Bank Indonesia Relaxes Mandatory Reporting and Late Penalties during COVID-19 Pandemic - Bank Sentral Republik Indonesia
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June 01, 2020

No. 22/25/DKom
Bank Indonesia has relaxed mandatory reporting for commercial banks and all other parties required to report to Bank Indonesia, as well as exporters of non-natural resources that are yet to meet the regulations concerning foreign exchange proceeds from exports of non-natural resources. To that end, Bank Indonesia has extended the reporting deadline and suspended penalties for late submission of certain reports. In terms of exporters of non-natural resources, export suspensions have been postponed until the end of September 2020. The measures aim to mitigate and reduce the impact of COVID-19 on banking, business activities, and economic condition.

Reporting deadlines and late submission penalties have been relaxed in accordance with the attached document as well as the postponement of export suspensions, effective from 31st March 2020 until a date yet to be determined.

Bank Indonesia is constantly coordinating with the Government, Indonesian Financial Services Authority (OJK) and other relevant authorities to implement the required policy measures, ensure regulatory compliance and mitigate risks in the national economy.

Jakarta, 31st March 2020
COMMUNICATION DEPARTMENT

Onny Widjanarko
Executive Director

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