Nowhere to Hide: Heightened Transparency Policy for Conventional Banks Prime Lending Rate Information

In order to further strengthen the transparency of conventional banks’ (“ Banks ”) credit rate, as mandated under Law No. 7 of 1992 on Banking and its Amendments , the Financial Service Authority (Otoritas Jasa Keuangan– “ OJK ”) has issued Regulation No. 13 of 2024 on the Transparency and Publication of Prime Lending Rates (Suku Bunga Dasar Kredit– “ SBDK ”) by Conventional Banks (“ Regulation 13/2024 ”), which came into force on 12 August 2024. [1]