Act of the Republic of Indonesia Number 7 of 1992 Concerning Banking

This document presents amendments to the following articles of Indonesia's Act Number 7 of 1992, concerning banking:

• Article 1 several definitions including those of banking, commercial bank, and rural bank have been modified;
• Article 6 (letter k) regarding purchasing collaterals through auctions has been deleted;
• Article 6 (letter m) has been modified to include banking based on Syariah principles in accordance with the stipulations laid by Bank Indonesia;
• Article 7 (letter c) provisions of this articles regarding equity participation have been changed;
• Article 8 modifications have been brought in is article to include Syariah banking and financing practices.

Other articles that have been modified include:

• Article 11, concerning legal lending limits;
• Article 12(A), provisions relating to purchase of collateral have been added;
• Article 13, concerning Syariah principles;
• Article 16 on acceptance of public deposits;
• Articles 19, and 20 pertaining to bank branches;
• Articles 21, 22, 27 and 28 relating to legal and structural forms of banks, including ownership;
• Other articles relating to banking supervision, such as 29, 31, 33 and 37.