Regulatory Alerts2018-03-08
Bank Indonesia Regulation Number 20/2/PBI/2018 Concerning Amendment to Regulation on Carrying Foreign Banknotes
Bank Indonesia issued Regulation Number 20/2/PBI/2018 to amend existing rules governing the transport of foreign banknotes into and out of Indonesia's customs territory. The regulation establishes a one billion rupiah threshold for individuals, requires licensed institutions to obtain prior approval for larger volumes, and mandates quarterly reporting and supervision of these transactions. It also replaces previous customs-based penalties with specific administrative sanctions, including fines of up to 300 million rupiah and potential license revocation for non-compliance.
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