Regulatory Alerts2025-01-24
Regulation of the Member of the Board of Governors Number 2 of 2025 on Settlement for Bilateral Transactions between Indonesia and the United Arab Emirates Using Rupiah and Dirham through Banks
Issued by Bank Indonesia's Member of the Board of Governors, this regulation establishes the legal framework for settling bilateral trade transactions between Indonesia and the United Arab Emirates using local currencies (Rupiah and Dirham) through authorized banks. It mandates that participating financial institutions facilitate cross-border payments in these currencies to reduce reliance on third-party currencies and lower transaction costs. The measure aims to strengthen bilateral economic ties, enhance monetary cooperation, and streamline foreign exchange settlement procedures for importers and exporters in both countries.
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