In order to meet the goal of accommodating the settlement of bilateral-trade transactions using local currency (Local Currency Settlements– “
LCS”) for the purpose of maintaining the stability of the rupiah currency,
[1] Bank Indonesia (“
BI”) has issued Regulation
No. 19/11/PBI/2017 on the Settlement of Bilateral Trade Transactions through the Use of Local Currency (Local Currency Settlements) via Banks (“
Regulation 19/2017”).
Regulation 19/2017 addresses a number of comprehensive provisions which relate to the implementation of LCS and these are divided into the following sections:
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