Indonesia

Firms are invited to develop new solutions for issuing and distributing CBDCs, improve interoperability and advance financial inclusion.

Indonesia will charge a capital gains tax and VAT on crypto transactions, as well as interest and fees generated from fintech services, starting on 1 May 2022.

Regulators are calling on market participants to increase the use of IndONIA as an interest rate benchmark in rupiah financial products and instruments.

Banks that expand priority sector credit and inclusive financing beyond certain thresholds can reduce their statutory reserve requirements.

This is the third green bond fund launched by the BIS. It will help channel central bank reserves to green projects in the Asia and Pacific region.

The collaboration will include areas such as cross-border payments, digital payments, and other areas related to settlement and market infrastructure.

Domestic banks will be able to access other Asian currencies via cross-currency repo and other collateralised transactions with Bank Indonesia.

BI-Fast launched in December with an initial 21 entities; 21 additional banks and Indonesia's CSD have now also enrolled.

The linkage will eventually be expanded to support real-time cross-border fund transfers. The 2nd phase of Malaysia's QR payment linkage with Thailand has also gone live.

MAS and Bank Indonesia will deepen cooperation on payments innovation, monetary policy, macroprudential policy, financial stability, and AML/CFT.