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Indonesia: Companies to reassess the impact of spinning- off Syariah windows following recent regulatory updates
By Brian Colgan and Farzana Ismail
30 June 2020
In Indonesia, insurance compliant with Syariah principles can be sold through either a Syariah business unit or “window” of a conventional insurance company or, less commonly, through a standalone Syariah insurance company. This e-Alert discusses how the draft Otoritas Jasa Keuangan regulation to amend Regulation No. 67/POJK.05/2016 and Government Regulation PP No. 3/2020 provide some clarity on previous areas of uncertainty, together with their potential impact on insurers’ decision to spin off their Syariah windows or exit the Syariah market.
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Indonesia: Companies to reassess the impact of spinning- off Syariah windows following recent regulatory updates
This e-Alert discusses how the draft Otoritas Jasa Keuangan regulation to amend Regulation No. 67/POJK.05/2016 and Government Regulation PP No. 3/2020 provide some clarity on previous areas of uncertainty, together with their potential impact on insurers’ decision to spin off their Syariah windows or exit the Syariah market.
Brian Colgan, Farzana Ismail