Hamud M. Balfas



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Procedure for objection on sanction in capital market

Indonesia - February 25 2013 The Head of the Capital Market and Financial Institution Supervisory Agency ("Bapepam-LK") issued, on 5 December 2012, her Decision No…

Indonesian banks to provide broader trust services

Indonesia - January 22 2013 Although Indonesian banking law No. 7/1992 (as amended, "Law No. 7/1992") allows Indonesian banks to provide trust services, Indonesian banks have…

Regulation on bank ownership in Indonesia

Indonesia - November 14 2012 After many heated debates among regulators and politicians on what was seen as unhealthy concentrated ownership of banks by groups of companies, particularly foreign groups of companies, Bank Indonesia as the country’s central bank and regulator of the industry has issued its Regulation No. 14/8/PBI/2012 regarding Ownership of Shares in Commercial Banks (the “Regulation”).

New regulations on Shariah based money market in Indonesia

Indonesia - November 14 2012 Act No. 21 of 2008 regarding Shariah Banking that was enacted on 16 July 2008 has been proven to be a sound legal base for the shariah financial industry in Indonesia.

New export procedures for mining products introduced

Indonesia - August 28 2012 In an effort to curb raw mineral exports, the minister of trade has issued the Regulation on Provisions of Mining Products Export.