Regulating How We Pay, Bank of Indonesia Issues New Rule on Payment System

At the end of last year, Indonesia’s central bank, Bank Indonesia or BI issued a regulation on the payment system (BI Regulation No. 22/23/PBI/2020). This regulation, which will come into effect on 1 July 2021, was issued as part of BI’s initiation to reform Indonesia’s payment system regime stated in BI’s 2025 Payment System Blueprint.

For more information, click here to read the full Legal Update.

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