Since its enactment in 2000, regulations on bank secrecy in Indonesia have undergone various changes in line with the dynamics of the financial sector. Initially, this provision was regulated in Bank Indonesia Regulation No. 2/19/PBI/2000 (“PBI 2/2000”), which affirmed the obligation of banks to maintain the confidentiality of customer information of their depositors and depositors, … Read more
EXPANSION OF THE SCOPE OF INVESTMENT FACILITIES FOR IKN BUSINESS ACTORS ON GR 29/2024 As a step towards realizing the Capital City of Nusantara (Ibu Kota Nusantara – “IKN”) as a sustainable global city, the government issued Regulation Number 12/2023 on the Issuance of Business Licenses, Ease of Doing Business and Investment Facilities for Business … Read more
The Information Technology (IT) environment within a company has significantly changed with advancements in information systems (system and software) and technological advancement of utilized hardware. Due to these circumstances, understanding IT General Controls (ITGC), also known as General IT Controls, has become crucial. Additionally, information security frameworks from international organizations standards (COSO, ISACA, ISO) have … Read more
In response to a judicial review of Law Number 6 of 2023 on the Enactment of Regulation of the Government in Lieu of Law Number 2 of 2022 on Job Creation into Law (“Law 6/2023), the Constitutional Court (“MK”) issued Decision Number 168/PUU-XII/2023 (“Decision 168/2023”) on December 1st, 2023, following a petition filed by a … Read more
A banking company is in an industry that is full of regulations and involves complex information technology in its business processes. Information technology is fundamental to banking business activities, improving customer experience and operational efficiency. The transformation of information technology and digital technology brings challenges in maintaining security, complying with regulations and managing risk. IT … Read more
In the ever-evolving digital era, Information Technology (IT) has become the backbone of operations in many industries, including banking. Modern banks rely on robust and reliable IT systems to support their operations, from basic transactions to complex data analytics. Therefore, it is crucial for banks to have strong controls over their IT infrastructure, and Information … Read more
Terminologically, the word cryptocurrency originates from two words, cryptography and currency. As reported by Investopedia.com, cryptocurrency is a digital currency based on cryptography within a distributed network among computers on a large scale. Cryptography is a security system that makes cryptocurrency safe from counterfeiting and double spending issues. Most cryptocurrencies are built using blockchain technology. … Read more
Indonesia is a country with the largest nickel reserves in the world, which are concentrated on the islands of Sulawesi and Maluku. Geologically, the islands of Sulawesi and Maluku were formed by intense tectonic activity, which made it possible for nickel deposits to occur. Volcanic activity and volcanic eruptions contribute to the creation of an … Read more
Indonesia is a country that plays an important role in the global mining industry. Located in the Pacific Ring of Fire, Indonesia consists of 17,000 islands with abundant natural resources, characterized by the content and production of mining goods such as coal, oil and natural gas; nickel ore; gold and silver ore; copper ore; bauxite … Read more
Minister of Energy and Mineral Resources Regulation No. 11 of 2019, effective since January 1, 2020, prohibits nickel mining companies in Indonesia from exporting nickel ore due to the excessive volume of nickel exports. The primary reason for implementing this policy is to ensure the limited reserve sustainability. The proven reserve for Indonesia’s national nickel … Read more
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