Bank Indonesia (“ BI ”) has issued Regulation of the Board of Governors No. 14 of 2026 on Letter-of-Credit (“ L/C ”) [1] Transactions [2] at Bank Indonesia (“ Regulation 14/2026 ”). Upon entering into force, Regulation 14/2026 repealed and replaced Regulation of the Board of Governors of BI No. 23/21/PADG/2021 (“ Regulation 23/2021 ”), which bore the same title as Regulation 14/2026. [3]
Letter-of-Credit Transactions Refined: Sharia-Based Issuance, Non-Transferable Status and More Documentation Requirements Introduced
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