SHEET COUNTRY
REPUBLIC OF INDONESIA
BANK INDONESIA RULES
NUMBER: 12 /17/PBI/2010
ABOUT
CHANGES TO INDONESIA ' S BANK REGULATIONS
NUMBER: 10 /36/PBI/2008
ABOUT SHARIA MONETARY OPERATIONS
WITH THE GRACE OF THE ALMIGHTY GOD,
GOVERNOR OF THE BANK OF INDONESIA,
Weigh: a. that in order to increase the effectiveness of the implementation of monetary controls based on the principle of sharia, Bank Indonesia needs to fine-tune the provisions concerning the Shariah Monetary Operations in particular regarding the imposition of sanctions against operating transactions The declared monetary sharia cancelled;
B. that based on the consideration as referred to in the letter a, it needs to make changes to the Bank of Indonesia Regulation on the Monetary Operations of Sharia;
Considering: 1.
Act Number 23 Year 1999 about Bank Indonesia (State of the Republic of Indonesia Year 1999 No. 66, Additional Gazette Republic of Indonesia Number 3843) as amended last with Law No. 6 Year 2009 on Establishing Government Regulation Replacement Rule Number 2 Year 2008 About the Second Amendment to the 1999 Act No. 23 on the Bank of Indonesia Being an Act (Republic of State Sheet) Indonesia Year 2009 Number 7, Additional Gazette of the Republic of Indonesia No. 4962);
2.
Act No. 21 of 2008 on Sharia Banking (State Sheet of the Republic of Indonesia 2008 No. 94, Additional Gazette of the Republic of Indonesia Number 4867);
3.
Act Number 19 of 2008 on the Valuable Letter Of State Sharia (sheet Of State Of The Republic Of Indonesia 2008 Number 70, Extra State Sheet Of Number 4852);
DECIDED:
Establish: INDONESIAN BANK REGULATIONS ON CHANGES TO INDONESIA ' S BANK REGULATIONS NUMBER 10 /36/PBI/2008 ABOUT SHARIA MONETARY OPERATIONS.
Section 1
Provisions of Article 18 paragraph (1) letter b Ordinance Bank Indonesia No. 10 /36/PBI/2008 on the Monetary Operations of Sharia (Indonesian Republic of Indonesia 2008 Number 197, Additional Gazette of the Republic of Indonesia No. 4944) were amended so that Article 18 reads as follows:
Section 18
(1) In the case of the transaction the OMS is declared null and void, the OMS participant in question is sanctioned in this section:
a. written reprimand; and
B. Liabilities pay up 0.01% (one per ten thousand) of the nominal value of Syariah Monetary Operations transactions, at least as much as Rp10,000.00 (ten million rupiah) and at most Rp100.000.00 (one hundred million rupiah).
(2) By not reducing the sanctions as referred to in paragraph (1), in the case of the OMS Participant doing the unannounced OMS transaction three times in a period of 6 (six) months, the OMS Participant is charged with a temporary halt to follow the activities of OMS for 5 (5) consecutive business days.
Section II
This Bank of Indonesia Regulation is beginning to apply at the designated date.
In order for everyone to know, order the invitational of the Bank of Indonesia Regulation with its placement in the Republic of Indonesia State Sheet.
Set in Jakarta
As of August 30, 2010
Pjs. INDONESIAN BANK GOVERNOR,
DARMIN NASUTION
Promulgated in Jakarta
As of August 30, 2010
MINISTER OF LAW AND HUMAN RIGHTS
REPUBLIC OF INDONESIA,
PATRIALIST AKBAR
