Regulatory Alerts2011-12-01
Bank Indonesia Regulation No. 13/24/PBI/2011 on the Second Amendment to Sharia Monetary Operation Regulations
Bank Indonesia issued Regulation No. 13/24/PBI/2011 to amend its Sharia Monetary Operation framework and strengthen monetary control compliance. The amendment introduces mandatory financial penalties for participants who cancel second-leg transactions in repo and reverse repo operations. These sanctions calculate the penalty as the price difference between the first and second legs multiplied by the nominal value of the underlying securities, taking effect on December 1, 2011.
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