TEMPO.CO, Jakarta - Indonesia's Financial Services Authority (OJK) is readying incentives to help enhance foreign exchange proceeds (DHE) from exports of natural resources.
"Besides supervision, OJK is supporting the policy by rolling out a number of incentives," said OJK Board of Commissioners chair Friderica Widyasari Dewi in Jakarta on Thursday, May 21, as quoted from Antara.
Foreign exchange proceeds from natural resource exports can be used as cash collateral with certain prerequisites, as outlined in OJK regulations regarding the asset quality of commercial banks, including conventional banks, sharia banks, and sharia business units.
OJK will also provide maximum credit limit (BMPK) relaxation, which may exempt collaterals under foreign exchange proceeds from natural resource exports.
Friderica said these incentives are part of OJK's support to ensure the implementation of Government Regulation (PP) No. 21 of 2026 still provides room for banks to support the financing needs of the business world without neglecting prudential principles.
"As a follow-up, we will issue circular to all boards of directors across all commercial banks informing OJK's support for the regulation, including providing data required by relevant ministries and agencies," she said.
Cordinating Minister for Economic Affairs Airlangga Hartarto previously explained that the new regulation is aimed at bolstering investment and natural resource export performance to support the stability of the macroeconomy and domestic financial markets.
The main provision is that natural resource exporters are required to deposit 100 percent of their foreign exchange proceeds into the Indonesian financial system or repatriate them with a 100 percent compliance rate
He explained that natural resource exporters are required to place DHE with a minimum retention of 30 percent for the oil and gas industry and 100 percent for the non-oil and gas industry in a special account in the Indonesian financial system.
The placement is for a minimum of three months for the oil and gas sector and 12 months for the non-oil and gas sector.
Furthermore, the inflow or repatriation of DHE retention placement for natural resources must be made through Himbara (State-Owned Banks Association) banks.
The government is also expanding the exemption for DHE placement at non-Himbara banks, particularly for the oil and gas and non-oil and gas mining sectors originating from trading partner countries that have trade cooperation agreements or memorandums of understanding with Indonesia.
The minister explained that exporters from partner countries that have signed bilateral agreements can place a DHE retention of 30 percent for three months in non-Himbara banks. In addition, the government has lowered the conversion limit for foreign exchange export proceeds into rupiah from 100 percent to 50 percent.
Read: Indonesia Drafts Technical Rules for Strategic Commodity Exports
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