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Keberlakuan peraturan Bank Indonesia Nomor 17/3/PBI/2015 tentang Kewajiban penggunaan rupiah di wilayah Negara Kesatuan Republik Indonesia
In response to Rupiah's weakened exchange rate, Bank Indonesia officially introduced PBI No. 17/3/PBI/2015 on the Obligation to Use Rupiah within the Territory of the Republic of Indonesia, which entered into force on March 31st 2015. In the consideration given in its preamble, the objective of forming such regulation are to
maintain state sovereignty, as well as to maintain the stability of Rupiah. The latter objective shows that the conduct of Bank Indonesia forming PBI No. 1713/PBI/2015 shall be considered as the fulfillment of Bank Indonesia's single objective maintaining the stability of Rupiah through its function as the regulator and supervisor on payment
system policies. The enforcement of PBI No. 1713/PBI/2015, however, leads to several legal issues. One of the issues derived from the enforcement of such regulation is the issue on the supervision. It bears noting that PBI No. 17/3/PBI/2015 distinguishes transactions obliged to use Rupiah as non-cash transactions and cash transactions.
Normatively speaking, there is no major issue on non-cash transactions supervision. Violation towards the obligation to use Rupiah through non-cash transactions can be easily detected through financial and banking records, while having banks as the first gatekeeper. However, the supervision issue lies on violation towards the obligation to
use Rupiah through cash transactions. The sole effort to enforce the obedience of cash transactions towards the obligation to use Rupiah is by forming Memorandum of Understanding between Bank Indonesia, Police of Indonesia, and the Attorney General of Indonesia. This, however, does not give any solution to the issue on supervision. According to the MoU, the supervision on the obedience of cash transactions is solely conducted by Bank Indonesia. Bank Indonesia shall receive reports from the people of Indonesia, in regards with violation towards the obligation to use Rupiah found in public society. Given the huge means PBI No. 1713/PBI/2015 bears, supervision conducted by depending on reports given by the society shall be regarded insufficient. \In conclusion, the legal issue derived on the enforcement of PBI No.
17/3/PBI 2015 lies on the supervision system on cash transactions.
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