New IT Policy for SKNBI and Scrip Debit Trading Mechanism Now in Force

In 2019, Bank Indonesia’s (“ BI ”) Board of Governors introduced Regulation on the Organization of Fund Transfers and Scheduled Clearing by Bank Indonesia (“ Regulation 21/2019 ”). This framework primarily established various prerequisites that specifically related to the implementation of fund transfers and scheduled clearing through BI’s National Clearing System (Sistem Kliring Nasional Bank Indonesia– “ SKNBI ”). These included prerequisites such as criteria for participant eligibility, operational procedures for clearing activities and infrastructure requirements necessary for effective system operations. [1]