10/17/2016

Bank of Indonesia Expands and Increases Digital Financial Service

Bank of Indonesia Expands and Increases Digital Financial Service


Central bank of indonesia(BI) published the regulation to maximize the ease of digital financial service. The primary regulation of financial digital service that was released two years ago being strengtehend to expand the use of digital service for finance massively in society. There are two important points which are enlarging the access of finance and also increasing the security of the use for the society.

The regulation released comprises management of expansion of banks organizers of financial digital services, self registration, bulk registration, the experiment for the release of electronic money likewise the maximum limit of electronic money registered.

The increasing of the ease is meant to enlarge the access of society toward financial services and transaction security as well as the program of distribution relief of social programs of government.
BI points out the organizers for financial digital services which are commercial banks based on business acitivity(BOOK ) and regional development bank BOOK 1 and 2. For the information, previously only BOOK IV is allowed as organizer for financial digital service.

BI also set the maximum limit for electronic money registered from Rp 5 to Rp 10 million while for relief aid, bulk registration is allowed and introduction of service users.

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