JAKARTA • Indonesian online travel company Tiket.com is exploring going public through a merger with a special purpose acquisition company (Spac) as it seeks to expand its business, according to people with knowledge of the matter.. Read more at straitstimes.com.
A number of large Indonesian banks are closing their conventional banking operations in the country’s strictly Muslim province of Aceh, The Jakarta Post reported. The province has introduced a regulation that all financial institutions have to comply with Islamic law, effective from the beginning of next year, which led to a reconsideration by the banks on doing business there, the report said. The regulations mean that all banks in Aceh are only allowed to offer Shariah banking services, which exclude charging interest on loans, while all banking services are based on participation contracts in one form or another and done.
World’s Best Banks 2021: Asia-Pacific
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May 04, 2021
For banks in the Asia-Pacific region (APAC), the onslaught of Covid-19 can perhaps best be characterized as an unprecedented externality that has served to expose in stark relief a twin-pronged dynamic of transformation and consolidation that had been in place before the pandemic emerged.
That dynamic gained momentum thanks to brutal economic contraction, shrinking margins, savage competition and crimped return on equity (ROE). It represents a swift acceleration of forces that had been steadily building prior to the pandemic, characterized by rapidly shifting customer expectations and behavior and hammered home at great speed in the face of lockdowns, social distancing and work insecurity.
Brankas, 2C2P bring Open Banking to Indonesia Tuesday 27 April 2021 11:53 CET | News
Open Finance tech provider Brankas has partnered with payments provider 2C2P to introduce a modern Open Banking solution to Indonesia, according to the official press release.
Through Brankas API integration, customers of 2C2P s merchants will be directly connected to major Indonesia-based banks including Bank Central Asia (BCA), Bank Mandiri, Bank Negara Indonesia, and Bank Rakyat Indonesia. Built on the principles of Open Banking, the partnership allows Indonesia businesses to offer customers a direct debit option during the checkout process to make payments from their personal banking accounts with the afore-mentioned banks immediately.
Indonesia permits private COVID-19 vaccination scheme reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.