Enforcement of Using Rupiah within the Territory of the Republic of Indonesia

The Central Bank of Indonesia issued Regulation No. 17/3/PBI/2015 on the Obligation to use Rupiah within the territory of the Republic of Indonesia (“Bank Indonesia Regulation“) which regulates several provisions, amongst others, that Rupiah is used to settle financial obligations and other payment transactions conducted in Indonesia, both cash and non-cash transactions. On top of…