The procedure for opening a bank representative office in Indonesia refers to Decree of Board of Managing Directors of Bank Indonesia No. 32/37 /KEP/DIR, dated 12th May 1999. The salient guidelines of the procedure are as follows: Approval of the Bank Indonesia Board of Governors is required to open a representative office. Any bank that intends to open a representative office in Indonesia should have total assets ranking in the top 300 worldwide, based on a ranking issued by a credible international agency. The application letter must be signed by the Director of the bank and addressed to the Bank Indonesia Board of Governors. The application letter must also mention the reasons for opening a representative office in Indonesia. The application must be accompanied by a softcopy statement showing the total assets of the bank, which must rank in the top 300 worldwide; a letter of assignment from Head Office to the head of prospective representative office in Indonesia; the curriculum vitae of the head of prospective representative office in Indonesia; a letter stating the head of the prospective representative office will work exclusively for the applicant bank (holding no concurrent position at any other company); and a letter stating no objection to open a representative office in Indonesia from the banking authority where the head office is located. An approval/rejection letter in response to the application to open a representative office in Indonesia will be submitted by Bank Indonesia within 30 days after a complete application has been received. With regard to the application process, Bank Indonesia will: 1) verify the completeness and accuracy of the documents; 2) conduct an interview with the head of the prospective representative office. ​

Refer to Bank Indonesia Regulation (PBI) No. 3/3/PBI/2001 concerning Restrictions on Rupiah Transactions and Foreign Currency Credit Offered by Banks and Circular Letter No. 3/5/DPD regarding the same topic. The regulations are available in English on the Bank Indonesia website (www.bi.go.id) under “Regulations” and selecting the year 2001.​

Refer to Bank Indonesia Regulation (PBI) No. 2/27/PBI/2000, dated 15th December 2000, concerning Commercial Banks. This regulation details all required information (e.g. bank licensing, activities, etc). The regulations are available in English on the Bank Indonesia website (www.bi.go.id) under “Regulations” and selecting the year 2000.​

Refer to the “Policy Document” section of the Investor Relations Unit (IRU) website homepage, select the overview of the Banking System to access the data.

Basically, non-residents are eligible to open an account in Indonesia, providing they meet prevailing regulations as well as the general terms and conditions stipulated by the banks. Two regulations in Indonesia relate to banking activities with non-residents, namely: (a) Bank Indonesia Regulation (PBI) No. 3/10/PBI/2001 regarding Implementation of Know Your Customer (KYC) Principles. According to the regulation, Banks are required to maintain prudential principles when accepting new customers. Banks must have access to complete customer information, including identity and source of funds. The banks are also required to monitor the customers’ banking transaction activities and report any suspicious transactions to Bank Indonesia; and (b) Bank Indonesia Regulation (PBI) No. 7/14/PBI/2005 regarding Restrictions on Rupiah Transactions and Foreign Currency Lending by Banks. This regulation restricts Banks from conducting the following transactions with non-residents: (i) foreign exchange selling derivative transactions against the rupiah; and (ii) foreign exchange buying derivative transactions against the rupiah. For a more comprehensive explanation, refer to the regulations on the Bank Indonesia website through the BI Regulation link.​

Bank Indonesia has the sole authority to regulate Indonesian banks. Other financial institutions fall under the authority of the Ministry of Finance.  OJK? List of Banks?​

Information on the monthly government balance is available under the “Economic Data” section on the Investor Relations Unit (IRU) homepage by selecting “Public Finance Statistics”. ​

Bank Indonesia makes separate calculations of Government Domestic Debt and Government External Debt. Refer to the “Economic Data” section on the Investor Relations Unit (IRU) homepage and select “Public Finance Statistic”. From there, “Outstanding Government Debt Statistics” provides data on domestic debt and “Outstanding External Debt Statistics” presents data on government external debt.  ​

Refer to the “Economic Data” section on the Investor Relations Unit (IRU) homepage and select “Public Finance Statistics”. From there, “Outstanding Government Securities” contains information regarding Indonesian Government Sovereign Bonds.  ​

The Investor Relations Unit (IRU) facilitates two-way communication between the Indonesian Government with observers and investors, providing information on the Indonesian economy for the purpose of enhancing the decision-making information available. By providing such information, the IRU contributes to the promotion of overall investment in Indonesia. Notwithstanding, the IRU does not undertake promotional activities that are specific to certain products or sectors. Concerning promotional services, contact the Indonesia Investment Coordinating Board (BKPM) and Ministry of Industry. A complete list of links to government agencies is available from the "Links" tab on the Investor Relations Unit (IRU) homepage.  ​