Regulatory Alerts2017-05-03
Bank Indonesia Regulation Number 19/7/PBI/2017 Concerning Carrying Foreign Banknotes Into and Out of The Customs Territory of The Republic of Indonesia
Bank Indonesia issued Regulation Number 19/7/PBI/2017 to regulate the carrying of foreign banknotes into and out of Indonesia's customs territory for monetary control purposes. The regulation mandates that any party carrying foreign banknotes valued at least at one billion rupiah must obtain a permit from Bank Indonesia, restricting such activities to licensed Banks and Money Changers. It establishes a framework for permit validity, prior approval quotas, data reporting, and administrative sanctions to ensure compliance and support Rupiah stability.
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