regulation 2/2024 was previously analyzed by Hukumonline’s Legal Research and Analysis team in the following edition of Indonesian Legal Brief (“ ILB ”): ”.