Cross-Border Clearing Expansion: Appointed Banks Face Strict Licensing and Rule Book Mandates for Renminbi Settlement

Bank Indonesia (“ BI ”) has issued Regulation of the Bank Indonesia Board of Governors No. 24 of 2026 on the Amendment (“ Amendment ”) to Regulation of the BI Board of Governors No. 17 of 2025 on Bilateral Transaction Settlement between Indonesia and China Using Rupiah (“ IDR ”) and Renminbi through Banks (“ Regulation 17/2025 ”). The Amendment officially came into force on 14 August 2026. [1]