Regulatory Alerts2016-04-28
Regulation of Bank Indonesia Number 18/6/PBI/2016 on Amendment to Regulation on Operation of Transactions, Administration of Securities, and Real-Time Fund Settlement
Bank Indonesia issued Regulation Number 18/6/PBI/2016 to amend previous provisions regarding the Bank Indonesia-Real Time Gross Settlement System. The regulation restricts fund transfers through the BI-RTGS System to only those addressed to customers who hold accounts at the recipient Participant. This measure aims to enhance the efficiency, security, and smoothness of the payment system while supporting efforts to prevent money laundering and terrorism financing.
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