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On 24 September 2020, Statistics Indonesia (Badan Pusat
Statistik ─ “BPS“) issued BPS
Regulation No. 2 of 2020 on Indonesian Normal Enterprise
Classifications (Klasifikasi Baku Lapangan Usaha Indonesia
─ “KBLI“), which is called the
2020 KBLI. The 2020 KBLI got here into pressure on its issuance date and
revoked BPS Regulation No. 95 of 2015 on the KBLIs, as amended by
BPS Regulation No. 19 of 2017, which is called the 2017 KBLI. The
2020 KBLI introduces greater than 200 new 5-digit KBLI numbers to maintain
up with the speedy improvement of recent sorts and divisions of
companies in Indonesia. Included among the many new KBLI numbers, the
2020 KBLI introduces the long-awaited KBLI numbers particularly to
accommodate fintech associated enterprise
actions.
The New KBLI Numbers in Fintech
Earlier than the issuance of the 2020 KBLI, there was just one KBLI
quantity that particularly referred fintech in its description ie.
KBLI No. 63122, an internet portal for business functions in keeping with
which included on this KBLI are web pages/portals and digital
platforms for business functions (revenue), that are purposes
used to facilitate or mediate digital transaction providers, such
as marketplaces, digital promoting, fintech and on-line
on-demand providers.
In follow, this (outdated) KBLI quantity had been used for a quantity
of various fintech actions. It was not unusual for fintech
gamers to additionally use different KBLI numbers which they imagine are the
applicable KBLI quantity for his or her enterprise actions in Indonesia.
Not solely that, the absence of particular KBLI numbers for various
fintech actions have additionally resulted within the reference to various
KBLI numbers within the fintech firms’ articles of affiliation
or Enterprise Identification Quantity (Nomor Induk Berusaha
─ “NIB“). Resulting from these causes and
the speedy improvement of fintech actions in Indonesia, one KBLI
quantity to cowl every kind of fintech actions was now not
applicable.
Within the 2020 KBLI, KBLI No. 63122 explicitly states that this
KBLI now not consists of fintech as a result of now a number of new KBLI
numbers cowl fintech actions in Indonesia. The next are
the brand new KBLI numbers masking fintech actions:
| KBLI Quantity | KBLI Title | Description of KBLI Quantity |
| Peer to Peer
(“P2P”) Lending Fintech Actions |
||
| 64951 | Standard Data Know-how-Primarily based Lending
Companies (P2P Lending Fintech) |
This group consists of standard fintech primarily based P2P
lending providers, with enterprise actions together with the availability, administration and operation of monetary providers to deliver lenders along with mortgage recipients in an effort to enter right into a lending and borrowing agreements in Indonesian Rupiah foreign money, immediately via an digital system utilizing the web community. |
| 64952 | Sharia Data Know-how-Primarily based Lending
Companies (P2P Lending Fintech) |
This group consists of fintech primarily based P2P lending
providers, that are organized fully primarily based on sharia rules, with enterprise actions together with the availability, administration and operation of monetary providers to deliver collectively lenders and mortgage recipients in an effort to enter into financing agreements (akad pembiayaan) in Indonesian Rupiah foreign money, immediately via an digital system utilizing the web community. |
| 64953 | Sharia Enterprise Items of Data
Know-how-Primarily based Lending Companies (P2P Lending Fintech) |
This group consists of the actions of labor models
from the top workplace of standard fintech primarily based P2P lending providers, which offer fintech primarily based P2P lending providers primarily based on sharia rules and/or features as the principle workplace of the workplace engaged in enterprise actions primarily based on sharia rules. |
| Cost Companies
Associated Fintech Actions |
||
| 66411 | Cost Service Suppliers (Penyedia Jasa
Pembayaran ─ “PJP”) |
This group consists of actions associated to the
provision of fee providers to end-users of Cost System providers on the entrance finish, masking actions together with, amongst others: displaying details about sources of funds; initiating transactions/buying (digital wallets, acquirers and fee gateways); issuing fee devices/accounts; remittance/fund switch providers. |
| 66412 | Cost System Infrastructure Suppliers
(Penyelenggara Infrastruktur Sistem Pembayaran ─ “PIP”) |
This group consists of actions associated to the
operation of fee system infrastructure which is primarily used to facilitate PJP transactions, each for the PJP’s personal pursuits and the pursuits of the end-user, masking actions which embrace, amongst others, performing features as a principal, switching, clearing, and end-settlement. |
| 66413 | Suppliers of Cost System Assist | This group consists of actions associated to the
actions that assist PJP actions and/or PIP in processing fee transactions. Examples are card printing, fee personalization, offering an information middle and/or catastrophe restoration middle, offering a terminal, offering safety features for fee devices and/or fee transactions, offering expertise contactless transaction assist, offering knowledge routing to assist fee transaction processing. |
The above new KBLI numbers in fintech are a breath of contemporary air
for fintech gamers and potential traders in Indonesia, as there
is now extra certainty concerning the KBLI numbers for various
fintech actions in Indonesia.
How the New KBLI Numbers Will Have an effect on Current Fintech Firms
in Indonesia
Though by legislation, the 2020 KBLI got here into pressure on its issuance
date, in follow, thus far the On-line Single Submission
(“OSS“) system nonetheless makes use of the 2017 KBLI.
Due to this fact, till the OSS System has began utilizing the KBLI 2020,
the brand new KBLI numbers technically don’t instantly affect fintech
operations.
As you might remember, on 11 October 2018 The Ministry of Regulation and
Human Rights (“MOLHR“) and the
Coordinating Ministry for Financial Affairs
(“CMEA“) issued a joint announcement
saying that each one present firms at the moment needed to modify
their traces of enterprise to the 2017 KBLI inside 1 yr of the date
of the announcement. Strictly primarily based on the announcement, if a
firm didn’t adjust to the duty to regulate to the 2017
KBLI, the OSS company could freeze the corporate’s NIB, doubtlessly
hampering the corporate’s enterprise actions. Given this, it’s
potential that sooner or later, when the OSS system has began utilizing
the KBLI 2020, the Authorities could challenge an analogous requirement. When
it occurs, all present fintech firms in Indonesia ought to be
prepared to regulate their KBLI numbers.
Tips on how to Regulate to the New KBLI Numbers
With a view to modify to the brand new KBLI numbers, a fintech firm
should convene a Normal Assembly of Shareholders whereby the agenda
for which is to amend the corporate’s functions and aims
said in its Articles of Affiliation
(“AOA“) in order that the wordings of the
objective and goal are in keeping with the descriptions set out in
the related KBLI quantity. As soon as the AOA have been amended, then
via a notary public, the corporate should submit the amendments to
the AOA to the MOLHR via the MOLHR’s on-line system. As soon as
the amendments to the AOA has obtained approval from the MOLHR, the
OSS system will robotically modify the corporate’s KBLI quantity
within the firm’s NIB to the brand new one; effecting the
adjustment.
The content material of this text is meant to offer a common
information to the subject material. Specialist recommendation ought to be sought
about your particular circumstances.
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