ANNOUNCED AS TEMPORARYNo
Controls on credit operations
On 6 April 2016, the Indonesian National Bank ("Bank Indonesia") published the Circular Letter No. 18/5/DSta restricting the foreign exchange revenues from offshore loans.
With the new provisions in place, Indonesian companies will have to deposit their revenues made in foreign exchange from offshore loans in a foreign exchange bank. The regulation also covers debt securities and differences made through refinanced loans. Furthemore, the foreign exchange loans will have to be reported with Bank Indonesia.
The regulation came into force on the day of its announcement.
⚑ Please report this page in case you detect an inaccuracy in its content.