Indonesia: new regulation on bank secrecy not expected to disrupt status quo
22 May 2017

The government’s new regulation granting federal tax authorities greater access to individual financial account information will not disrupt status quo banking activities, an economist said on Wednesday (17/05).

“The implementation of this regulation in lieu of law isn’t expected to disrupt the banking sector, as most banks in OECD [Organisation for Economic Co-operation and Development] countries have implemented similar standards for information of customer accounts,” said Josua Pardede, a vice president and economist at Bank Permata.

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