Waiting for the President Regulation on Beneficial Ownership

The draft of the President Regulation (Perpres) on the Implementation of Principles of Recognizing the Beneficiaries of Corporations in the Framework of the Prevention and Eradication of Money Laundering and Criminal Acts of Terrorism, otherwise known as the draft of Perpres on Beneficial Ownership has been with the President since May 2017, but to this day the draft has not yet been signed. The public is wondering why the President is taking this much time. Recently the former Head of the Indonesian Financial Transaction Reports and Analysis Center (PPATK) one Yunus Husein publicly criticized the President for supposedly having a regulation phobia.

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