Regulation on Bank Designation, Exporter Supervision, and Coordination of DHE SDA Policy under PBI 8/2026

Introduction

On 29 September 2026, Bank Indonesia issued Bank Indonesia Regulation Number 8 of 2026 on the Third Amendment to Bank Indonesia Regulation Number 7 of 2023 on Export Proceeds and Import Payment Foreign Exchange (“PBI 8/2026”), which took effect on 30 September 2026. PBI 8/2026 adjusts the provisions governing the repatriation, placement, and use of Export Proceeds from Natural Resources (“DHE SDA”), particularly in connection with the implementation of bilateral trade agreements and other trade-related understandings or agreements.

The issuance of PBI 8/2026 follows up on Government Regulation Number 36 of 2023, as amended several times, most recently by Government Regulation Number 21 of 2026 (“PP DHE SDA”), which governs specific provisions on the management of DHE SDA to support the implementation of Indonesia’s trade commitments with partner countries. These provisions include the obligation to place DHE SDA derived from the mining sector in a Special DHE SDA Account in specified amounts and for specified periods, as well as the placement and conversion of DHE SDA into rupiah through foreign exchange banks. In line with coordination among the Government, Bank Indonesia, and the relevant ministries and agencies, PBI 8/2026 refines the provisions governing bank designation, the basis for supervision, and coordination in policymaking relating to DHE SDA, including to support the application of specific provisions to Export Customs Declarations (“PPE”) as of 1 September 2026.

Comparison

PBI 8/2026 amends certain provisions of PBI 7/2023, as amended by PBI 3/2025 and PBI 5/2026.

Key Provisions

Designation of Banks for the Implementation of Specific Provisions

Article 47A paragraph (1) authorises Bank Indonesia to designate Banks to implement specific provisions relating to bilateral trade agreements or other trade-related understandings or agreements, as stipulated in the laws and regulations concerning DHE SDA. Such designation is based on the criteria established by Bank Indonesia, as provided for in Article 47A paragraph (2).

PBI 8/2026 also introduces Article 47A paragraph (2A), which allows Bank Indonesia to consider input and/or the results of coordination with ministries and/or agencies coordinated by the ministry responsible for synchronisation and coordination, as well as oversight of the implementation of ministerial affairs in the economic sector, when designating Banks**.** The use of the phrase “may consider” indicates that such input and/or coordination results constitute considerations rather than mandatory requirements that must be satisfied in every bank designation. Furthermore, Article 47A paragraph (3) stipulates that the procedures for bank designation, the criteria for Banks, and the designation of Banks for the implementation of specific provisions shall be further regulated in a Regulation of Members of the Board of Governors (“PADG”).

Basis for Bank Indonesia’s Supervision of Natural Resources Exporters

Article 57 paragraphs (1) and (2) stipulate that Bank Indonesia supervises Exporters, Importers, Owners of Goods, Parties to Oil and Gas Contracts, and Banks through indirect supervision and/or examinations. Specifically, with respect to Natural Resources Exporters, supervision covers obligations relating to the repatriation, placement, and utilisation of DHE SDA for the oil and gas mining sector, as well as obligations relating to the repatriation, placement, and utilisation of DHE SDA and compliance with the limits on the percentage of DHE SDA converted into rupiah, as referred to in Article 22A, for sectors other than oil and gas mining (Article 57 paragraph (2A)).

The principal amendment introduced by PBI 8/2026 is set out in Article 57 paragraph (2B), which broadens the basis for supervising Natural Resources Exporters. Supervision may now be conducted on the basis of PPE bearing a natural resources indicator as designated by the ministry responsible for government affairs in the field of state finance and/or a list of Natural Resources Exporters meeting the criteria for the implementation of specific provisions relating to bilateral agreements or other trade-related understandings or agreements. Accordingly, the list of Natural Resources Exporters meeting such criteria may serve as an independent basis for supervision or as a basis for supervision in conjunction with PPE bearing a natural resources indicator.

In conducting supervision, Bank Indonesia is authorised to:

1. request explanations, evidence, records, and/or supporting documents, with or without the involvement of the relevant institutions; and

2. conduct other supervisory activities as determined by Bank Indonesia.

Bank Indonesia Policy Taking into Account Inter-Ministerial and Inter-Agency Coordination

Article 65 authorises Bank Indonesia to adopt policies concerning the repatriation, placement, and utilisation of DHE based on certain considerations, while taking into account:

1. the provisions of the relevant PBI and other laws and regulations; and/or

2. the results of inter-ministerial and/or inter-agency coordination meetings coordinated by the ministry responsible for synchronisation and coordination, as well as oversight of the implementation of ministerial affairs in the economic sector.

Closing

PBI 8/2026 strengthens coordination among government institutions in implementing specific provisions concerning the management of DHE SDA to support bilateral agreements and trade arrangements with partner countries. These amendments are reflected in the provisions governing bank designation, the expansion of the basis for supervising Natural Resources Exporters, and the consideration of the results of inter-ministerial and/or inter-agency coordination meetings in Bank Indonesia’s policymaking.

Business actors, particularly Natural Resources Exporters, should pay close attention to these amendments because Bank Indonesia’s supervisory scope has been expanded to include lists of Natural Resources Exporters meeting the criteria for the implementation of specific provisions. Accordingly, exporters should ensure compliance with their obligations relating to the repatriation, placement, and utilisation of DHE SDA in accordance with the applicable provisions and take note of the further regulations governing the criteria and procedures for bank designation, which will be stipulated in the PADG.