PADG 31/2026 Updates the Provisions on the Implementation of Central Banking Services

Introduction

On 30 September 2026, Bank Indonesia issued Regulation of the Members of the Board of Governors Number 31 of 2026 on the Implementation of Central Banking Services (“PADG 31/2026”), which will come into force on 31 December 2026. PADG 31/2026 implements Bank Indonesia Regulation Number 23/15/PBI/2021 on Central Banking Services, which aims to provide the basis and guidelines for the implementation of central banking services and to fulfil the principles of good governance, namely independence, consistency, coordination, accountability, and transparency.

The issuance of PADG 31/2026 is based on the results of an evaluation of developments in business processes and the need to align the provisions on central banking services with the provisions governing participation in Bank Indonesia’s payment systems and financial market infrastructure. These adjustments cover the parties eligible to apply to become Customers, the application process for becoming a Customer, changes to Customer data, and the application process for Services. In addition, these provisions support Bank Indonesia’s role as the Government’s treasury holder and the performance of its duties in the fields of monetary policy, macroprudential policy, payment systems, and rupiah currency management through a centralised, integrated, and unified information system. In connection with these adjustments, PADG 31/2026 revokes and replaces Regulation of the Members of the Board of Governors Number 23/18/PADG/2021 on the Implementing Provisions for Central Banking Services.

Comparison

PADG 31/2026 revokes and replaces in its entirety Regulation of the Members of the Board of Governors Number 23/18/PADG/2021 on the Implementing Provisions for Central Banking Services, with the following details:

Key Provisions

Who May Become a Customer

Article 6 establishes five criteria for becoming a Bank Indonesia Customer, namely:

1. being required under laws and regulations;

2. having a connection with Bank Indonesia’s duties in the monetary field;

3. having a connection with the fields of macroprudential policy, payment systems, and rupiah currency management;

4. having a bilateral, regional, or multilateral international cooperation relationship with Bank Indonesia; and/or

5. having a connection with the performance of Bank Indonesia’s duties and functions.

Application Procedures and Documents for Becoming a Customer

Article 9 stipulates that applications to become Customers must be submitted through the Licensing Front Office (FO Perizinan) on a paperless basis via Bank Indonesia’s licensing application after the prospective Customer has obtained access rights. Furthermore, Article 11 requires prospective Customers to submit an application letter in the format set out in Appendix I, signed by the Management, accompanied by the required supporting documents, and uploaded through the application. Specifically, for new banks, the required supporting documents include:

• the deed of establishment and the decree of approval issued by the Ministry of Law;

• the business licence;

• the results of the fit-and-proper assessment of the Management;

• a notification letter concerning the Management’s authority and the Taxpayer Identification Number (NPWP);

• the identity documents of the Management;

• an application for the preparation of signature specimens, together with Customer and Management data; and

• a statement letter if there are discrepancies in the names or signatures of the Management across the submitted documents.

Examination, Rectification, and Rejection

Articles 13 to 15 stipulate that Bank Indonesia shall examine the completeness, administrative accuracy, and substantive accuracy of application documents within a maximum of 7 business days and may request additional documents and/or original documents. If any deficiencies or discrepancies are identified, the prospective Customer must submit all corrected documents at once within a maximum of 14 business days from the date the notification is issued. The application will be rejected and the process terminated if the rectifications are not submitted within that period or if the corrected documents still fail to meet the requirements. If an application is rejected, the prospective Customer may submit a new application after 20 business days by submitting a new application letter in accordance with Article 15 paragraphs (6) and (8).

Signature Specimens and Approval

Articles 16 to 19 stipulate that, once the application documents have been declared complete and accurate, the Management must provide signature specimens and submit specimen cards within a maximum of 21 business days. Failure to fulfil this obligation within the prescribed period will result in rejection of the application. Signature specimens must be prepared before a Bank Indonesia official at the head office, either in person or virtually, in accordance with Article 100 and its Elucidation. Once the signature specimens have been verified as correct, Bank Indonesia shall grant approval within a maximum of 5 business days. The approval shall specify the Customer’s name, the Customer Information File (CIF) number as the Customer’s unique identification code, the effective date, and the Customer’s Management. After obtaining approval, the Customer may apply for access to the Bank Indonesia Service Application (ALBI) in accordance with Article 20.

Changes to Customer Data and Closure of Customer Status

Articles 21 to 26 stipulate that changes to a Customer’s identity that affect the Customer Information File (CIF) number, or changes to the Management’s data, require approval from Bank Indonesia through the Bank Indonesia Service Application (ALBI), supported by an application letter in the format set out in Appendix VII and supporting documents. Other data changes, such as changes to the Customer’s name and address, need only be reported through ALBI. This process includes a review deadline of 7 business days, a document rectification period of 14 business days, and a period of 21 business days for submission of new Management signature specimens, where required.

Articles 29 to 31 establish that Customer status is classified as either active or closed. Closure may be requested by a Customer in connection with a merger, consolidation, separation, self-liquidation, or other reasons approved by Bank Indonesia. Bank Indonesia may also close a Customer’s status if the Customer has not submitted a Service application for 6 months, has not used any Services for 18 months, or has been sanctioned by an authority. Closure may only be effected after all of the Customer’s obligations in respect of each Service have been settled.

Central Banking Services: Current Accounts, L/C Transactions, and Sub-Registry

Article 45 divides Central Banking Services into three types, with the following application procedures and requirements:

Participation Services

Articles 87 to 95 govern applications, changes to data, and changes to participation status in BI-ETP, BI-SSSS, BI-RTGS, SKNBI, and BI-FAST. Applications must be submitted through ALBI using the formats and documents prescribed by Bank Indonesia’s provisions on participation and BI-FAST, following the same deadline framework as Central Banking Services. Rejected applications may only be resubmitted after 20 business days (Article 88 paragraph (9)).

Transitional Provisions

Article 108 stipulates that applications to become Customers, applications to change Customer data or status, and applications to obtain Services, change Service data, or change the status of Central Banking Services and/or Participation Services that were submitted and received by Bank Indonesia before this Regulation of the Members of the Board of Governors (PADG) comes into force shall continue to be processed in accordance with the provisions of PADG Number 23/18/PADG/2021 dated 13 September 2021 on the Implementing Provisions for Central Banking Services.

Conclusion

PADG 31/2026 updates the procedures for implementing central banking services by adjusting Customer eligibility criteria, simplifying documentary requirements, clarifying deadlines for the examination and rectification of applications, and providing more detailed provisions governing Central Banking Services and Participation Services. The Regulation also clarifies the mechanisms for changing Customer data and closing Customer status, including the criteria for inactive Customers, and strengthens the use of the Bank Indonesia Service Application (ALBI) in service administration processes. Prospective Customers and existing Customers must ensure compliance with documentary requirements, the authority of the Management, and the prescribed deadlines so that applications and the use of services can proceed in accordance with the applicable provisions.