The Management

Board of Directors

Omar S. Anwar

President Director

Omar serves as President Director of PT Aberdeen Standard Investments Indonesia (PT ASII). He joined PT ASII in March 2018.

Prior to joining with PT ASII, he held several other Board of Director level positions during his career, including Executive Chairman of Nomura Holdings [2014-2018], President Director of PT Trimegah Securities [2010-2012], Deputy President Director of Pertamina (Persero) [2009-2010], President Director of Rio Tinto Indonesia [2008-2009], Director of Consumer Finance and Senior Executive President of PT Bank Mandiri Tbk [2003-2008], Vice President of ABN AMRO Bank [1998-1999], Deputy Director of Bimantara Citra [1997-1998] and Vice President of Citibank [1996-1997].

Omar earned PhD in Strategic Management from University of Indonesia in 2017; Master of Business Administration, majoring in Finance from George Washington University, USA in 1982; and Bachelor of Science, majoring in Accounting from University of Maryland, USA in 1980.

Omar has obtained licenses to become a Broker Dealer Representative (WPPE) Number KEP-2460/PM.212.KPJ-WPPE/2016 and an Underwriter Representative (WPEE) Number KEP-19/PM/212/PJ-WPEE/2017. Both licenses were issued by Otoritas Jasa Keuangan.

Omar was declared passing Fit and Proper Test based on Otoritas Jasa Keuangan letter Number: S-373/PM.21/2018 dated 12 April 2018 concerning Approval of Change of the Board of Directors Composition.

Bharat S. Joshi

Director

Bharat Joshi is Director of PT Aberdeen Standard Investments Indonesia (PT ASII).

Bharat had been with Aberdeen Kuala Lumpur, Malaysia, for 7 (seven) years as equity manager before he was relocated to Jakarta in November 2014. Bharat is responsible for supervising the investment process including reviewing and managing local equity portfolio.

Before joining Aberdeen, Bharat worked as a junior analyst at Credit Suisse Malaysia. Bharat holds BSc (Hons) degree in Mathematics, Statistics and Economics, Actuarial Science Department, from the University of Warwick.

Bharat obtained his first license as an Investment Manager Representative (WMI) from Otoritas Jasa Keuangan, with an evident in OJK decision, License Number KEP-154/PM.211/WMI/2014.

Bharat was declared passing Fit and Proper Test based on Otoritas Jasa Keuangan letter Number: S-30/PM.21/2015 dated 30 January 2015 concerning Change of the Board of Directors Composition.

Tri Meryta

Director

Tri Meryta is Director of PT Aberdeen Standard Investments Indonesia (PT ASII).

Prior to joining with PT ASII, she was Head of Investment Operations then Head of Finance Control in PT Manulife Aset Manajemen Indonesia. She also had worked for PT Asuransi AIA Indonesia as Finance and Accounting Senior Manager and PT AJ Sewu New York Life.

Tri Meryta earned her Bachelor Degree in Financial Management from University of Indonesia.

She obtained her first license to become an Investment Manager Representative (WMI) as confirmed in Decision of Chairperson of BAPEPAM & LK No. KEP-119/BL/WMI/2012, and license to become Broker Dealer Representative (WPPE) as confirmed in Decision of Chairperson of BAPEPAM & LK No. KEP-490/BL/WPPE/2010.

Tri Meryta was declared passing fit and proper test based on Otoritas Jasa Keuangan letter Number: S-394/PM.21/2015 dated 3 November 2015 concerning Change of the Board of Directors Composition.

  • Omar S. Anwar

    President Director

    Omar serves as President Director of PT Aberdeen Standard Investments Indonesia (PT ASII). He joined PT ASII in March 2018.

    Prior to joining with PT ASII, he held several other Board of Director level positions during his career, including Executive Chairman of Nomura Holdings [2014-2018], President Director of PT Trimegah Securities [2010-2012], Deputy President Director of Pertamina (Persero) [2009-2010], President Director of Rio Tinto Indonesia [2008-2009], Director of Consumer Finance and Senior Executive President of PT Bank Mandiri Tbk [2003-2008], Vice President of ABN AMRO Bank [1998-1999], Deputy Director of Bimantara Citra [1997-1998] and Vice President of Citibank [1996-1997].

    Omar earned PhD in Strategic Management from University of Indonesia in 2017; Master of Business Administration, majoring in Finance from George Washington University, USA in 1982; and Bachelor of Science, majoring in Accounting from University of Maryland, USA in 1980.

    Omar has obtained licenses to become a Broker Dealer Representative (WPPE) Number KEP-2460/PM.212.KPJ-WPPE/2016 and an Underwriter Representative (WPEE) Number KEP-19/PM/212/PJ-WPEE/2017. Both licenses were issued by Otoritas Jasa Keuangan.

    Omar was declared passing Fit and Proper Test based on Otoritas Jasa Keuangan letter Number: S-373/PM.21/2018 dated 12 April 2018 concerning Approval of Change of the Board of Directors Composition.

  • Bharat S. Joshi

    Director

    Bharat Joshi is Director of PT Aberdeen Standard Investments Indonesia (PT ASII).

    Bharat had been with Aberdeen Kuala Lumpur, Malaysia, for 7 (seven) years as equity manager before he was relocated to Jakarta in November 2014. Bharat is responsible for supervising the investment process including reviewing and managing local equity portfolio.

    Before joining Aberdeen, Bharat worked as a junior analyst at Credit Suisse Malaysia. Bharat holds BSc (Hons) degree in Mathematics, Statistics and Economics, Actuarial Science Department, from the University of Warwick.

    Bharat obtained his first license as an Investment Manager Representative (WMI) from Otoritas Jasa Keuangan, with an evident in OJK decision, License Number KEP-154/PM.211/WMI/2014.

    Bharat was declared passing Fit and Proper Test based on Otoritas Jasa Keuangan letter Number: S-30/PM.21/2015 dated 30 January 2015 concerning Change of the Board of Directors Composition.

  • Tri Meryta

    Director

    Tri Meryta is Director of PT Aberdeen Standard Investments Indonesia (PT ASII).

    Prior to joining with PT ASII, she was Head of Investment Operations then Head of Finance Control in PT Manulife Aset Manajemen Indonesia. She also had worked for PT Asuransi AIA Indonesia as Finance and Accounting Senior Manager and PT AJ Sewu New York Life.

    Tri Meryta earned her Bachelor Degree in Financial Management from University of Indonesia.

    She obtained her first license to become an Investment Manager Representative (WMI) as confirmed in Decision of Chairperson of BAPEPAM & LK No. KEP-119/BL/WMI/2012, and license to become Broker Dealer Representative (WPPE) as confirmed in Decision of Chairperson of BAPEPAM & LK No. KEP-490/BL/WPPE/2010.

    Tri Meryta was declared passing fit and proper test based on Otoritas Jasa Keuangan letter Number: S-394/PM.21/2015 dated 3 November 2015 concerning Change of the Board of Directors Composition.

Board of Commissioners

Hugh Young

President Commissioner

Hugh Young is Head of Asia Pacific for Aberdeen Standard Investments.

He was formerly a main board director and Head of Investments for Aberdeen Asset Management (before its merger with Standard Life plc).

Hugh joined Aberdeen Standard Investments as a result of the merger between Aberdeen Asset Management and Standard Life in August 2017.

Hugh joined Aberdeen in 1985 to manage Asian equities from London, having started his investment career in 1980.

He founded Singapore-based Aberdeen Asia in 1992 and since then he has built the company into one of the largest and most well-respected managers of such assets globally.

Hugh is a director of a number of group subsidiary companies and group-managed investment trusts and funds.

Hugh graduated with a BA (Hons) in Politics from Exeter University.

Ian Robert Macdonald

Commissioner

Ian is the Deputy Head of Asia Pacific and he works closely with Hugh Young to support the continued development of the Aberdeen Standard Investments’ business in the region.

His direct reports include Aberdeen Standard Investments’ various country heads as well as the regional Head of Product, Human Resources, Business Risk, Compliance and Legal.

Ian joined Aberdeen Standard Investments as result of the merger between Aberdeen Asset Management and Standard Life in August 2017. Ian joined Aberdeen in 2013.

In 1998 Ian qualified as a chartered accountant worked for the Price Waterhouse in London before joining Lazard as an M&A banker.

In 2005 he moved to Hong Kong to head HSBC’s Asia Pacific private equity coverage team.

Since 2008, Ian has been based in Singapore and was formerly the Chief Executive Officer of the emerging markets equities fund management firm, Arisaig Partners.

Ian holds a first class undergraduate degree in Ancient History from the University of London and is an alumnus of both IMD (Program for Executive Development) and Harvard Business School (Advanced Management Program).

Ubaidillah Nugraha

Independent Commissioner

Ubaidillah Nugraha is a lecturer in Financial Institution, Corporate Governance and Business Ethics at University of Bina Nusantara, a member of Risk Committee and Audit Committee at HSBC Bank, Jakarta.

Ubaidillah Nugraha is appointed as an Independent Commissioner of PT Aberdeen Standard Investments Indonesia on 31st July 2019 following his career at PT Trimegah Sekuritas as Finance and Strategy Director, PT Bank Mandiri Tbk as Vice President of Consumer Banking Business in which his responsibilities were to establish Wealth Management, Mutual Funds Supermarket and Mandiri Investment Manager as new businesses, Boston Consulting Group as a researcher in financial industry and capital market and a manager at PT BNP Paribas Investment Management (previously known as PT Meespierson Finas Asset Management).

Ubaidillah is a Ph.D. candidate in Public Policy at the University of Indonesia. He holds a bachelor degree in Economy from University of Indonesia and a master degree in Public Policy from Victoria University, Wellington, New Zealand.

  • Hugh Young

    President Commissioner

    Hugh Young is Head of Asia Pacific for Aberdeen Standard Investments.

    He was formerly a main board director and Head of Investments for Aberdeen Asset Management (before its merger with Standard Life plc).

    Hugh joined Aberdeen Standard Investments as a result of the merger between Aberdeen Asset Management and Standard Life in August 2017.

    Hugh joined Aberdeen in 1985 to manage Asian equities from London, having started his investment career in 1980.

    He founded Singapore-based Aberdeen Asia in 1992 and since then he has built the company into one of the largest and most well-respected managers of such assets globally.

    Hugh is a director of a number of group subsidiary companies and group-managed investment trusts and funds.

    Hugh graduated with a BA (Hons) in Politics from Exeter University.

  • Ian Robert Macdonald

    Commissioner

    Ian is the Deputy Head of Asia Pacific and he works closely with Hugh Young to support the continued development of the Aberdeen Standard Investments’ business in the region.

    His direct reports include Aberdeen Standard Investments’ various country heads as well as the regional Head of Product, Human Resources, Business Risk, Compliance and Legal.

    Ian joined Aberdeen Standard Investments as result of the merger between Aberdeen Asset Management and Standard Life in August 2017. Ian joined Aberdeen in 2013.

    In 1998 Ian qualified as a chartered accountant worked for the Price Waterhouse in London before joining Lazard as an M&A banker.

    In 2005 he moved to Hong Kong to head HSBC’s Asia Pacific private equity coverage team.

    Since 2008, Ian has been based in Singapore and was formerly the Chief Executive Officer of the emerging markets equities fund management firm, Arisaig Partners.

    Ian holds a first class undergraduate degree in Ancient History from the University of London and is an alumnus of both IMD (Program for Executive Development) and Harvard Business School (Advanced Management Program).

  • Ubaidillah Nugraha

    Independent Commissioner

    Ubaidillah Nugraha is a lecturer in Financial Institution, Corporate Governance and Business Ethics at University of Bina Nusantara, a member of Risk Committee and Audit Committee at HSBC Bank, Jakarta.

    Ubaidillah Nugraha is appointed as an Independent Commissioner of PT Aberdeen Standard Investments Indonesia on 31st July 2019 following his career at PT Trimegah Sekuritas as Finance and Strategy Director, PT Bank Mandiri Tbk as Vice President of Consumer Banking Business in which his responsibilities were to establish Wealth Management, Mutual Funds Supermarket and Mandiri Investment Manager as new businesses, Boston Consulting Group as a researcher in financial industry and capital market and a manager at PT BNP Paribas Investment Management (previously known as PT Meespierson Finas Asset Management).

    Ubaidillah is a Ph.D. candidate in Public Policy at the University of Indonesia. He holds a bachelor degree in Economy from University of Indonesia and a master degree in Public Policy from Victoria University, Wellington, New Zealand.

Investment Committee Members

Hugh Young

Head

Hugh Young is Head of Asia Pacific for Aberdeen Standard Investments.

He was formerly a main board director and Head of Investments for Aberdeen Asset Management (before its merger with Standard Life plc).

Hugh joined Aberdeen Standard Investments as a result of the merger between Aberdeen Asset Management and Standard Life in August 2017.

Hugh joined Aberdeen in 1985 to manage Asian equities from London, having started his investment career in 1980.

He founded Singapore-based Aberdeen Asia in 1992 and since then he has built the company into one of the largest and most well-respected managers of such assets globally.

Hugh is a director of a number of group subsidiary companies and group-managed investment trusts and funds.

Hugh graduated with a BA (Hons) in Politics from Exeter University.

Adam McCabe

Member

Adam McCabe is head of the fixed income division for Asia, in charge of supervising investment strategies and managing the portfolio of fixed income Aberdeen Standard Investments (Asia) Limited in Asia.

Adam joined Aberdeen in 2009 after the acquisition of the asset management business of Credit Suisse.

Adam worked for Credit Suisse from 2001 where he served as a director or investment manager in charge of developing and implementing currency and interest rate strategies in Asia.

Previously he had been a member of the fixed income team for Australia in Credit Suisse, where he was in charge of the interest rate and currency strategies.

He was also a member of strategy groups for global currencies or emerging market.

Besides, Adam was one Head of the fixed income division of Woori Credit Suisse Asset Management, Korea, where he was in charge of the management of fixed income securities and money markets portfolio, including investment strategies and investment process.

Adam earned his BCOMM (First Class Honours and Medal University) from the University of Sydney, Australia and Diploma in Global Finance from the Chinese University of Hong Kong.

Robert Penaloza

Member

Robert Penaloza is Head of Australian Equities for Aberdeen Standard Investments in charge of all domestic equities strategies, their underlying portfolios and managing the equities investment team responsible for conducting the research of Australian and New Zealand listed securities. 

Robert joined Aberdeen in 1997 in Singapore where he honed his fundamental investment skill under Hugh Young and was a member of the equities team managing Asia ex-Japan strategies.

In 2002 Robert was seconded to Bangkok to implement the investment process following an acquisition and was promoted to CEO of Thailand in 2006.

In 2009 Robert transferred back to Singapore before being posted to Sydney in 2010 following the acquisition of Credit Suisse Asset Management in in Australia.

Robert has completed the General Management Executive Education program from Harvard Business School. He has attained a Graduate Diploma from the Australian Institute of Company Directors and has a Bachelor of Business from Northern Territory University.

  • Hugh Young

    Head

    Hugh Young is Head of Asia Pacific for Aberdeen Standard Investments.

    He was formerly a main board director and Head of Investments for Aberdeen Asset Management (before its merger with Standard Life plc).

    Hugh joined Aberdeen Standard Investments as a result of the merger between Aberdeen Asset Management and Standard Life in August 2017.

    Hugh joined Aberdeen in 1985 to manage Asian equities from London, having started his investment career in 1980.

    He founded Singapore-based Aberdeen Asia in 1992 and since then he has built the company into one of the largest and most well-respected managers of such assets globally.

    Hugh is a director of a number of group subsidiary companies and group-managed investment trusts and funds.

    Hugh graduated with a BA (Hons) in Politics from Exeter University.

  • Adam McCabe

    Member

    Adam McCabe is head of the fixed income division for Asia, in charge of supervising investment strategies and managing the portfolio of fixed income Aberdeen Standard Investments (Asia) Limited in Asia.

    Adam joined Aberdeen in 2009 after the acquisition of the asset management business of Credit Suisse.

    Adam worked for Credit Suisse from 2001 where he served as a director or investment manager in charge of developing and implementing currency and interest rate strategies in Asia.

    Previously he had been a member of the fixed income team for Australia in Credit Suisse, where he was in charge of the interest rate and currency strategies.

    He was also a member of strategy groups for global currencies or emerging market.

    Besides, Adam was one Head of the fixed income division of Woori Credit Suisse Asset Management, Korea, where he was in charge of the management of fixed income securities and money markets portfolio, including investment strategies and investment process.

    Adam earned his BCOMM (First Class Honours and Medal University) from the University of Sydney, Australia and Diploma in Global Finance from the Chinese University of Hong Kong.

  • Robert Penaloza

    Member

    Robert Penaloza is Head of Australian Equities for Aberdeen Standard Investments in charge of all domestic equities strategies, their underlying portfolios and managing the equities investment team responsible for conducting the research of Australian and New Zealand listed securities. 

    Robert joined Aberdeen in 1997 in Singapore where he honed his fundamental investment skill under Hugh Young and was a member of the equities team managing Asia ex-Japan strategies.

    In 2002 Robert was seconded to Bangkok to implement the investment process following an acquisition and was promoted to CEO of Thailand in 2006.

    In 2009 Robert transferred back to Singapore before being posted to Sydney in 2010 following the acquisition of Credit Suisse Asset Management in in Australia.

    Robert has completed the General Management Executive Education program from Harvard Business School. He has attained a Graduate Diploma from the Australian Institute of Company Directors and has a Bachelor of Business from Northern Territory University.

Remuneration Committee Members

Hugh Young

Head

Hugh Young is Head of Asia Pacific for Aberdeen Standard Investments.

He was formerly a main board director and Head of Investments for Aberdeen Asset Management (before its merger with Standard Life plc).

Hugh joined Aberdeen Standard Investments as a result of the merger between Aberdeen Asset Management and Standard Life in August 2017.

Hugh joined Aberdeen in 1985 to manage Asian equities from London, having started his investment career in 1980.

He founded Singapore-based Aberdeen Asia in 1992 and since then he has built the company into one of the largest and most well-respected managers of such assets globally.

Hugh is a director of a number of group subsidiary companies and group-managed investment trusts and funds.

Hugh graduated with a BA (Hons) in Politics from Exeter University.

Ian Robert Macdonald

Member

Ian is the Deputy Head of Asia Pacific and he works closely with Hugh Young to support the continued development of the Aberdeen Standard Investments’ business in the region.

His direct reports include Aberdeen Standard Investments’ various country heads as well as the regional Head of Product, Human Resources, Business Risk, Compliance and Legal.

Ian joined Aberdeen Standard Investments as result of the merger between Aberdeen Asset Management and Standard Life in August 2017. Ian joined Aberdeen in 2013.

In 1998 Ian qualified as a chartered accountant worked for the Price Waterhouse in London before joining Lazard as an M&A banker.

In 2005 he moved to Hong Kong to head HSBC’s Asia Pacific private equity coverage team.

Since 2008, Ian has been based in Singapore and was formerly the Chief Executive Officer of the emerging markets equities fund management firm, Arisaig Partners.

Ian holds a first class undergraduate degree in Ancient History from the University of London and is an alumnus of both IMD (Program for Executive Development) and Harvard Business School (Advanced Management Program).

  • Hugh Young

    Head

    Hugh Young is Head of Asia Pacific for Aberdeen Standard Investments.

    He was formerly a main board director and Head of Investments for Aberdeen Asset Management (before its merger with Standard Life plc).

    Hugh joined Aberdeen Standard Investments as a result of the merger between Aberdeen Asset Management and Standard Life in August 2017.

    Hugh joined Aberdeen in 1985 to manage Asian equities from London, having started his investment career in 1980.

    He founded Singapore-based Aberdeen Asia in 1992 and since then he has built the company into one of the largest and most well-respected managers of such assets globally.

    Hugh is a director of a number of group subsidiary companies and group-managed investment trusts and funds.

    Hugh graduated with a BA (Hons) in Politics from Exeter University.

  • Ian Robert Macdonald

    Member

    Ian is the Deputy Head of Asia Pacific and he works closely with Hugh Young to support the continued development of the Aberdeen Standard Investments’ business in the region.

    His direct reports include Aberdeen Standard Investments’ various country heads as well as the regional Head of Product, Human Resources, Business Risk, Compliance and Legal.

    Ian joined Aberdeen Standard Investments as result of the merger between Aberdeen Asset Management and Standard Life in August 2017. Ian joined Aberdeen in 2013.

    In 1998 Ian qualified as a chartered accountant worked for the Price Waterhouse in London before joining Lazard as an M&A banker.

    In 2005 he moved to Hong Kong to head HSBC’s Asia Pacific private equity coverage team.

    Since 2008, Ian has been based in Singapore and was formerly the Chief Executive Officer of the emerging markets equities fund management firm, Arisaig Partners.

    Ian holds a first class undergraduate degree in Ancient History from the University of London and is an alumnus of both IMD (Program for Executive Development) and Harvard Business School (Advanced Management Program).

Sharia Supervisory Board Members

Mohammad Bagus Teguh Perwira

Head

Mohammad Bagus Teguh Perwira is the Head of Sharia Supervisory Board at PT Aberdeen Standard Investments Indonesia from 2015 based on the recommendation letter from National Sharia Board (DSN-MUI) No.U-252/DSN-MUI/VIII/2015 on 14 August 2015.

Currently, Teguh is a Member of Sharia Supervisory Board in some sharia financial institutions such as bank, investment manager, pension fund, sharia cooperation and acting as Sharia Advisor in Sharia financial industries

Teguh holds undergraduate degree in Islamic Studies and Arabic from Al Azhar University, Cairo (1999) and postgraduate programs in Islamic Economics at Islamic University of Syarif Hidayatullah, Jakarta (2007).

He has obtained the license of Sharia Capital Market Expert (ASPM) issued by Otoritas Jasa Keuangan (OJK) KEP-03/D.04/ASPM-P/2016 on 14 March 2016.

Other than that, he holds certificate of Certified Financial Planner/ CFP® in 2010 and Certificate of Associate Estate Planning and Practitioner/ AEPP® in 2011

Irfan Syauqi Beik

Member

Irfan Syauqi Beik is a member of Shariah Supervisory Board at PT Aberdeen Standard Investments Indonesia from 2015 based on the recommendation letter from National Sharia Board (DSN-MUI) No. U-252/DSN-MUI/VIII/2015 on 14 August 2015.

Currently, Irfan is an Islamic Economics Department Lecturer at Faculty of Economics and Management as well as a Chairman of Zakat Division, at Economic Development and Sharia Public Policy at Bogor Agricultural University (IPB).

He earned Ph.D. in Islamic Economics from International Islamic University of Malaysia (2010), following Master of Science in Sharia micro Economics from International Islamic University Islamabad in 2005 and bachelor study program in Agribusiness at the Bogor Agricultural University in 2002.

He has obtained the license of Sharia Capital Market Expert (ASPM) issued by Otoritas Jasa Keuangan (OJK) KEP-22/D.04/ASPM-P/2016 on 8 August 2016.

  • Mohammad Bagus Teguh Perwira

    Head

    Mohammad Bagus Teguh Perwira is the Head of Sharia Supervisory Board at PT Aberdeen Standard Investments Indonesia from 2015 based on the recommendation letter from National Sharia Board (DSN-MUI) No.U-252/DSN-MUI/VIII/2015 on 14 August 2015.

    Currently, Teguh is a Member of Sharia Supervisory Board in some sharia financial institutions such as bank, investment manager, pension fund, sharia cooperation and acting as Sharia Advisor in Sharia financial industries

    Teguh holds undergraduate degree in Islamic Studies and Arabic from Al Azhar University, Cairo (1999) and postgraduate programs in Islamic Economics at Islamic University of Syarif Hidayatullah, Jakarta (2007).

    He has obtained the license of Sharia Capital Market Expert (ASPM) issued by Otoritas Jasa Keuangan (OJK) KEP-03/D.04/ASPM-P/2016 on 14 March 2016.

    Other than that, he holds certificate of Certified Financial Planner/ CFP® in 2010 and Certificate of Associate Estate Planning and Practitioner/ AEPP® in 2011

  • Irfan Syauqi Beik

    Member

    Irfan Syauqi Beik is a member of Shariah Supervisory Board at PT Aberdeen Standard Investments Indonesia from 2015 based on the recommendation letter from National Sharia Board (DSN-MUI) No. U-252/DSN-MUI/VIII/2015 on 14 August 2015.

    Currently, Irfan is an Islamic Economics Department Lecturer at Faculty of Economics and Management as well as a Chairman of Zakat Division, at Economic Development and Sharia Public Policy at Bogor Agricultural University (IPB).

    He earned Ph.D. in Islamic Economics from International Islamic University of Malaysia (2010), following Master of Science in Sharia micro Economics from International Islamic University Islamabad in 2005 and bachelor study program in Agribusiness at the Bogor Agricultural University in 2002.

    He has obtained the license of Sharia Capital Market Expert (ASPM) issued by Otoritas Jasa Keuangan (OJK) KEP-22/D.04/ASPM-P/2016 on 8 August 2016.