BI Harmonizes GWM Policies for the Organization of the BI-FAST System

With the ultimate goal of improving the efficiency of national retail payment system infrastructure and to facilitating the real-time transfer of funds on a 24/7 basis, Bank Indonesia (“ BI ”) has launched the BI-Fast Payment (“ BI-FAST ”) system. [1] In order to ensure the liquidity of banking industry players against a backdrop of this new retail payment system, BI is working to harmonize the organization of the BI-FAST system with relevant monetary policies, specifically policies on statutory reserve requirements. [2]