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Banking Mediation by Bank Indonesia: A Practical Guide

Learn about the mediation process in banking disputes involving Bank Indonesia as mediator. Understand legal basics, steps, requirements, and the importance of reaching a voluntary agreement with relevant references.

randall-hopkins
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Banking Mediation by Bank Indonesia: A Practical Guide

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  1. MEDIATIONanisah 20090610118

  2. Outline : • Introduction • Legal basic • The steps of mediation • The requirements • Conclusion • References

  3. Introduction • Mediation is a process of negotiation among the parties with the involvement by Bank Indonesia as a mediator, to assist the disputing of the parties to reach a settlement in the form of voluntary agreement to some or all issues in the dispute.

  4. Legal Basic • Section 55 Act No 21 year 2008 about Syariah Banking. • Bank Indonesia Regulation No.10/1/PBI/2008 of the Banking Mediation,No.8/14/DPNP. • Circular Letter dated 1 June 2006 concerning Banking Mediation.

  5. There are four steps in the banking mediation : • Get the information of mediation. • Apply for mediation. • Follow the process of mediation. • Execute an agreement deed.

  6. The Requirements : • Submitted in written along with adequately related the documents. • Proven settlement efforts with the Bank • No such request is submitted to another arbitration or court/mediation institution. • Categorized under the Civil Law worth at the maximum of Rp500,000,000. • Request submission does not exceeds 60 work days from the delivery date of the Bank’s response letter to the customer.

  7. Conclusion • Mediation is a process of negotiation among the parties with the involvement by Bank Indonesia as a mediator. • The implementation of the mediation function by the Bank Indonesia is bringing the parties to review the main issues in dispute to reach an agreement without the recommendation or decision of the Bank Indonesia

  8. References • Musjtari, DndanFitriyantiFadia, 2010, HukumPerbankanSyariahdan Takaful, Yogyakarta, Media Hukum FH UMY. • www.bi.go.id • Act No 21 year 2008 about Syariah Banking

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