OJK re-regulates Foreign Workers in the Banking Sector
Available Job Titles and Transfer of Knowledge regulated by OJK
On October 17, 2017, PNB Immigration Law Firm provided a new immigration column to the investment website indonesia-investments.com. In the column we discuss the new OJK regulation number 37/POJK.03/2017 on the Employment of Foreign Workers and Knowledge Transfer within the Banking Sector (New Regulation).
- Available Job Titles: The New Regulation regulates which job titles are available for foreign workers in banks. Certain job titles are only available for banks with (a certain percentage of) foreign investment. We have provided a detailed list of available job titles in the column.
- Transfer of Knowledge Requirement: For foreign workers banks need to implement a transfer of knowledge program as set out by OJK in the New Regulation.This requirement does not apply for foreign directors and commissioners, in line with the standards set by the Ministry of Manpower.
Readers can find the full version of the column on indonesia-investments.com.