KAKI and Center for International Private Enterprise Lead Roundtable on Beneficial Ownership Transparency: Enhancing Beneficial Ownership Transparency in Indonesia: Private Sector Perspectives
Jakarta, September 25, 2024 — Koalisi Anti Korupsi Indonesia (KAKI) and the Center for International Private Enterprise (CIPE) hosted a pivotal roundtable gathered private sector, regulators, and business associations to discuss the country’s evolving beneficial ownership regulations and where they are now.
With Indonesia making strides in establishing BO regulations, the private sector still faces challenges in alignment. The roundtable provided a platform for key stakeholders to examine these challenges, explore opportunities, and foster collaboration. “This is about more than compliance—it’s about building a transparent business environment that leads to trust and stronger governance,” said KAKI Chairman Erry R. Hardjapamekas in his opening remarks.
Speakers from the UNODC Indonesia, Ministry of Law and Human Rights, the Corruption Eradication Commission (KPK), and the Financial Services Authority (OJK) shared updates on the progress and challenges of BO compliance. Private sector representatives voiced concerns about the registration and verification process but recognized the long-term benefits of transparency in mitigating risks and fostering trust.
Participants expressed optimism about the future of BOT implementation in Indonesia. The discussions highlighted practical steps to improve compliance while underscoring the crucial role of private sector involvement in shaping BOT policies. This collaboration is key to ensuring that regulations are effective, targeted, and aligned with the needs of businesses.
The BOT roundtable provided a platform for constructive dialogue and opened the door for future initiatives that will continue to drive transparency and good governance practices in Indonesia. The project between KAKI and CIPE will play a key role in advancing these efforts, particularly within family-owned businesses, which form a significant part of Indonesia’s economic landscape.
Johannes O. Tonn Frank Brown Wyatt Frank
Indonesian Institute for Corporate Directorship – IICD, Family Business Network (FBN) Asia, Asosiasi Emiten Indonesia (AEI)
