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View all search resultsBank Indonesia to cease operations for Christmas holiday
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New faces in the wallet: Bank Indonesia Governor Agus Martowardojo shows off new rupiah banknotes after their launch on Monday. (Antara/Yudhi Mahatma)
B
ank Indonesia (BI) will cease operations the day after Christmas following the government's announcement that Dec. 26 will be a “collective leave” day.
The central bank will not hold any BI Real Time Gross Settlement (BI-RTGS), BI Scripless Securities Settlement System (BI-SSS), national clearing system, cash services and banking rupiah and foreign exchange (forex) monetary operation transactions on Dec. 26, according to an official letter circulated on Wednesday.
BI will resume business from Dec. 27 to Dec. 31 to facilitate the government's year-end activities as well as the tax amnesty redemption payments.
The second phase of the tax amnesty will conclude on that day, which will also serve as the deadline for fund repatriation from the first and second stages.
On Dec. 31, BI will also extend the period of RTGS transactions for state revenue transfers from perception banks, which receive penalty fee payments from tax amnesty participants, to the government's account at the central bank, by 30 minutes. The service normally ends at 4:30 p.m. on regular days. (hwa)
