BPR Proposes Revision of the Banking Law

Rural Bank (Bank Perekonomian Rakyat– “ BPR ”) proposes a revision of Law No. 10 of 1998 on the Amendment to Law No. 7 of 1992 on Banking (collectively referred to as “ Banking Law ”) to align with recent developments.

The revisions may take into account other regulations. “With the existence of Law No. 4 of 2023 on the Development and Strengthening of the Financial Sector (“ P2SK Law ”) and Regulations of the Financial Services Authority (Otoritas Jasa Keuangan– “ OJK ”), the Banking Law can be adjusted. As there are several differences, whether they help strengthen or weaken the existence of Rural Bank, this needs to be reviewed,” said Hendi Apriliyanto, President Director of PT Nusantara Bona Pasogit, to Hukumonline.

He desires alignment in the translation and implementation of regulations so that the role of Rural Bank becomes stronger, can develop in accordance with business analysis and needs, and continue to contribute to building the national economy.