New Bank Indonesia Regulation Provides Further Guidance on Payment Systems Regime

30 Aug 2022 The central bank, Bank Indonesia (“BI”), has issued an implementing regulation to follow up on its recent series of regulations focused on payment systems (BI Regulation No. 22/23/PBI/2020 / “PBI 22/23”[1], BI Regulation No. 23/6/PBI/2021 / “PBI 23/6”[2] and BI Regulation No. 23/7/PBI/2021 / “PBI 23/7”[3] -- for a detailed analysis of these regulations,…

Bank Indonesia Issues New Regulations to Consolidate Forex Rules and Relax Underlying Transaction Requirements

19 Aug 2022 A. Introduction As the shadow of Covid dissipates and the volume of cross-border transactions continues to rise, Bank Indonesia has issued two new regulations to consolidate the foreign-exchange (forex) market rules that were previously contained in a large number of disparate regulations. Importantly, the new regulations also relax the underlying-transaction requirements…

KAI’s Rp 2 Trillion Islamic and Conventional Bonds Issue Listed on IDX

11 Aug 2022 ABNR would like to congratulate Indonesian state railways PT Kereta Api Indonesia (Persero) (KAI) on their recent issuance of IDR 2 trillion (USD 136 million) in conventional and Islamic bonds. The bonds were listed on the Indonesia Stock Exchange on 8 August. Proceeds from the bonds in the amount of IDR 1 trillion will be used to repay debt principal arising from KAI Bonds I Year 2017…