Suhardi Somomoeljono & Associates (“the Firm”) has successfully performed full legal due diligence (“LDD”) for one of the financial technology company in Indonesia (“Client”) for obtaining electronic money issuer license. In addition, electronic money business is such a complex and crucial business for Indonesian monetary. Consequently, Bank of Indonesia as an authorized institution obligate for the company that has an intent to obtain electronic money issuer license to perform LDD before submitting to Bank of Indonesia and the LDD have to be done by professional and independent law firm, it is mandatory due to Article 14 (3) Bank of Indonesia Regulation 20/6/PBI/2018 on Electronic Money.
Therefore, the output documents of this matter are legal due diligence report, legal opinion, executive summary and representation & warranties for Bank of Indonesia. Currently, Client has applied to Bank of Indonesia and biding for the assessment results.
The LDD preparation led by partner Dianyndra K. Hardy assisted by associate Jurisdito Hutomo Hardy and associate Faris Muhammad Rabbani. Since the Firm has experiences in a financial technology sector, our lawyers have decent understanding with vary financial technology matters.
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