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
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