No. 14/ 26/PSHM/Humas
Heading towards Eid 1433 H/2012, Bank Indonesia (BI) has tailored the cash and non-cash payment systems to service the needs of the general public. A number of measures have been undertaken in order to meet the requirement for cash, including optimizing the availability and distribution of cash at Bank Indonesia head office as well as domestic representative offices. As part of the annual cycle, the period of Ramadan and Eid generally witnesses a sharp increase in the demand for cash and the non-cash payment system to meet the transactional needs of the general public.
Bank Indonesia projects the requirement for money (outflow) during Ramadan and Eid 2012 at Rp89.4 trillion, which is up Rp9.1 trillion compared to actual outflow during the same period of the preceding year. The demand for larger banknote denominations (Rp100,000, Rp50,000 and Rp20,000) is forecast at Rp81.1 trillion, with demand for smaller denominations (Rp10,000, Rp5,000, Rp2,000 and Rp1,000 as well as all coins) expected to total Rp8.3 trillion. The availability of this money is anticipated to adequately cover the projected requirement for Ramadan and Eid 1433 H, both in terms of the total and the total per denomination.
The infrastructure and service of the non-cash payment system have also been prepared in anticipation of the predicted increase in non-cash payment transactions (RTGS, Clearing), for which transaction volume is expected to increase on average by 13.7% above the daily norm. In addition, fund transfers through the National Clearing System (SKNBI) currently take advantage of a close-to-real-time fund transfer system known as “Si Kilat” (Sistem Kliring Kini Lebih Cepat). To overcome the expected surge in transactions, Bank Indonesia will work closely with the banking community. Furthermore, Bank Indonesia is also prepared to extend its operational hours for as long as necessary.
This year, Bank Indonesia is trying to integrate cash and non-cash payment services in an endeavour to consummate a less-cash society. This concept aims to raise public and retailer awareness to expand their use of card-based payment instruments (APMK), particularly e-money, as an alternative to banknotes and coins, especially the smaller denominations. Consequently, during the time when the mobile cash centre will be located at the National Monument (Monas) on 30th July 2012, it will be possible for members of the general public to exchange money, free of charge, for e-money utilising their existing ATM/credit cards for convenience. This is in harmony with efforts to expand the non-cash payment system as well as provide additional security and expediency for the public when conducting transactions.
Jakarta, 23rd July 2012
Public Relations Group
Difi A. Johansyah