{
    "success": true,
    "data": {
        "id": 1848595,
        "msgid": "ojk-denies-foreign-banks-are-pulling-funds-from-indonesia-1783525858",
        "date": "2026-07-08 20:00:29",
        "title": "OJK Denies Foreign Banks Are Pulling Funds From Indonesia",
        "author": " ",
        "source": "GALERT",
        "tags": "",
        "topic": "Finance",
        "summary": "Indonesia's Financial Services Authority (OJK) has dismissed reports that foreign banks are withdrawing funds due to policy concerns, clarifying that recent large transfers by Citigroup, Standard Chartered, and HSBC are routine profit repatriation. The regulator emphasised that such cross-border transfers are a normal investment practice, conducted under its supervision and in accordance with the country's free foreign exchange regime.",
        "content": "<p>OJK Denies Foreign Banks Are Pulling Funds From Indonesia<\/p>\n<p>Jakarta. Indonesia\u2019s Financial Services Authority (OJK) has rejected\nreports that foreign banks are withdrawing funds from the country due to\nconcerns over government policies, saying the transfers represent\nroutine profit repatriation rather than a loss of investor\nconfidence.<\/p>\n<p>The clarification follows a Bloomberg report published on June 29,\nwhich said units of Citigroup, Standard Chartered, and HSBC had\ntransferred around Rp 11.5 trillion (about $640 million) out of\nIndonesia over the past two years. Citing people familiar with the\nmatter, the report said the outflows were driven by concerns over the\ndirection of the Indonesian government\u2019s policies.<\/p>\n<p>Dian Ediana Rae, OJK\u2019s executive head of banking supervision,\ndismissed the claim, describing it as an exaggerated interpretation of a\nnormal investment practice.<\/p>\n<p>\u201cThat is an overstatement. It is simply not true,\u201d Dian told\nreporters at Indonesia\u2019s parliament complex on Wednesday.<\/p>\n<p>\u201cWhen investors earn profits from their investments in Indonesia, it\nis natural for them to transfer those profits back to their home\ncountries.\u201d<\/p>\n<p>He said foreign investors who commit significant capital to Indonesia\nare entitled to repatriate their earnings, adding that such transactions\nshould not be interpreted as capital flight.<\/p>\n<p>Dian said that Indonesia operates under a free foreign exchange\nregime established by the 1999 Foreign Exchange and Exchange Rate Law,\nwhich allows investors to move profits abroad in accordance with\nprevailing regulations.<\/p>\n<p>He also emphasized that cross-border fund transfers by banks remain\nsubject to regulatory oversight. The amount, timing, and mechanism of\nthe transfers are monitored and carried out under OJK\u2019s supervision and\napproval.<\/p>\n<p>\u201cEven the amount being transferred, the timing, and the stages of the\nprocess are regulated and carried out with our approval,\u201d Dian said.<\/p>\n<p>According to Dian, profit repatriation by foreign investors has long\nbeen a normal feature of Indonesia\u2019s investment landscape, including\nsince international banks began operating in the country decades\nago.<\/p>\n<p>\u201cThere is nothing unusual about it. This has been standard practice\nsince foreign banks started investing in Indonesia in the 1960s,\u201d he\nsaid.<\/p>\n<p>Tags: Keywords:<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/ojk-denies-foreign-banks-are-pulling-funds-from-indonesia-1783525858",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}