JAKARTA, Jan. 23 (Xinhua) -- Indonesian President Prabowo Subianto has announced a new policy requiring exporters to deposit their export proceeds in domestic banks.
The regulation aims to strengthen Indonesia's financial system and ensure that export revenues benefit the national economy.
Speaking at a plenary cabinet session at the Presidential Office on Wednesday, Prabowo emphasized that companies receiving credit from government banks must comply with this policy.
"It is only reasonable and logical that businesses operating in Indonesia and benefiting from funds sourced from the Indonesian people should deposit their proceeds in banks in Indonesia," he said.
"I think it will be out soon and will be effective approximately one month from now. So this is something logical, something that makes sense," he added.
The government believes the new regulation will encourage greater financial stability, enhance the competitiveness of Indonesian exporters, and create a more robust foundation for long-term economic growth. ■