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Back COUNTRY SHEET Republic of INDONESIA No. 107, 2010 BANK INDONESIA REGULATION number: 12/5/PBI/2010 ABOUT CHANGES to the BANK INDONESIA REGULATION number: 10/36/PBI/2008 REGARDING ISLAMIC MONETARY OPERATIONS by the GRACE of GOD ALMIGHTY, the Governor of BANK INDONESIA, Considering: a. that in order to improve the effectiveness of the implementation of the monetary control based on sharia principles, Bank Indonesia need to flesh out the provisions concerning the operation of Sharia in particular regarding the imposition of Monetary sanctions against Islamic monetary operations transactions declared null and void;
b. that based on considerations as referred to in letter a, need to make changes to the regulation of Bank Indonesia Sharia Monetary operations;
Remember: 1. Act No. 11 of 1999 on Bank Indonesia (the State Gazette of the Republic of Indonesia year 1999 Number 66, an additional Sheet of the Republic of Indonesia Number 3843) as last amended by Act No. 6 of 2009 about the determination of the Replacement Government Regulations Act No. 2 of 2008 About the second amendment in the Law Number 23 of 1999 on Bank Indonesia into law (State Gazette in 2009 Indonesia number 7 Additional Sheets, the Republic of Indonesia Number 4962);
2. Act No. 21 of 2008 about Islamic banking (State Gazette of the Republic of Indonesia Year 2008 Number 94, an additional Sheet of the Republic of Indonesia Number 4867);
3. Act No. 19 of 2008 concerning Shariah-compliant Securities State (State Gazette of the Republic of Indonesia number 70 in 2008, an additional State Gazette Number 4852);
Decide: define: BANK INDONESIA REGULATION CONCERNING CHANGES to the REGULATION of BANK INDONESIA No. 10/36/PBI/2008 REGARDING ISLAMIC MONETARY OPERATIONS.
Chapter I the provisions of article 18 paragraph (1) letter b of the regulation of Bank Indonesia No. 10/36/PBI/2008 regarding Islamic Monetary Operations (Gazette of the Republic of Indonesia Number 197 in 2008, an additional Sheet of the Republic of Indonesia Number 4944) changed so that Article 18 reads as follows: article 18 (1) in the case of transactions OMS declared void as stipulated in article 17 paragraph (2), the relevant OMS Attendees penalized in the form : a. a written reprimand; and b. the obligation of paying of 0.01% (one per ten thousand) of the nominal value of the transactions of monetary Operations of Sharia which is void, at least Rp RP 10,000,000 (ten million dollars) and most of Rp RP 100,000,000 (one hundred million rupiah).
(2) by not reducing the sanctions referred to in paragraph (1), in which case Participants OMS Transact OMS stated cancel three times within a period of 6 (six) months, OMS Attendees penalized in the form of suspension to follow the activities of the OMS for 5 (five) working days in a row.
Article II of the regulation of Bank Indonesia began to take effect on the date set.
In order to make everyone aware of it, ordered the Bank Indonesia Regulations enactment this by its placement in the State Gazette of the Republic of Indonesia.
Established in Jakarta on August 30, 2010 caretaker GOVERNOR of BANK INDONESIA DARMIN NASUTION, Enacted in Jakarta on August 30, 2010 the MINISTER of LAW and HUMAN RIGHTS Republic of INDONESIA, PATRIALIS AKBAR fnFooter ();
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