( June 18, 2026, 04:11 GMT | Official Statement) -- MLex Summary: Indonesia's Financial Services Authority, or OJK, has given certain non-bank financial services providers until Dec. 31, 2027, to transfer their portfolios and cease offering buy now, pay later, or BNPL, products. In a statement issued on Tuesday, the regulator said the transition period applies to financial services providers other than commercial banks and finance companies, as part of a broader package of industry-development measures. OJK said the policy is intended to provide legal certainty while supporting stability in the financing, venture capital, microfinance and other non-bank financial services sectors. Separately, the regulator said it may allow companies seeking to strengthen their capital base to temporarily exceed Indonesia's 85 percent foreign ownership limit, provided they adjust their ownership structure to comply with the cap within three years of reporting the ownership change to OJK.Statement follows (in Indonesian)...
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