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View all search resultsAceh's Qanun No. 11/2018 on sharia financial institutions has prompted at least five conventional banks to leave the province. Some are making their operations sharia-compliant, while others are leaving for good.
Indonesia’s big four banks are increasing their efforts to phase out magnetic strip debit cards and replace them with chip-based cards to comply with Bank Indonesia’s (BI) directive to improve the nation’s digital security.
The US’ International Development Finance Corporation (IDFC), said to be a direct competition to China’s growing influence in projects across developing countries through the Belt and Road Initiative (BRI), arrived in Jakarta on Friday to cements its participation in Indonesia’s development projects.
The government has set its sights on diversifying its funding sources for big ticket infrastructure projects to the United States after earlier this year proposing $91.1 billion infrastructure projects to be funded by China.
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