The Double-Edged Sword of the Finance Omnibus Law
The new financial regulation regime that drastically changes many aspects of Indonesian financial architecture is passed into law. There are many shortcomings that could threaten the financial system.
Tempo
December 26, 2022
THE passing of the Financial Sector Development and Strengthening Law (PPSK Law) marks a new era in the regulation of our financial system. As well as including provisions necessary to control a number of new business sectors, the omnibus law also brought risks because the government has extensive authority over the financial sector.
On December 15, the House of Representatives (DPR) passed the PPSK Law, which was first proposed more than five y
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