BI Offers Leniency on the Mandatory Fulfillment of the Daily Rupiah GWM for Banks that Provide Funding in Order to Mitigate the Economic Impacts of the Coronavirus Outbreak

In line with the government’s various attempts to mitigate the negative economic impacts of the coronavirus outbreak through the provision of economic stimuli and incentives, Bank Indonesia (“BI”) recently issued Regulation No. 22/4/PBI/2020 of 2020 (“Regulation 4/2020”), which sets out a regulatory framework for the granting of certain incentive to conventional commercial banks, sharia commercial banks and sharia business units (collectively referred to as “Banks”) that provide funding for certain economic activities which are aimed at supporting the mitigation of the many economic impacts which have resulted from the coronavirus outbreak.[1]