Client Newsletter – New Bank Indonesia Regulation on Electronic Money – A Game Changer?
Bank Indonesia (“BI”) issued Bank Indonesia Regulation No. 20/6/PBI/2018 on Electronic Money (“PBI 20/2018”) on 4 May 2018, replacing in its entirety BI Regulation No. 11/12/PBI/2009 on Electronic Money and its amendments (“PBI 11/2009”). This long-awaited piece of regulation is expected to break the silence from BI on the issuance of new electronic money (“e-money”) licenses and give new hope for bringing in an influx of market players, development and innovation to the industry.
Please see our newsletter on this here.