JAKARTA - In an official statement received in Jakarta on Wednesday, the Executive Director of the BI Communication Department, Erwin Haryono, explained that the adjustment of BI's operational activities refers to the Joint Decree (SKB) of the Minister of Religion, the Minister of Manpower, and the Minister for Administrative Reform and Bureaucratic Reform of the Republic of Indonesia Number 624 of 2023 and Number 2 of 2023 which was issued on June 16, 2023.
Quoted from ANTARA, Wednesday, June 27, as a result of these adjustments, the operational activities of the Bank Indonesia Real Time Gross Settlement (BI-RTGS) system, Bank Indonesia Script Securities Settlement System (BI-SSSS), and Bank Indonesia Electronic Trading Platform (BI-ETP) will be terminated on June 28-30, 2023.
In addition, operational activities of the Bank Indonesia National Clearing System (SKNBI), cash services, monetary operations in rupiah currency and foreign currency (varlas), as well as operational activities for the Jakarta Interbank Offered Rate (JIBOR) and Indonesia Overnight Index Average (INDONIA) will also be stopped.
Erwin explained that the rupiah monetary operations and foreign exchange transactions in question include all monetary operating transaction activities in rupiah currency, all foreign exchange monetary operations transaction activities, the issuance of the Jakarta Interbank Spot Dollar Rate (JISDOR) exchange rate, and the issuance of non-dolar US and rupiah reference exchange rates. Therefore, Bank Indonesia exchange rate will use a reference exchange rate on the last working day, namely Tuesday (27/6/2023).
Meanwhile, JIBOR and INDONIA operational activities that will be stopped include the delivery of JIBOR quotas by contributor banks as well as the issuance of INDONESIA, Compounded INDONESIA, INDONIA Index, and JIBOR.
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However, Erwin emphasized that the Bank Indonesia Fast Payment (BI-FAST) system will continue to operate according to the applicable schedule, which is 24 hours a day for seven days a week. And after this adjustment, BI's operational activities will return to their normal schedule entirely on Monday, July 3.
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