Includes special features of this country’s banking system and rules/laws that might impact U.S. business.

As of March 2018, Indonesia had 115 commercial banks and 1,630 rural banks.  The largest four banks hold over 45 percent of bank assets.  As ranked by assets, the following are the four largest state-owned banks:  Bank Mandiri, Bank Rakyat Indonesia, Bank Negara Indonesia, and BTPN.  The Financial Services  Authority  (“Otoritas  Jasa  Keuangan”  or OJK) regulates key aspects of the banking and financial system, including bank regulation and supervision, whereas Bank Indonesia (BI), the Central Bank of Indonesia, an independent state institution, regulates payment systems and conducts foreign exchange supervision.

Indonesia is encouraging the development of Islamic banking and seeks to increase its share of total banking assets to more than five percent.  As of February 2018, Islamic banking institutions in Indonesia held 3.93 percent of total banking system assets.  The Indonesian Islamic banking sector has 13 full-service Islamic banks, 21 banks with Islamic finance units, and 167 Islamic rural banks.  The Deposit Insurance Corp. (LPS) guarantees bank deposits up to IDR 2 billion (about US$150,000).  Only those accounts carrying interest rates equal to or below LPS maximum guaranteed reference rates are deemed eligible for LPS deposit guarantees.  Those rates are depend on prevailing benchmark rates.

The Indonesian Export Financing Agency (LPEI), which operates under the name of Indonesia Ex-Im Bank, provides competitive export financing and advisory and other exported related services.  The export credit agency’s goal is to help promote access to worldwide markets for Indonesia’s export-related commodities, support Indonesia’s international trade, and improve Indonesian exporters’ competitiveness in global markets.

Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise to help U.S. companies sell their products and services worldwide. Locate the U.S. Commercial Service trade specialist in the U.S. nearest you by visiting http://export.gov/usoffices.