BI Issues Bill on Sharia Hedging

Translator

Editor

Kamis, 1 Januari 1970 07:00 WIB

A logo of Bank Indonesia is seen at a Bank Indonesia building in Jakarta, November 18, 2015. REUTERS/Garry Lotulung

TEMPO.CO, Jakarta - Bank Indonesia yesterday issued a regulation on sharia hedging. The rule, registered as PBI No.18/2/PBI/2016 on Hedging Based on Sharia Principles, is the materialization of the National Sharia Board (DSN) Fatwa no.96.


BI spokesman Tirta Segara said the rule is aimed at maintaining the stability of the rupiah.


"The issuance of this instrument aims to provide a sharia option in mitigating the risk of exchange rates changes," he said in a press release yesterday, March 2.


Under this rule, a sharia bank customer can apply for hedging to a sharia bank. Meanwhile, a sharia bank can apply for hedging to fellow sharia banks or to conventional banks using a sharia scheme.


The BI rule stipulates that the parties that can hedge exchange rates using sharia principles are sharia banks, sharia business units, and conventional commercial banks.


BAGUS PRASETIYO | ABDUL MALIK




Banking and FinanceBank Indonesia

Related News

Sri Mulyani: Rupiah Weakens, Still Better Than Baht and Ringgit

1 hari lalu

Sri Mulyani: Rupiah Weakens, Still Better Than Baht and Ringgit

Finance Minister Sri Mulyani Indrawati said the rupiah exchange rate depreciated by 2.89 percent year-to-date (ytd) in the first quarter of this year.

Read More

BRI Claims to Bag Permit for Alipay Collaboration

4 hari lalu

BRI Claims to Bag Permit for Alipay Collaboration

Bank Indonesia admitted to having yet to receive the application for a formal permit from Alipay.

Read More

BI Comments on Alipay Operating Plan in Indonesia

9 hari lalu

BI Comments on Alipay Operating Plan in Indonesia

Bank Indonesia (BI) responds to issues of fintech giant Ant Group's plan to operate its Alipay payment in Indonesia.

Read More

Bank Mandiri Says BI Rate Hike Important Amidst Global Uncertainties, Fluctuations

10 hari lalu

Bank Mandiri Says BI Rate Hike Important Amidst Global Uncertainties, Fluctuations

State-owned Bank Mandiri (IDX: BMRI) reacted well to Bank Indonesia's (BI) decision to raise its benchmark interest rate.

Read More

Bank Indonesia Raises Key Interest Rate to 6.25% to Bolster Rupiah Stability

10 hari lalu

Bank Indonesia Raises Key Interest Rate to 6.25% to Bolster Rupiah Stability

Bank Indonesia has finally raised its benchmark interest rate to 6.25 percent.

Read More

Bank Indonesia Ensures Rupiah Stability is Maintained

15 hari lalu

Bank Indonesia Ensures Rupiah Stability is Maintained

Bank Indonesia (BI) ensures rupiah stability in anticipation of the impacts of global uncertainty.

Read More

BI: Indonesia's External Debt Remains Under Control in February 2024

15 hari lalu

BI: Indonesia's External Debt Remains Under Control in February 2024

BI said Indonesia's external debt (ULN) in February 2024 remained under control, Antara reported.

Read More

Bank Indonesia: 176,000 People Exchanged Banknotes Ahead of Eid

25 hari lalu

Bank Indonesia: 176,000 People Exchanged Banknotes Ahead of Eid

Bank Indonesia (BI) recorded new money exchange volume reaching Rp1.13 trillion as of April 3, a week before Eid.

Read More

Spot the Spoof; Here's How to Detect Fake Rupiah Notes

26 hari lalu

Spot the Spoof; Here's How to Detect Fake Rupiah Notes

There is a foolproof way to distinguish real rupiah from counterfeit one called 3D (Dilihat, Diraba, Diterawang). Check here for the details.

Read More

Bank Indonesia to Start Office in IKN Starting August 17

45 hari lalu

Bank Indonesia to Start Office in IKN Starting August 17

Bank Indonesia will have its office in the Nusantara Capital City (IKN) starting August 17, 2024, according to BI Governor Perry Wijaya.

Read More

Recomended