OJK published circulars concerning business plans for commercial banks, Islamic commercial banks, and Sharia business units. In accordance with the OJK Regulation concerning bank business plans, commercial and Islamic banks are required to submit Business Plans, Business Plan Realization Reports, and Business Plan Supervisory Reports. The circular for commercial banks came into effect on March 31, 2021 while the circular for Islamic commercial banks and sharia business units came into effect on April 30, 2021.
The circulars highlight the following key points:
- Commercial and Islamic banks shall submit a Business Plan Realization Report in accordance with the circulars for the first time for the position of the March 2021 report data.
- Commercial and Islamic banks shall submit a Business Plan Supervisory Report in accordance with the circulars for the first time for the position of the June 2021 report data.
- Commercial and Islamic banks shall submit a Business Plan in accordance with the circulars for the first time for the 2022 Business Plan.
- In the event that a commercial or an Islamic bank makes adjustments and/or changes to the 2021 Business Plan, the commercial or Islamic bank will use the format used in the preparation of the 2021 Business Plan.
- Adjustments and/or changes to the 2021 Business Plan are required to be submitted offline.
Related Links (Indonesian)
Effective Date: March 31, 2021/April 30, 2021
Keywords: Asia Pacific, Indonesia, Banking, Islamic Banks, Business Plan, Reporting, OJK
Previous ArticleIFRS Issues Proposals Related to New Sustainability Standards Board
ECB published Guideline 2021/975, which amends Guideline ECB/2014/31, on the additional temporary measures relating to Eurosystem refinancing operations and eligibility of collateral.
EIOPA published a report, from the Consultative Expert Group on Digital Ethics, that sets out artificial intelligence governance principles for an ethical and trustworthy artificial intelligence in the insurance sector in EU.
HKMA published the seventh and final issue of the Regtech Watch series, which outlines the three-year roadmap of HKMA to integrate supervisory technology, or suptech, into its processes.
EC launched a targeted consultation to improve transparency and efficiency in the secondary markets for nonperforming loans (NPLs).
BIS, Danmarks Nationalbank, Central Bank of Iceland, Norges Bank, and Sveriges Riksbank launched an Innovation Hub in Stockholm, making this the fifth BIS Innovation Hub Center to be opened in the past two years.
FDITECH, the technology lab of FDIC, announced a tech sprint that is designed to explore new technologies and techniques that would help expand the capabilities of community banks to meet the needs of unbanked individuals and households.
EC released the EU Taxonomy Compass, which visually represents the contents of the EU Taxonomy starting with the EU Taxonomy Climate Delegated Act.
FDIC is seeking comments on a rule to amend the interagency guidelines for real estate lending policies—also known as the Real Estate Lending Standards.
EIOPA published its annual report, which sets out the work done in 2020 and indicates the planned work areas for the coming months.
The ESRB paper that presents an analytical framework that assesses and quantifies the potential impact of a bank failure on the real economy through the lending function.