Regulatory Alerts2021-09-06
Regulation on Settlement for Bilateral Transactions Between Indonesia and China Using Rupiah and Yuan
Bank Indonesia issued Regulation Number 23/16/PADG/2021 to establish a structured framework for bilateral trade settlement between Indonesia and China using local currencies. The regulation designates specific banks as Appointed Cross Currency Dealers to manage special purpose accounts and facilitates yuan-rupiah transactions for underlying trade and investment activities. It further mandates reporting requirements, pricing transparency, and defines the criteria for the appointment and termination of these designated banks.
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