Regulatory Alerts2009-04-13
Bank Indonesia Circular Letter No. 11/10/DASP on Management of Card-Based Payment Instrument Activities
Bank Indonesia issued Circular Letter No. 11/10/DASP to establish detailed licensing requirements for Banks and Non-Bank Institutions acting as Principals, Issuers, or Acquirers of card-based payment instruments. The regulation mandates specific application procedures and documentation, including business plans, risk management frameworks, and IT security audits, to ensure the effective and secure management of these activities. These provisions support the implementation of Bank Indonesia Regulation Number 11/11/PBI/2009 by defining the eligibility and operational standards for all parties involved in the card payment ecosystem.
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