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credit used domestically; intraday overdraft; overdraft due to administration fee; billings
takeover from corporation appointed by the Government to manage assets of Banks in
regards to Indonesian banking restructuring by Foreign Parties, which payments are
secured by prime banks.
b. Prohibition of securities purchase in Rupiah does not apply to: securities purchase related
to exports from Indonesia and imports to Indonesia and domestic trade; Bank draft
purchase in Rupiah issued by overseas Bank for the interest of TKI Indonesian Migrant
Workers.
c. Prohibition of Rupiah transfer does not apply to: Indonesian economic activities; or
between account owned by the same Foreign Parties.
d. Prohibition of derivative transaction in foreign currency against Rupiah does not apply in
case the derivative transaction is made for the purpose of hedging in the following activities
and completed with supporting documents: investment in Indonesia with minimum terms
of 3 months; exports and imports using LC; domestic trade using Letter of Credit with
Domestic Documentation SKBDN.
6. National Clearing System SKN
Clearing is an exchange of LetterScripless and or Electronic Financial Data DKE among clearing
participants whether on behalf of participants or on behalf of participant’s customers where the
calculations are settled within a certain period of time. SKNBI is BI clearing system that includes debit and
credit clearing, which inal settlement is carried out nationally. Final settlement of debit and credit clearing
by National Clearing Operator PKN is based on net multilateral calculation and based on debt updates
novation principle in consideration of participants funds and of absolute nature and cannot be revoked.
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Final settlement is also based on same day settlement principle. The nominal value of debit note issued
by the Bank for clearance through debit clearing in SKNBI is a maximum of Rp 10 millions per debit note.
The limit of nominal value of credit transfer that can be cleared through credit clearing is under Rp. 100
millions per transaction.
7. Real Time Gross Settlement RTGS
In order to encourage the achievement of payment system that is eicient, fast, secure and reliable
to support the stability of inancial system, BI implemented BI-RTGS system. BI-RTGS is electronic
fund transfer system among Participants in Rupiah currency which settlement is carried out immediately
per transaction individually.
8. Certiicate of Bank Indonesia SBI
SBI is securities in Rupiah currency issued by BI as short-term admission of debt and is one of the
instruments in Open Market Operation. SBI is issued scripless which trade is carried out by discount system.
SBI can be owned by Banks and other parties deined by BI and is transferrable negotiable.
SBI can be purchased in initial public ofering and is traded in secondary market with repurchase
agreementrepo or outright buyingselling.
9. Sharia BI Certiicates SBIS
SBIS is short-term securities based on Sharia principles in Rupiah currency issued by BI. SBIS is issued as one of
the instruments in open market operation concerning monetary control carried out based on Sharia
principles. SBIS is issued using Ju’alah contract. BI deines and provides rewards on the issued SBIS that
is payable on the maturity date. SBIS can be owned by BUS and UUS.
10. Government Securities SUN
SUN consists of Government Treasury Bills and Government Bonds. Government Treasury Bills have
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a 12-month term with discounted interest payment, while Government Bonds have maturity of more than
12 months with a coupon and or discounted interest payment. Individuals, corporations, joint ventures,
associations, or organized groups are able to purchase SUN in the initial public ofering, by submitting
purchase ofer to BI auction agents through bidders that consist of Banks, Money Market Brokerage
Companies and Stock Exchange Companies that meet the criteria and conditions as deined by the Minister
of Finance.
11. Bank Secrecy
Bank secrecy is everything related to information about depositors and their deposits. Information on
customers other than depositors and their deposits are not considered information that should be kept
conidential by banks. The above regulation also applies to the ailiated parties.
Regulation of Bank Secrecy does not apply to: a. Tax interests.
b. Settlement of bank’s account receivables that has
been submitted to the Agency of State Account Receivables and Auctions BUPLN Committee of
State Account Receivables PUPN c. Interests of justice in a criminal case
d. Interests of justice in a civil case between a Bank and its Customers
e. Interbank information exchange. f. Written request, consent or authority from the
depositors. g. Request from legal heirs of deceased depositors.
h. In the context of audits related to money laundering.
Implementation of regulation in letters a, b and c should irst obtain written instruction or permit from
BI Manager to open thre Bank secrecy; while the implementation of regulation in letters d, e, f, g and h
does not need any written instruction or permit.
12. Human Resources Development in Banking Sector
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Commercial banks and Rural Banks should provide education funds to improve SDM knowledge and
skills in banking sector. The amount of education funds for a commercial bank is of 5 at a minimum
from the amount of SDM expenditure budget, while for a Rural Bank is at least 5 of the realization of SDM
cost in the previous year. If there is education funding remaining, it should be added to the education funds
for the following year. Education and training can be implemented as follows:
a. Self organized by the Bank; b. Participate in other educational program
conducted by other Banks; c. organize the educational program together with
other Banks; or d. Send SDM to join education program organized
by banking education institution. The above education plan should obtain approval
from the Board of Commissioners or Commercial BanksRural Banks Supervisory Board and should
be reported to BI in the Annual Work Plan Report.
13. Banking Mediation
The implementation of Banking Mediation is regulated in PBI No.85PBI2006 about Banking Mediation as
amended by PBI No.101PBI2008. Based on the above regulation, requirement for disputes which
settlements can be attempted through Banking Mediation are disputes that potentially leads to
inancial loss to the customers and which is allegedly due to the mistakes or negligences of banks.
Aside from the above, the submission of dispute should meet the following conditions:
a. Financial claim amounted to maximum Rp
500,000,000 ive hundred million Rupiah and not in the form of immaterial loss.
b. Submitted in writing with suicient supporting documents.
c. Settlement had been submitted before by customers to the related Bank;
d. The dispute being submitted is not in process
