BANK INDONESIA
Notes to Financial Statements As at December 31, 2008
34 For Government demand deposits, Bank Indonesia has not yet provided interest as stated
in Act of Republic of Indonesia Number 1 of 2004 concerning State Treasury, Article 23, paragraph 1, because Bank Indonesia and the Government are still discussing the issue.
17. Bank Demand Deposits
Bank demand deposits are the balance of demand deposits of commercial banks in order to comply with Minimum Reserve Requirement Giro Wajib Minimum - GWM.
GWM is regulated by Bank Indonesia Regulation Number 1019PBI2008 dated October 14, 2008 concerning Minimum Reserve Requirement of Commercial Banks in Bank
Indonesia in Rupiah and Foreign Currency. As stated in Bank Indonesia Regulation Number 1025PBI2008 dated October 23, 2008 concerning the Amendment of Bank
Indonesia Regulation Number 1019PBI2008, GWM in Rupiah is determined at 7,5 of Third Party Funds Dana Pihak Ketiga - DPK in Rupiah, while GWM in foreign
currency at 1 of DPK in foreign currency.
Bank Indonesia provides compensation for the part of the balance of bank demand deposits account in Rupiah that is intended to fulfill the obligation of additional GWM in
Rupiah. As of October 24, 2008, as stated in Bank Indonesia Regulation Number 1025PBI2008 dated October 23, 2008, Bank Indonesia does not provide
compensation for the balance of bank demand deposits in Rupiah in Bank Indonesia.
The obligation to maintain GWM in Rupiah and in foreign currency is also applied to banks that perform their activities based on Sharia Principles Sharia banks, including
banks and the representative offices of banks whose head office is domiciled overseas foreign banks that perform their activities based on conventional and Sharia Principles
referred to as Sharia Business Units Unit Usaha Syariah – UUS. According to Bank Indonesia Regulation Number 6212004 dated August 3, 2004 concerning Minimum
Reserve Requirement in Rupiah and Foreign Currency for commercial banks that perform their activities based on sharia principles, as amended by Bank Indonesia
Regulation Number 1023PBI2008 dated October 16, 2008, GWM in Rupiah for Sharia Banks is determined at 5 of DPK in rupiah and GWM in foreign currency is
determined at 1 of DPK in foreign currency. Other than that, for Sharia banks with DPK more than IDR1 trillion and the ratio of funding in Rupiah to DPK in Rupiah is less
than 80, additional GWM in Rupiah is applied at 1, 2, and 3, depending on the amount of DPK of the banks. Bank Indonesia does not provide compensation to the
balance of bank demand deposits account of Sharia banks. Bank Demand Deposits as at December 31, 2008 and December 31, 2007 were as follows:
December 31, 2008 December 31, 2007
IDR million IDR million
In Rupiah 79,678,015
158,668,351 In Foreign Currency
5,519,062 9,944,049
85,197,077 168,612,400
