Bank Indonesia (“BI”) expects rising inflation for 2022 Q3. This will result in BI raising benchmark interest rate, which is currently at the lowest level in history. BI Governor Perry Warjiyo commented that 2022’s inflation rate will be higher than
Bank Indonesia (BI) plans to develop digital rupiah currency or Central Bank Digital Currency (CBDC). This development is beneficial for the financial technology sector and crypto assets that are being developed by various market actors. Deputy Chairperson of the Indonesian
Bank Indonesia (BI) reports that there are several banks that have yet to meet the Government’s target of 20% loan allocation to the MSME sector in Indonesia. Key reason for failing to meet these targets is due to the lack
Bank Indonesia (BI) introduces BI-Fast, a new payment system to replace the current National Clearing System of Bank Indonesia (“SKNBI”). The key pain point of the SKNBI system is the lag time, up to one hour, needed for transaction settlements.
Bank Indonesia (BI) extended the minimum credit card payment limit of 5% to mid-2022. The central bank, or BI, also extended the reduction in late payment penalties as one of the measures to support the ongoing economic recovery. According
Bank Indonesia (BI) issues new banking rules to make it easier for banks to meet mandatory MSME or business lending targets. Under this new regulation, banks are required to allocate a minimum 20% of total lending to the MSME sector
Bank Indonesia (BI) is optimistic that credit disbursements can grow 4%- 6% this year, supported by the following four factors. First factor is the recovery of the global economy, raising world commodity prices that have a positive impact on Indonesia
Bank Indonesia (BI) noted that there are 190 payment service providers that had obtained permits and gone through a reclassification process. The majority of them are considered payment service providers (PJP) companies with a minimum capital of US$1 million (IDR
Bank Indonesia (BI) plans to increase the minimum proportion of MSME lending from 20% to 30% by 2024. Currently, only half of the banks in Indonesia meet the minimum requirement. The remaining banks have not been successful in allocating 20%
Bank Indonesia (BI) noted the increase in digital banking transactions, as the consumer preference for online shopping and digital payment options rose.The total volume of digital banking transactions in April 2021 grew by 60.27% year-on-year to ~573 million transactions with
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