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CHALLENGE

1. The need to increase awareness related to green finance both in banking and other sectors.

2. Green finance ecosystem which is still in the early stages of planning Regulations, frameworks and standards related to green

3. products that are still being developed

4. Efforts and commitments are needed on a national scale in developing Green Financing

5. There are additional costs (tangible and intangible) that must be invested for the implementation of ESG in the company.

6. Development of effective incentives and according to the needs of actors in the green sector in addition to the existing incentives

GOVERNMENT AND REGULATOR

 Provide guidelines and incentives for financial sector actors and their ecosystems to encourage supply and demand for Green Financing

 Develop awareness programs to increase awareness of actors in the real sector related to Green Financing initiatives

FINANCIAL INSTITUTIONS

Develop and improve capabilities and capacities to be able to develop products and offerings related to instruments that lead to green and sustainable concepts

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Initiative

• Develop product sustainability and service offerings

• Build sustainable finance

• Identify potential partnerships

Best Practices

HSBC and Walmart launched a sustainable supply chain finance program as part of the Gigaton Walmart project. Suppliers who show progress in terms of sustainability will be eligible to get a special financing program from HSBC

Initiative

• Determine climate ambition • Measuring emissions and setting targets per sector in the portfolio

Best Practices

ING launched the second Terra Progress Report in 2020 which specifically describes progress and targets in climate alignment for 9 main sectors that have an impact on climate change.

Initiative

• Stress Testing against various climate scenarios

• Integrating climate into the Banking Process (eg Credit Scoring)

Best Practices

A bank in Italy carries out climate stress testing modeling for various companies, then analyzes climate readiness according to the direction of the European Central Bank, and makes stress testing in credit risk appetite

Initiative

Design parameters and monitor performance against climate-related targets

Best Practices

Standard Chartered CEO becomes a leader in the Taskforce on Scaling Voluntary Carbon Markets consisting of member banks including BoA, Goldman Sachs and Macquarie

Initiative

• Designing the Sustainability-Function in the organization

• Develop enablers such as Climate data and Architecture

Best Practices

Societe Generale established a centralized ESG Function within the organization, consisting of various teams including wholesale sustainable finance, climate risk, and communications and investor relations

|•SOURCE•| Articles :BANKING | Image :FORBES |

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Product RETAIL

Credit with interest lower than market average, for financing:

- Environmentally friendly house (must have certification from the relevant institution)

- Electric based vehicles

- Solar Panels

- Other energy-saving products

Micro Credit

Micro-loan products to individuals and Small and Medium Enterprises to finance environmental projects, such as small-scale solar panel installations

WHOLESALE Green Deposit

• Referring to the Green Deposit Framework prepared by the Bank and verified by independent reviewers.

• Funds deposited on this product are allocated to finance environmental projects

Project Finance

• Refer to the Green Loan Principles

• Several foreign banks have divisions or teams dedicated to managing financing schemes for large-scale New and Renewable Energy (EBT) projects.

Green Trade Finance

• Financing facilities related to trade finance instruments (such as L/C) with underlying projects assessed based on certain guidelines.

• Focus on several sectors such as renewable energy, clean transport, waste management, and water management.

|•SOURCE•| Articles :BANKING | Image :GBG INDONESIA |

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European Union

Ratify The Taxonomy Regulation (TR) as the legal basis for EU Taxonomy.

The regulation stipulates the mitigation/adaptation sector, which includes: agriculture (forestry and fisheries), manufacturing, electricity (gas and geothermal), water, waste management, transportation, IT, and construction. A total of EUR 1 Trillion will be invested for green transformation in 27 EU member states

China

In November 2021, the People's Bank of China (PBoC) launched a loan interest reduction facility for industries that implement carbon emission reductions. 2 This program is targeted to accommodate 60% of total loans from financial institutions for industries that can reduce carbon emissions for a year at a rate of 1.75%.

Indonesia

The Financial Services Authority issued POJK No. 51/2017 regarding the Implementation of Sustainable Finance for Financial Services Institutions, Issuers, and Public Companies. 3 OJK is also actively involved in the formulation of the ASEAN Taxonomy document with other ASEAN countries in the Asean Taxonomy Board forum related to Sustainable Finance. In January 2022, OJK together with relevant ministries launched the Indonesian Green Taxonomy Document 1.0 as a guideline for policy making to provide incentives in the green economy.

|•SOURCE•| Articles :BANKING | Image :HARTENERGY |

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1. Strengthening the digitization of transactions led by Bank Indonesia

a. Launching QRIS (Quick Response Code Indonesian Standard) in 2019

b. Launching the Indonesian Payment System Blueprint (BSPI) by 2025

c. Launching the Open API National Payment Standard or famous being called as “Standar Nasional Open API Pembayaran (SNAP)” in order to create a healthy, competitive, and innovative payment system industry

2. Establishment of Percepatan dan Perluasan Digitalisasi Daerah (P2DD) in 2021

3. Indonesia Digital RoadMap 2021 - 2024 by Kominfo for Infrastructure acceleration to expand Internet access, i.e Palapa Ring.

4. Internet expanding and implementing in all the villages in Indonesia by Kominfo

|•SOURCE•| Articles :BANKING | Image :G 20 |

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In those POJK, Digital Bank was started to be mentioned besides the “Hybrid” Bank.

HYBRID BANK

is the amalgamation of digital and inhouse services to create a customer-centric banking ecosystem that allows clients to access services no matter which method they choose to use, including Branches.

Digital banking

is the digitization of every level, from front- to back-end, of banking. This means that digital banks rely on artificial intelligence to automate back-end operations such as administrative tasks and data processing

Highlight - POJK 12 & 13/2021

1. Regulate more specific regarding the transformation of Bank to be a Digital one - as part of Indonesia Banking Architecture

2. Governance over Bank’s branches

3. Governance over capital of the Bank

4. Simplify the approval process incl. acceleration Product’s licensing process

5. Re-definition of Bank based on Core Capital (from BUKU to KBMI)

|•SOURCE•| Articles :BANKING | Image :BETA NEWS |

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Vibrant Technology Start-up Scene

• Indonesia’s digital business has formed a wide

ecosystem that incorporates e-commerce, travel, on-demand services, payment systems and Fintech platforms, etc.

• Online platforms become more sophisticated in leveraging technologies to provide services online.

• Digital economy in 2020 at $44bn, representing 4% of Indonesian GDP, was generated by thousands tech start-ups.

Trend of Embedded Finance

• Embedded banking products allows business to expand product offerings and improve user engagement and user experience.

• Non-financial firms increasingly offering financial products directly to their customers within their own apps and services via open APIs and partnerships

Battle for Consumer Relationship

• As competition continues to intensify surrounding ownership of customer relationship, online platforms are keen to find ways to retain customers.

• Super apps tend to provide immense services by their own, leaving other online platforms with small rooms to keep growing user base and maintaining it.

• Open bank, focuses more on enabling partners rather than interact with end customers, can help MSME build a more resilient business.

Growing Use of Data

• Most online platforms have cloud services to save data for business analytics. However, the usage of data is not as sophisticated as wellestablished tech firms.

• Through open banking partnership, third party apps will have access to banking data and bank will have more transactional data. Integration of data from both sides generates wiser and agile decision making.

|•SOURCE•| Articles :BANKING | Image :UNCTAD |

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CYBER SECURITY MANAGEMENT

Description and guidance for banks in managing cyber security risk

in the form of cyber security risk management aspects that have been adapted to the risk management framework for commercial banks.

CYBER SECURITY EXERCISE

Implementation of measurable testing of bank resilience and security systems to ensure the adequacy of bank defense in the face of cyber threats and attacks

CYBER SECURITY REPORTING

reporting framework related to cyber security in the form of cyber incident reports and reports on the implementation of cyber risk management in a complete, accurate, current and complete manner.

The Consultative Paper contains the minimum standards that must be met by the Bank in implementing cyber security risk management.

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Consumers cruise into a new way of life

Indonesia has had 21 million new digital consumers since the start of the pandemic (until Q2 2021). 72% are from non-metro/sub-urban areas

Digital merchants take off

98% of digital merchants have accepted digital payments and 59% of digital merchants have started using digital financing. 69% of digital merchants will increase their digital marketing.

→ Digitizing trusted increase engagement with consumers

Resilience gives way to resurgence

Indonesia's Gross Merchandise Value (GMV) is estimated to reach US$70 billion in 2021, up 49% (yoy). By 2025, this value is estimated to have doubled to reach 146 billion US dollars. Indonesia will be the most dynamic digital market

Funding on Track to Reach New Heights

Deal activity rebounds in the first half of 2021, making Indonesia the most desirable digital investment destination (beyond Singapore) The Indonesia Stock Exchange leads with notable listings of regional tech giants.

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IDR 4,531 trillion Indonesia's Digital Economy is projected

to grow 8 times from IDR 632 trillion to IDR 4,531 trillion in 2030

IDR 1,900 trillion The e-Commerce sector will dominate Indonesia's digital economy by IDR 1,900 trillion (34% ) in 2030

IDR 24,000 trillion Indonesia's Gross Domestic Product (GDP) will grow from IDR 15,400 trillion to IDR 24,000 trillion in 2030

13.4 million merchants

Digital payment transactions through QRIS throughout Indonesia, with 95% being MSMEs by 2021

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• Data cannot be accessed by unauthorized parties

• Need to define what data may be accessed by whom (policy/policy)

• Personal data? Customer data? Health data?

• Attack

• Password cracking, bypassing access restrictions

• Social engineering, cheats to get credential

• Unencrypted data, sniffing, snooping data (shouldering)

• Protection

• Encryption (turning data so it looks like trash), https

• Restrict access, access control lists, segmentation

• Clear Standard Operating Procedures

|•SOURCE•| Articles :BANKING | Image : HEYLAWEDU |

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Singapore-based artificial intelligence (AI) document processing platform, 6Estates, pocketed US$6.2 million (approximately IDR88.8 billion) in a Series B+ funding round led by the Sinar Mas Group.

Farquhar Vent and Enterprise Singapore also participated. 6Estates will use this investment to enhance Intelligent Document Processing (IDP) solutions in various industries, from banking and finance, trading, container, logistics, to insurance. The capital injection is also used for the development of Multilingual Natural Language Processing (NLP) technology, Knowledge Graph (KG), to Machine Reading Comprehension (MRC). The services of 6Estates enable efficient business productivity through the automation of document processing operations. In the financial sector, 6Estates can help financial institutions restructure data, so that it can be used as a trading reference or credit rating. In this funding, 6Estates is also collaborating with Sinar Mas to provide financial services in Southeast Asia such as risk scoring, fraud prevention, consumer analysis, and cross-selling capabilities.

|•SOURCE•| Articles :TECH IN ASIA | Image :CNBC |

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Sinar Mas Land and GrandLucky collaborate to build a premium superstore on an area of almost 1 hectare in BSD City which is targeted to operate in 2023.

To note, a memorandum of cooperation agreement has been signed for the development of GrandLucky in BSD City. BSD City Sinar Mas Land Commercial CEO Anna Budiman said the construction of the GrandLucky premium superstore will begin this year, and the plan is to start operating in 2023. This collaboration is one of Sinar Mas Land's efforts to provide a variety of choices to the community to meet their daily needs. day. “The large number of premium residential areas in BSD City triggers the need for high-quality food and products. This encourages Sinar Mas Land to partner with GrandLucky, who has a good reputation in providing quality products,” President Director of PT Mitra Shopping Anda, Rudy Wirawan, welcomed the collaboration between his side and Sinar Mas Land.

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Restrictions on mobility were again applied to large urban areas following the increase in cases of transmission of the Omicron type of corona virus.

The government again asked the public not to panic, but to encourage the acceleration of vaccination, especially for the elderly. "We currently convey the assessment level for the Jabodetabek agglomeration (Jakarta, Bogor, Depok, Tangerang, Bekasi), DI Yogyakarta, Bali, Greater Bandung, which will be level three," said Coordinating Minister for Maritime Affairs and Investment Luhut Pandjaitan after attending the general meeting. limited meeting discussing the implementation of restrictions on community activities (PPKM), the meeting was chaired by President Joko Widodo and Vice President Ma'ruf Amin virtually. Luhut explained that the increase in the PPKM rate in the agglomeration area was not due to the high daily addition of new cases in this region. However, this is also due to the low number of close contact tracing of Covid-19 patients. Minister of Health Budi Gunadi Sadikin in a virtual press statement said that currently there are three provinces whose daily additions of cases exceed the peak of the Delta wave, in the middle of last year. The three are DKI Jakarta, Banten, and Bali

|•SOURCE•| Articles :KOMPAS | Image :DETIK |

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The government and the Financial Services Authority (OJK) need to immediately establish a Policy Holder Guarantee Institution (LPPP) as an effort to encourage and increase public interest in using insurance services.

LPPP can also restore the image of insurance companies, considering that recently there have been more and more problems that have occurred in a number of companies,” explained the Indonesian Insurance Council Trustee (DAI) Kornelius Simanjuntak, last weekend. According to him, if referring to Law (UU) Number 40 of 2014 concerning Insurance, the institution must already be established because the law in question mandates that the institution must exist no later than three years after the insurance law is issued. He also called for the creation of healthier insurance industry governance in the country, considering that recently there have been many complaints related to unit-linked products and cases of default. Therefore, Kornelius continued, in order to create healthier governance in this industry, collaboration between insurance companies and insurance brokers needs to be encouraged.

|•SOURCE•| Articles :INVESTOR | Image :SINDO |

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In order to improve performance at the end of the year, Bank BJB Syariah along with four other banks distributed syndicated financing worth Rp 300 billion to PT Oki Pulp & Paper Mills.

On this occasion, Bank BJB Syariah was appointed as the mandated lead arranger and the members of this financing syndication were Bank Nagari, Bank Sulselbar, Bank Aceh and Bank Sumselbabel. The signing of the syndicated financing agreement was held at the Ritz Carlton Hotel, Jakarta. The signing was carried out by the Business Director of Bank BJB Syariah Koko Tjatur Rachmadi and several other bank directors. President Director of Bank BJB Syariah Indra Falatehan said, this syndicated financing was the beginning of a strategic step for Bank BJB Syariah to play a major role in strengthening collaboration between Islamic banks and expanding business reach. "The Covid-19 pandemic over the past 2 years has had a significant impact on various industrial sectors," said Indra.

|•SOURCE•| Articles :KONTAN | Image :TRIBUN |

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PT Pasar Dana Loans or Danamas has realized loans of more than Rp. 6.5 trillion until December 2021. Financial technology (fintech) lending companies will continue to expand by targeting micro, small and medium enterprises (MSMEs).

This year, Danamas targets loan disbursement to reach Rp 2.3 trillion, with a target of 10,000 MSME players. In order to facilitate distribution, in the near future, Danamas will introduce Android and iOS-based application products for fintech lending. Danamas CEO Joyce Andries said that the technological innovation would make it easier for business actors to conduct financial transactions. "Consumers can make transactions smoothly, safely, practically and effectively," said Joyce. Danamas is a subsidiary of PT Sinar Mas Multiartha Tbk (SMMA), part of the Sinar Mas group that focuses on financial services.

|•SOURCE•| Articles :KONTAN | Image :KONTAN |

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Sinar Mas Land, through one of its townships in Balikpapan, Grand City Balikpapan, has launched a landed house product called Cheville. This is the fifth residential cluster in Grand City Balikpapan after Forestville, Pineville, Hyland, and Hayfield.

The housing in the Cheville cluster carries a modern concept and dynamic life that blends with the feel of nature (green environment). Modern minimalist urban design by maximizing lighting and air circulation in every room. The landed house has also adapted the new normal standard by providing sanitation facilities in the form of a sink on the front porch of the house. With the trend of work from home and online schools, the residence also has additional space that can be used as a work and study space on the attic or under the roof. East Indonesia CEO Franky Najoan believes that this cluster will be in demand even in the midst of a pandemic because there are several future economic developments, such as the construction of the nation's new capital city in East Kalimantan. "The location of Grand City is right between the City of Balikpapan, which is already established as an energy-producing city with the potential capital city of a new country, so the business potential is very large. No wonder the previous four clusters were always sold out and well absorbed by the market. The opportunity to live in this location can now be enjoyed by consumers through the Cheville cluster. We offer starting from IDR 800 million with attractive promos including free down payment (DP), free provision fees, to free administration fees for consumers who choose how to pay for a mortgage. Furthermore, we also offer spectacular hard cash promos for consumers," said Franky.

|•SOURCE•| Articles :ANTARA | Image :SINARMAS LAND |

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Mutual funds are investment products that are increasingly affordable in line with the latest technological developments. The number of mutual fund investors has also grown significantly from year to year.

Data from the Indonesian Central Securities Depository (KSEI) shows that the number of single investor identification (SID) mutual funds reached 3.9 million by the end of June 2021. That number increased by 55% year to date. On the other hand, there are more and more mutual fund products circulating in the market as investment interest in mutual fund instruments grows rapidly from year to year. Based on data from the Financial Services Authority, currently there are at least 2,419 mutual fund products from 98 investment managers who are officially registered and sold through 71 mutual fund selling agents (APERD) in Indonesia. Mutual fund investment has also been fenced off with a number of strict regulations by the authorities. But in fact, a number of mutual fund cases still occur. Therefore, since last year the authorities have required MI to list its largest securities in the fund fact sheet so that investors do not buy 'investment in sacks', aka blind to the contents of the mutual fund portfolio. Apart from that, there are a number of other tools that can be used to evaluate mutual fund products. Chief Research and Business Development Officer of PT Bareksa Portal Investasi (Bareksa) Ni Putu Kurniasari said, before looking at returns or yields and statistical indicators of mutual fund performance, first choose a trusted investment manager (MI). According to him, it is important to check whether the MI is among the 15-20 investment managers with the largest funds under management. Also pay attention to the track record of reporting on the MI. Panin Asset Management Director Rudiyanto said that in choosing mutual fund products, it is necessary to emphasize that investors must diversify their assets. Do not put all their funds in one particular asset class, let alone aggressive ones such as stock asset classes.

|•SOURCE•| Articles :BISNIS | Image :MANDIRI |

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The economic downturn due to the Covid-19 pandemic has not hampered the growth of wealth for a handful of Indonesians. The number of residents who have assets above US $ 1 million or Rp. 14.47 billion increased last year. Based on the results of research by the Credit Suisse Research Institute, an international financial institution based in Zurich, Switzerland, the number of residents with a net worth of US$1 million or more was recorded at 171,740 people in 2020, an increase of 61.69 percent compared to 2019.

In 2019, the total population with a net worth of US $ 1 million or more recorded as many as 106,215 people. This number increased when compared to 2014 which was only 98,487 people. The number of Indonesians who are very rich or with a wealth of more than US$ 100 million (Rp 1.44 trillion) in 2020 is 417 people, an increase of 22.29 percent compared to 2019. Director of the Center of Economic and Law Studies, Bhima Yudhistira Adhinegara, said people who became rich and very rich during a pandemic are people who are able to manage the risk of asset declines. This ability makes them accumulate wealth even though the Indonesian economy is in a slump. In addition, many rich people have emerged from the commodity sector, which is well priced, from mining to plantations. A researcher from the Center of Reform on Economics Indonesia, Yusuf Rendy Manilet, said that the rich and super-rich have many choices in accumulating sources of wealth. This group can adapt to save its assets.

|•SOURCE•| Articles :TEMPO | Image :READY TO MANAGE |

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|• POLITICS •|Bank Mandiri and SUN Energy Sign MoU
|• BUSINESS •|Inspection Ensure Cooking Oil Supply

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