JAKARTA (Yosefardi) – The Financial Services Authority (OJK) and Bank Indonesia schedule to sign bilateral agreement with Bank Negara Malaysia (BNM) today.
One of the agreement would be the implementation of reciprocal principle for banking business.
Currently the number of Indonesian banks operating in Malaysia is not balance compared to Malaysian banks operating in Indonesia.
OJK also mulls to sign bilateral agreement, mainly for the reciprocal principle issue, with other countries in the Southeast Asia region, including Singapore.
State owned PT Bank Rakyat Indonesia Tbk (BBRI) has obtained permit from Singapore government to open branch at Singapore.