Regulations Across ASEAN

Covering Monetary Board, Kebersihan, Life Insurance, Hari Buruh, Surat Edaran. Updates cover stricter waste disposal enforcement, life insurance license changes, MSME digital finance, Monetary Board advisories, and Surat Edaran on bank reporting. Also features regional energy collaboration and compliance initiatives.

Show Notes

This episode covers critical regulatory developments across ASEAN in sectors including Monetary Board advisories, environmental cleanliness (Kebersihan), life insurance regulation, Hari Buruh-related updates, and Surat Edaran directives.

Jakarta’s Provincial Government is intensifying actions against illegal waste disposal, implementing a staged warning and sanction system culminating in public disclosure and license revocation. The roadmap aims to end open dumping by 2029, emphasizing waste reduction, sorting, and improved landfill management.

In finance, the Indonesia Financial Services Authority (OJK) revoked PT Great Eastern Life Indonesia’s sharia life insurance license while granting a new license to PT Sun Life Financial Syariah Indonesia. Additionally, PT Mahir Gadai Adhikari has received its business license with strict display requirements under POJK regulations.

OJK is also fostering MSME growth through digital financial innovations including asset tokenization and Rupiah stablecoins, supported via its Regulatory Sandbox. Meanwhile, the Monetary Board of the Philippines’ Bangko Sentral issues advisories against fraudulent solicitations misusing official names.

Lastly, the inaugural Australia–Singapore Ministerial Dialogue on Energy produced commitments to enhance energy security and low-carbon initiatives.

For more information, visit the Carver Agents website.

Articles mentioned:
  1. Pelaku Buang Sampah Ilegal Tak Lagi Ditoleransi, Pemprov DKI Siapkan Proses Hukum dan Pencabutan Izin
  2. Pemprov DKI Pacu Transformasi Pengelolaan Sampah, Open Dumping Ditargetkan Berakhir pada 2029
  3. Revocation of Business License PT Great Eastern Life Indonesia
  4. Surat Edaran LPS mengenai Format dan Tata Cara Penyusunan serta Penyampaian Laporan Perubahan Informasi Data Pokok Bank
  5. DLH DKI Denda Dua Penyedia Angkut Sampah hingga Rp10 Juta di Hutan Kota Penjaringan
  6. Joint Ministerial Statement on the Inaugural Australia–Singapore Ministerial Dialogue on Energy
  7. Siaran Pers: OJK Dorong Pengembangan Potensi UMKM Wilayah Timur Melalui Digitalisasi Keuangan
  8. Advisory on unauthorized solicitations using the name of MBM Diokno
  9. The Issuance of a Business License for Sharia Life Insurance to PT Sun Life Financial Syariah Indonesia
  10. PT Mahir Gadai Adhikari Business License

What is Regulations Across ASEAN?

Regulatory news, updates, and insights for countries in the ASEAN region presented by the Carver Agents team

Welcome to Carver's ASEAN Regulatory Updates for August 02, 2026.

In Indonesia, the Jakarta Provincial Government has announced stricter enforcement against illegal waste disposal. Waste transporters, companies, and area managers caught dumping or storing waste illegally will face administrative sanctions, public non-compliance announcements, and suspension or revocation of business licenses. The government will issue written warnings in stages—first for 14 days, then 7 days, and finally 3 days—before publicly disclosing non-compliant entities.

Further advancing waste management, Jakarta’s Provincial Government has introduced a formal Roadmap targeting the end of open dumping by 2029. The plan includes reducing waste generation, increasing waste sorting at source, expanding waste processing facility capacity within the city, and implementing controlled landfill systems at the Bantargebang Integrated Waste Processing Site.

In regulatory enforcement, the Jakarta Environment Agency has fined two waste transport service providers up to 10 million Indonesian Rupiah for illegal dumping and unauthorized sale of waste materials in the Penjaringan Urban Forest.

On the financial sector front, the Indonesia Financial Services Authority, known as OJK, revoked the business license of the sharia unit of PT Great Eastern Life Indonesia. This revocation prohibits the company from conducting life insurance business activities based on sharia principles. PT Great Eastern Life Indonesia must cease these activities and complete the portfolio settlement in accordance with prevailing laws and regulations.

Conversely, OJK has issued a new business license to PT Sun Life Financial Syariah Indonesia, effective July 22, 2026, authorizing it to conduct sharia life insurance business under license number KEP-57/D.05/2026. The company is required to apply sound business practices and comply with all applicable laws and regulations.

In addition, PT Mahir Gadai Adhikari received a business license effective July 16, 2026. Under the requirements of OJK Regulation POJK 39/2024, the company must clearly display its name and logo, business license number and date, OJK supervision statement, and operational days and hours at all its offices.

The Indonesia Deposit Insurance Corporation, or LPS, has issued a circular detailing the standardized format and procedures for banks to report changes in their core data information. Banks must adhere to these reporting requirements to support regulatory oversight and maintain financial system stability.

OJK is also promoting the development of micro, small, and medium enterprises, or MSMEs, in eastern Indonesia through financial digitalization. Innovations include tokenization of real-world assets such as gold, government bonds, and property ownership benefits, issuance of Rupiah stablecoins, and digital asset custody services. These initiatives, facilitated via OJK’s Regulatory Sandbox, aim to expand financing access, enhance financial literacy, and support regional economic growth.

In the Philippines, the Bangko Sentral ng Pilipinas, or BSP, issued an advisory clarifying that it and its officials do not solicit donations or conduct charitable fundraising. The advisory warns the public against fraudulent schemes misusing the name of Monetary Board member Benjamin E. Diokno. The BSP urges verification of any messages claiming involvement of BSP or its officials and requests reporting of suspicious solicitations through official channels.

Finally, in regional energy cooperation, the inaugural Australia–Singapore Ministerial Dialogue on Energy has resulted in a joint statement committing to enhance energy security, advance low-carbon fuel development, progress legally binding bilateral agreements on carbon capture and storage, and support transparent regulatory frameworks for cross-border electricity trade.

That wraps up today's regulatory updates. Visit carveragents.ai for more information.