OJK integrates business plan requirements for non-banking financial institutions (NBFIs)

On 19 September 2019, the Financial Services Authority (OJK) issued OJK Regulation No. 24/POJK.05/2019 on Business Plans for Non-Banking Financial Institutions (NBFI Business Plan Regulation). Whilst this long-awaited regulation came into force on 27 September 2019, it was only made publicly available on the OJK website in late October 2019.

The NBFI Business Plan Regulation defines a business plan as a written document that describes development and business activities plan of NBFI over a certain period of time, as well as various strategies that will be undertaken to realise such plan in accordance with predetermined targets (business plan). Business plans are important to the OJK as the regulator uses them to prepare its own supervisory plan for the NBFI sector.

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