Financial Industry to Be Integrated into Online Single Submission Licensing System
JAKARTA — Deputy Minister of Investment and Downstreaming/Deputy Head of the Investment Coordinating Board (BKPM) Todotua Pasaribu has stated that the financial industry will soon be integrated into the electronic integrated business licensing system known as Online Single Submission (OSS).
Todotua noted that there are approximately 1,700 types of licences involving 17 ministries and institutions within the OSS system, whilst several other institutions have expressed interest in joining.
"Recently, several more institutions will hopefully join the OSS system in the near future. That includes the financial industry," said Todotua in Jakarta on Thursday (3/7).
He revealed that his office had held meetings with the Financial Services Authority (OJK) several weeks ago to consolidate financial industry matters with existing OSS regulations.
Todotua further explained that investment realisation data in the financial sector — including insurance, banking and non-banking — had not yet been incorporated into the OSS system. He also identified issues within the banking sector related to Business Identification Numbers (NIB), making it crucial for the financial industry to be integrated into the OSS promptly.
"The response from the OJK Chairman was very positive, and hopefully our ministry will follow up. We have already reached an agreement with the financial industry and OJK to bring the financial industry into our OSS," he said.
According to Todotua, the involvement of ministries and institutions is essential to achieving the target of 8 per cent economic growth.
The Ministry of Investment and Downstreaming is currently drafting amendments to BKPM Regulations Nos. 3, 4 and 5 of 2021 to improve the business and investment climate in the country. The refinement of these three regulations will serve as the foundation for risk-based corporate licensing reform through the simplification of procedures, strengthening of the OSS system and enhancement of legal certainty.
The amendments to BKPM Regulations 3/4/5 of 2021 are a follow-up to Government Regulation (PP) No. 28 of 2025 on the Implementation of Risk-Based Business Licensing. The three regulations concern the OSS System, Licensing Services and Supervision, which are subsequently integrated through PP 28/2025.
Todotua noted that there are approximately 1,700 types of licences involving 17 ministries and institutions within the OSS system, whilst several other institutions have expressed interest in joining.
"Recently, several more institutions will hopefully join the OSS system in the near future. That includes the financial industry," said Todotua in Jakarta on Thursday (3/7).
He revealed that his office had held meetings with the Financial Services Authority (OJK) several weeks ago to consolidate financial industry matters with existing OSS regulations.
Todotua further explained that investment realisation data in the financial sector — including insurance, banking and non-banking — had not yet been incorporated into the OSS system. He also identified issues within the banking sector related to Business Identification Numbers (NIB), making it crucial for the financial industry to be integrated into the OSS promptly.
"The response from the OJK Chairman was very positive, and hopefully our ministry will follow up. We have already reached an agreement with the financial industry and OJK to bring the financial industry into our OSS," he said.
According to Todotua, the involvement of ministries and institutions is essential to achieving the target of 8 per cent economic growth.
The Ministry of Investment and Downstreaming is currently drafting amendments to BKPM Regulations Nos. 3, 4 and 5 of 2021 to improve the business and investment climate in the country. The refinement of these three regulations will serve as the foundation for risk-based corporate licensing reform through the simplification of procedures, strengthening of the OSS system and enhancement of legal certainty.
The amendments to BKPM Regulations 3/4/5 of 2021 are a follow-up to Government Regulation (PP) No. 28 of 2025 on the Implementation of Risk-Based Business Licensing. The three regulations concern the OSS System, Licensing Services and Supervision, which are subsequently integrated through PP 28/2025.