Corporate governance in people's credit banks in Indonesia: A challenge for a better future

The formulation of corporate governance standards in People's Credit Banks (PCBs) has taken a long time. In its development, after the 1997 Indonesian financial crisis, from 1998 to 2014, a number of acts and regulations that directly or indirectly govern corporate governance standards in PCBs were promulgated by Indonesian authorities. Nevertheless, the standard in PCBs are still poor. Just recently in March and December 2015, the Indonesian Financial Services Authority (IFSA) issued two more main regulations concerning corporate governance standards in PCBs. As a result, the standards have become more complex and need to be further studied