BI Circular Letter Streamlines Debit and Credit Card Policies

Indra A Pambudy

On 7 June 2012, Bank Indonesia (“BI”) issued Circular Letter No. 14/17/DASP of 2012 (“Circular 14/2012”) on Amendment to Bank Indonesia Circular Letter No. 11/10/DASP (“Circular 11/2009”) on Facilitation of Card Payment Instrument.

The Circular 14/2012 is of interest to credit and debit card issuers (collectively called as “Issuers”), as their obligations include compliance with the BI Regulation No. 14/2/PBI/2012 on the Amendment to Bank Indonesia Regulation No. 11/11/PBI/2009 on Card-Based Payment Instrument Activities (See ILB No. 1830, 13 January 2012).