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Kamis, Mei 12, 2022

BI Introduces Provisions on the Utilization of the Rupiah Currency During International Activities

Monetary and Payment System

In order to ensure that the rupiah currency will ultimately help to develop and improve the national economy, Bank Indonesia ("BI") has decided to introduce a set of comprehensive provisions on the utilization of the rupiah during international activities through the issuance of Regulation No. 24/6/PBI/2022 ("Regulation 24/2022"), which has effectively been in force since 27 April 2022. Moreover, Regulation 24/2022 has also been introduced in order to maintain the overall stability of the monetary system, as well as to prevent and minimize any risks inherent within the monetary sector.
Under Regulation 24/2022, the scope of utilization of the rupiah currency during international activities encompasses the following activities: 1) Utilization of the rupiah outside Indonesian territories; and 2) Utilization of the rupiah by non-citizens within Indonesian territories. Said utilizations may only be carried out if it is deemed that such activities will ultimately have a positive impact upon or benefit the Indonesian economy in line with various related factors.
The utilization of the rupiah outside Indonesian territories may be undertaken in various forms, including: 1) Physical forms; 2) Account-based forms; and 3) Digital forms. Meanwhile, the utilization of the rupiah by non-citizens within Indonesian territories must be supported by underlying economic activities, which include the following: 1) Ongoing transactions; 2) Financial transactions; 3) Capital transactions; and 4) Other transactions determined by BI.
Finally, BI may request the submission of relevant data, information or statements by citizens and/or non-citizens in order to monitor the implementation of Regulation 24/2022 in line with relevant BI regulations.
For more on this story, see Hukumonline: “Begini Aturan Penggunaan Rupiah dalam Berkegiatan Internasional”.

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In order to ensure that the rupiah currency will ultimately help to develop and improve the national economy, Bank Indonesia ("BI") has decided to introduce a set of comprehensive provisions on the utilization of the rupiah during international activities through the issuance of Regulation No. 24/6/PBI/2022 ("Regulation 24/2022"), which has effectively been in force since 27 April 2022. Moreover, Regulation 24/2022 has also been introduced in order to maintain the overall stability of the monetary system, as well as to prevent and minimize any risks inherent within the monetary sector.
Under Regulation 24/2022, the scope of utilization of the rupiah currency during international activities encompasses the following activities: 1) Utilization of the rupiah outside Indonesian territories; and 2) Utilization of the rupiah by non-citizens within Indonesian territories. Said utilizations may only be carried out if it is deemed that such activities will ultimately have a positive impact upon or benefit the Indonesian economy in line with various related factors.
The utilization of the rupiah outside Indonesian territories may be undertaken in various forms, including: 1) Physical forms; 2) Account-based forms; and 3) Digital forms. Meanwhile, the utilization of the rupiah by non-citizens within Indonesian territories must be supported by underlying economic activities, which include the following: 1) Ongoing transactions; 2) Financial transactions; 3) Capital transactions; and 4) Other transactions determined by BI.
Finally, BI may request the submission of relevant data, information or statements by citizens and/or non-citizens in order to monitor the implementation of Regulation 24/2022 in line with relevant BI regulations.
For more on this story, see Hukumonline: “Begini Aturan Penggunaan Rupiah dalam Berkegiatan Internasional”.

......

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Semua Fitur Paket Professional
Layanan Penerjemahan Peraturan
Precedent Hukumonline
Virtual Discussion

PROFESSIONAL

Rp 4.500.000

per bulan

Semua Fitur Paket Standard
Terjemahan Peraturan
Peraturan Konsolidasi
Premium Stories
Monthly Law Review (MLR)
Indonesian Law Digest (ILD)

STANDARD

Rp 2.500.000

per bulan

Indonesian Legal Brief (ILB)
Daily Updates
Bantuan Layanan Pencarian Peraturan
Pusat Data Peraturan dan Putusan Pengadilan Non-Precedent

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