JAKARTA (Yosefardi) – Central bank, Bank Indonesia (BI), plans to issue new regulation for real time gross settlement (RTGS) multy currency this year, part of efforts to enter the South-east Asia Economic Community (SAEC) by 2015 and SAEC financial regime by 2020.
Rosmada Hadi, BI’s official, said the central banks in South-east Asia have formed 5 task forces for preparing payment system.
That 5 task forces will engage on cross border trade settlement, cross border retail payment, cross border money remittance, cross border capital market settlement, and cross border standarization.
Bank Indonesia leads task force for cross border retail payment. In Indonesia, RTGS transaction is growing. In 2013, the transaction reached 365 trillion per day.