VIVAnews - Dealing with the liberalization of financial and banking sectors in 2015, the Indonesian government has prepared an array of policies.
Finance Minister Sri Mulyani Indrawati said in the parliamentary house that foreign banking and legal entities are allowed to form or buy a bank that has teamed up with local partners.
"The acquisition over local banks through share purchase in the capital market is allowed to 51 percent of listed shares," said the minister on Wednesday, Jan 20.
In addition, in the banking sector, foreign and joint-venture banks are also allowed to set up branch offices in several capitals of Indonesian provinces such as Jakarta, Surabaya, Semarang, Bandung, Medan, Denpasar, Batam, Padang, Manado, Ambon, and others.
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Translated by: Bonardo Maulana Wahono
