The bylaws implementation is officially started today," Deputy Governor of Bank of Indonesia Ronald Waas said.
Jakarta (ANTARA News) - The Deputy Governor of the Central Bank, Bank of Indonesia, Ronald Waas inaugurated the implementation of National Inter-Bank Money Transactions (TUKAB) bylaws for 120 Indonesian commercial banks here Wednesday.

The bylaws implementation is officially started today," said Ronald Waas in the signing ceremony and inauguration of the Bylaws` Implementation at the Indonesian Central Bank building.

Ronald said that based on the national inter-bank transaction bylaws cash-strapped banks (in short position) can not withdraw money in certain denominations in Bank Indonesia as long as there are still banks with excess money in the same denominations (in long position).

"Banks that is in a short position is required to perform money transactions with banks that are in the long position," he said.

This will shorten money distribution. The agreement is expected to increase synergy among banks to improve effectiveness and efficiency of money management.

Previously, banks with a long position must deposit their money in the central bank first before distributing it to the banks in short position which is a long process.

"Now banks in short position only have to report to the central bank and will be referred to banks in long, so we are trying to cut the processes," he said.

Ronald said that in order to cope with the increasing flow of money from year to year, the central bank has implemented regulations on rupiah deposits and withdrawals by banks. Therefore banks are encouraged to perform the TUKAB.

Meanwhile, to make the bylaws implementation to run smoothly, safely, uniformly and optimally, the central bank has facilitated banks to formulate unified regulations.

The central bank has now also implemented distribution-worthy rupiah payouts for payments from banks that have not been calculated in detail to the same or different banks within in one area (dropshot).

"This mechanism will be developed and implemented within the central bank`s inter-regional working area, to cover all over Indonesia," he said.

Ronald said that the central bank expects good cooperation with banks throughout Indonesia, to improve the public service in terms of availability of money in decent condition, as needed, and timely. (*)

Editor: Heru Purwanto
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