Technical Provisions for the Reporting and Requesting of Debtor Information through the Financial Information Services System

The Financial Services Authority (Otoritas Jasa Keuangan– “ OJK ”) has issued Circular No. 50/SEOJK.03/2017 on Reporting and Requests for Debtor Information through the Financial Information Services System (“ Circular 50/2017 ”), which will serve as an implementation of OJK Regulation No. 18/POJK.03/2017 (“ Regulation 18/2017 ”). [1] In essence, Circular 50/2017 establishes the Financial Information Services System (Sistem Layanan Informasi Keuangan– “SLIK” ) as a medium for the exchange of credit information between financial institutions which are managed by the OJK, [2] and replaces the now obsolete Debtor Information System (Sistem Informasi Debitur- “ SID ”), which was managed by Bank Indonesia (“ BI ”) and which was previously regulated under the following circulars (collectively referred to as “Previous Circulars” ): [3]