Commission XI of Indonesia’s House of Representatives (DPR), which oversees the country’s banking sector, will soon propose a new draft of a bill that sets to limit foreign ownership in Indonesian banks at 40 percent (from 99 percent currently). Established banks that are majority-owned by foreigners will be given a 10-year period to divest their shares after the bill has been passed into law (reportedly an earlier draft only provided a five-year transition period for this mandatory divestment).
Update COVID-19 in Indonesia: 248,852 confirmed infections, 9,677 deaths (21 September 2020)
21 September 2020 (closed)
USD/IDR (14,782) +59.00 +0.40%
EUR/IDR (17,387) -76.37 -0.44%
Jakarta Composite Index (4,999.36) -59.86 -1.18%