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Market Infrastructure
Malaysia, Indonesia Launch Cross-border QR Payments Linkage
By Editors | 27/01/2022
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.
Fintech / Regtech
Singapore, Indonesia to Deepen Cooperation on Payments, AML
By Editors | 22/01/2022
MAS and Bank Indonesia will deepen cooperation on payments innovation, monetary policy, macroprudential policy, financial stability, and AML/CFT.
Market Infrastructure
Indonesian Regulators Publish LIBOR Transition Guide
By Editors | 28/12/2021
The guide recommends five steps for market participants with LIBOR exposures, to help them respond to and prepare for the transition.
Fintech / Regtech
Bank Indonesia Launches New Fast Payments System, BI-Fast
By Sanday Chongo Kabange | 24/12/2021
BI-Fast lowers the interbank transfer fee, set at IDR 2,500 (USD 0.18) per transaction, down from the usual IDR 6,500 fee for interbank transfers. 21 banks have so far enrolled on BI-Fast.
Market Infrastructure
Indonesia Forms National Working Group on Benchmark Reform
By Editors | 29/11/2021
The working group will provide information and education to market players and recommendations on alternative benchmark rates.
Market Infrastructure
Bank Indonesia Issues Implementation Regulations for BI-FAST
By Editors | 22/11/2021
Banks with IDR 6 trillion in core capital, and non-bank institutions with IDR 100 billion in paid-up capital, can be direct participants of BI-FAST.
Fintech / Regtech
Indonesia Religious Council Declares Crypto Assets Forbidden
By Editors | 12/11/2021
Crypto assets as a currency are considered haram, or banned, for Muslims, according to Indonesia’s National Ulema Council.
Fintech / Regtech
Indonesia, UAE to Cooperate on Payments, Fintech, AML
By Editors | 11/11/2021
Central banks will cooperate on cross-border payments, fintech, and AML. Financial services regulators will cooperate on developing the Islamic finance industry.
Market Infrastructure
Bank Indonesia Set to Launch Faster Payment System
By Sanday Chongo Kabange | 11/11/2021
‘BI-Fast’ will enable real-time payments 24/7 for retail customers, and will also be used in cross-border payments in future.
Market Infrastructure
China, Indonesia Launches Local Currency Settlement Framework
By Sanday Chongo Kabange | 08/09/2021
Bank Indonesia has also recently expanded its local currency settlement frameworks with Japan, Malaysia and Thailand.
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