The utilization of FLI is to be undertaken via a Repo mechanism for securities which are owned by Participants and which are made available in their FLI accounts

The Ministry of Finance has issued Regulation No. 141/PMK.08/2017 on Procedures for the Transfer of Taxpayer Assets to Indonesia and Their Placement within the Financial Market and External to the Financial Market under the Tax-Amnesty Framework in a bid to achieve compliance with the regulation simplification program and to relax the submission period for mandatory reporting by gateways.

In order to meet the goal of accommodating the settlement of bilateral-trade transactions using local currency for the purpose of maintaining the stability of the rupiah currency, Bank Indonesia 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

Bank Indonesia?s Board of Governors has issued Regulation No. 19/10/PADG/2017 on the National Payment Gateway (?Governors? Regulation 19/2017?), which serves as an implementation of Bank Indonesia Regulation No. 19/8/PBI/2017 on the National Payment Gateway

With the objective of simplifying the organization of freight-forwarding service business activities, the Ministry of Transportation has issued Regulation No. PM 49 of 2017 on the Organization and Management of Freight-Forwarding Services. In essence, this new regulation redefines several provisions which pertain to the following matters: scope of business activities, shipping documents, business licenses, branch offices and the development of human resources.

In a bid to create a more efficient, reliable and secure domestic payment system, as well as to facilitate the public need for non-cash transactions, Bank Indonesia has finally issued Regulation No. 19/8/PBI/2017 on the National Payment Gateway. This regulation basically sets out several important provisions regarding the organization of the National Payment Gateway (NPG), including: 1) Scope of the NPG; 2) Parties within the NPG; 3) Implementation of the NPG; 4) Mandatory Reporting; 5) The role of Bank Indonesia; and 6) Sanctions.

With the aim of simplifying transactions involving the rupiah currency through a process of denomination which doesn?t affect the value of said currency, the House of Representatives is currently deliberating the Draft Bill on the Redenomination of Rupiah (?Draft Bill?). This process of redenomination will see three digits being removed from the rupiah currency as it currently stands. In essence, the Draft Bill addresses the whole implementation of the redenomination process, including value-rounding mechanisms, new money circulation procedures and various mandatory measures which are to be implemented by businesses. The date for the redenomination of the rupiah has been set at 1 January 2020.

In a bid to boost the integrity of transactions that utilize clearing-account letters (bilyet giro) and to offer protection to those undertaking such transactions, Bank Indonesia has issued Regulation No. 18/41/PBI/2016, which describes a set of comprehensive guidelines to be used by individuals and businesses that undertake bilyet giro transactions. Previously, such guidelines were regulated under BI Directors Decree No. 228/32/KEP/DIR.

In a bid to increase certainty for freight-forwarding service businesses, the Ministry of Transportation has issued Regulation No. PM 130 of 2016 as the Fourth Amendment to Ministry Regulation No. PM 74 of 2015 on the Organization and Management of Freight-Forwarding Service Businesses. With this goal in mind, this amendment simplifies requirements for businesses who are seeking to secure freight-forwarding business licenses.