Regulation on Housing Credit/Financing Schemes for Low-Income Citizens Amended

The Minister of Public Works and Public Housing (“ Minister ”) recently issued Regulation of the Minister No. 12/PRT/M/2018 (“ Amendment ”), which amends Regulation of the Minister No. 18/PRT/M/2017 on Savings-Based Housing Financing Facilities (“ Regulation 18/2017 ”). [1] The Amendment addresses an updated set of guidelines for government and banks as regards the organization of savings-based housing financing facilities (Bantuan Pembiayaan Perumahan Berbasis Tabungan –“ BP2BT ”) for low-income citizens (Masyarakat Berpenghasilan Rendah –“ MBR ”). The update itself encompasses the following matters: