OJK Regulation No. 7 of 2024: Transformative Changes in Indonesia’s Rural Banking Sector

The Financial Services Authority of Indonesia (OJK)has enacted OJK Regulation No. 7 of 2024 (“POJK 7/2024”) in order to drive responsible and sustainable growth in Indonesia’s rural banking sector. By introducing POJK 7/2024, OJK aims to elevate developmental and regulatory standards across the industry. This update provides valuable insight into the potential impact of the new regulation, with a focus on the significant changes and their implications for existing rural banks or those looking to venture into the rural banking industry.

Please see here for further details on our Client Update