Regulatory Alerts2021-07-01
Bank Indonesia Regulation on Payment System Infrastructure Providers
Bank Indonesia issued Regulation Number 23/7/PBI/2021 to establish a comprehensive regulatory framework for Payment System Infrastructure Providers (PIPs). The regulation mandates that entities operating payment infrastructure must obtain prior designation from Bank Indonesia based on assessments of financial system stability and public interest. It further details strict eligibility requirements regarding institutional structure, domestic ownership thresholds, fit and proper tests for management, and operational standards for clearing and settlement activities.
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