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The spin-off of insurance company’s sharia units // Corporate
The Linklaters Podcast
English - October 19, 2023 02:55 - 11 minutes - 20.9 MBBusiness Technology fintech law regulation payments psd sca digital crypto libra Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
This podcast series is curated by our formal association firm in Indonesia, Widyawan & Partners.
Episode 4: Regulatory Developments in Indonesia – a Multi-Sectoral Highlight
The Financial Services Authority (“OJK”) finally issued the long awaited OJK Regulation No. 11 of 2023 on Spin-off of Sharia Units of Insurance Companies and Reinsurance Companies (“OJK Reg 11”). The obligation to spin-off sharia unit was mandated by the Insurance Law. However, due to lack of guidelines to implement this spin-off requirement, only few insurers have completed their sharia unit spin-off. OJK Reg 11 is issued to accommodate feedback from the industry to give clearer guidance on the spin-off requirements. This OJK Reg 11 is expected to boost the insurers’ compliance to spin-off its sharia unit, the topic will be discussed by our corporate M&A partner, Teguh Arwiko and managing associate, Tengku Almira Adlinisa in this episode.
To listen to all episodes in this series, visit our Regulatory Developments in Indonesia – a Multi-Sectoral Highlight.