Provisions on Branchless Banking Services Updated

In an attempt to boost the efficiency of branchless banking services, [1] the Financial Services Authority (Otoritas Jasa Keuangan– “ OJK ”) has finally issued Regulation No. 1/POJK.03/2022 on Branchless Banking Services under the Inclusive Financial Framework (“ Regulation 1/2022 ”), which repeals and replaces [2] Regulation of the OJK No. 19/POJK.03/2014 , which bore the same title (“ Previous Regulation ”), [3] as the new legal framework for branchless banking services.