to Indonesian
The Unitary State of the Republic of Indonesia as a country of freedom and sovereignty has symbol of State’s sovereignty that must be honored by all citizens of the State of Indonesia. One of the symbols of sovereignty is the Currency. The Currency released by the Unitary State of the Republic of Indonesia is Rupiah. Rupiah is used as legal payment instrument in the economic activities of the nation in order to accomplish social welfare for all the people of Indonesia.
The 1945 Constitution in Article 23B mandates that the kind and value of the Currency is stipulated by the Law. Such stipulation and arrangement are required to provide protection and legal security for such kind and value of the Currency Rupiah as Currency of the Unitary State of the Republic of Indonesia is in fact accepted and has been used since the country proclaimed its freedom.
In history, arrangement of the kind and value of Currency in Indonesia as of the commencement of the freedom, 4 (four) Laws have been established, governing the Currency .The issue of the fourth (4th) Law does not constitute implementation of the mandate of the 1945 Constitution of the State of the Republic of Indonesia, but as implementation of the mandate in Article 109 paragraph (4) of the Temporary 1950 Constitution.
In the economical life of a country, the role of money is very important since money has several functions, such as exchange instrument or payment instrument and value measuring instrument so that one can say that money is one of the principal economical instruments. With money the economy of a country can run smoothly so as to support accomplishment of the objective to have a country, such as to accomplish just and prosperous people. Besides, if one sees specifically from the point of monetary, the amount of money circulating in a country must be managed properly according to the economical need.
Seen from its very important role, money must be seen such a way making it difficult for any irresponsible party to imitate or fake it. Here lies the role of professional authority that is very much in need to determine the characteristic, design, and basic material of Rupiah.
Any crime towards the Currency, especially money faking, so far is becoming outrageous in large scale and is very apprehensive with respect to the impact caused by money faking crime that can threaten the condition of the national monetary and economy.
Money faking at present apparently also creates other crimes such as terrorism, political crime, money laundering, outrageous illegal logging, and human trafficking, either exercised individually, organized, as well inter-countries. And it is even, developing a modus and type of crime against Currency. Meanwhile no provision on money faking criminal action as governed in the Law on Criminal Code is not comprehensively governing yet the type of such action and threatening penalty. Based on such basic perception, it is necessary to govern the type and value of Currency, including penalty in a Law since such thing constitutes a basic requirement.
This Law obliges the use of Rupiah in every transaction for the purpose of payment, settlement of other obligations that must be fulfilled with money, and/or other financial transactions, exercised within the territory of the Unitary State of the Republic of Indonesia. The trust of the Indonesian people on Rupiah will have impact on the trust of international society on the Rupiah and the economy of the nation in general so that Rupiah has an honor, either locally or overseas and stability of the Rupiah is maintained.
This Law also stresses on integrated Management of the Rupiah, commencing from planning of the amount of Rupiah to be printed, Rupiah Printing, Rupiah Release, Rupiah Circulation up to Rupiah Destruction with comprehensive level of supervision so that there is check and balances inter-related parties in order create good governance.
Enforcement of the law relating to crime over Currency, especially faking of Rupiah, needs regulation that gives discouraging effect on the perpetrator due to the crime effect that has worst impact on the economy and honor of the entire nation.. Accordingly, any person that violates the provision of this Law is subject to very serious criminal penalty.
In broad outline the material of the content governed in this Law covers regulation on the physical Rupiah, that is concerning the type and value, characteristic, design, and basic material of the Rupiah; (ii) regulation on Rupiah Management starting from Planning, Printing, Release, Circulation, Revocation and Withdrawal, and Destruction of the Rupiah; (iii) regulation on obligatory use of the Rupiah, exchange of the Rupiah, prohbition, and destruction of Fake Rupiah, and (iv) regulation on provision on crime relating to issue of use, imitation, destruction, and faking of the Rupiah.
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Other than the Rp symbol (Rp is written without fullstop sign), is also known as IDR that constitutes abbreviation of Indonesian Rupiah, usually is used in international trading, exercised both locally and overseas.
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In coordination with as referred to this paragraph is meant to for notification and exchange of information as material for consideration.
In coordination with as intended in this paragraph is meant for notification and exchange of information as material for consideration.
So long the Law on the change of Rupiah value is not enacted yet, no change of Rupiah value may be made.
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Letter a
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Letter b
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Letter c
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Letter d
Signing by the Government shall be represented by the Minister of Finance and signing by Bank of Indonesia shall be represented by the Governor or Bank of Indonesia.
Letter e
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Letter f
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Letter g
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What is meant by “transparent (overt)” shall be safeguarding element that may be detected without using any device.
What is meant by “semi-covered” shall be safeguarding element that may be detected using simple device such as binocular and ultraviolet (UV) ray.
What is meant by “covered/forensic” shall be safeguarding element that may only be detected by using laboratory/forensic tools.
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What is meant by “hero of the nation” shall be a hero as governed in the provisions in the statutory regulation.
What is meant by “front part of the Rupiah” shall be the designed side of the Rupiah where there is the picture of the State emblem of “Garuda Pancasila”.
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What meant by “specific sign” shall cover the color, picture, size, scale, material of the Rupiah, and other signs.
What is meant by “safeguarding element” including therein the characteristic or sign that may be used by the blinds.
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What is meant by “in coordination with” shall be Bank of Indonesia shall notify the technical specification and the characteristic of the basic material of Rupiah to the entity in coordinating the destruction of Fake Rupiah in the effort of preventing and eradicating Fake Rupiah, accordingly the entity in coordinating the eradication of Fake Rupiah may give input on the security aspect of the basic material of the Rupieh to Bank of Indonesia.
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In coordination with as intended in this paragraph is meant for notification and exchange of information as material for consideration.
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What is meant by coordination shall be accomplished in the form of exchange of information between Bank of Indonesia and the Government, such as relating to the assumed level of inflation, assumed economic growth, planning on the type and value of Rupiah, projected amount of Rupiah that need to be printed, and amount of damaged Rupiah and withdrawn from circulation.
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To maintain the quality of security of Rupiah, in the Printing of Rupiah, Bank of Indonesia shall ask for input from the entity that coordinates eradication of Fake Rupiah.
What is meant by “State-owned business entity” shall be State-owned business entity that operates business on Rupiah printing.
What is meant by “incapable to exercise Rupiah Printing” shall be incapability caused by condition of force majeure and social disaster.
What is meant by “competitive value” shall be value which limit is determined based on the statutory regulation on procurement of goods and services.
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Stipulation of Rupiah Revocation covers regulation on the expiry date of the Rupiah as legal payment instrument and the time limit for exchanging the Rupiah to the bank, Bank of Indonesia, or other party appointed by Bank of Indonesia.
Withdrawal of Rupiah covers withdrawal in the context of Revocation and replacement of damaged or crumpled Rupiah.
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In coordination with as intended in this paragraph shall be accomplished in the form of memorandum of understanding between Bank of Indonesia and the Government containing implementation technicality of Destruction of Rupiah, including drawing up of Minutes of Destruction of Rupiah.
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What is meant by “House of the People’s Representatives” shall be complementary instrument of the House of the People’s Representatives in charge of finance and banking.
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Letter a
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Letter b
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Letter c
What is meant by “other financial transactions” shall be among other things, money depositing activity in various amounts and types of fractions from the bank customer.
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What is meant by “crumpled Rupiah” shall be Rupiah which size and physical form is unchanged from the original size, but the condition thereof is changed which is caused by among other things, fungus, oil, chemical substance, or scratch.
What is meant by “damaged Rupiah” shall be Rupiah which size or physical form is changed from the original size which among other things, due to fire, has hole in it, is partly lost, or Rupiah which physical size is different than the original size thereof, is torn or shrinking money.
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What is meant by “destroy” shall be changing the form, or changing the physical size from the original size, such as burning, making hole, eliminating part of, or tearing off.
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In providing elucidation of information and knowledge on the genuinely of the Rupiah, Bank Indonesia may cooperate with other parties.
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To deliver and/or open the electronic data, the Investigating Officer shall do it by providing receipt thereof.
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