, Singapore

MAS and Bank Indonesia extends $10b bilateral financial agreement

The two extended the agreement until 4 November 2022.

The Monetary Authority of Singapore and the Bank Indonesia have extended their $10b bilateral financial agreement until 4 November 2022.

The arrangement has been endorsed by Indonesian President Joko Widodo and Singapore Prime Minister Lee Hsien Loong, and aims to support monetary and financial stability in both countries amidst the on-going recovery from the COVID-19 pandemic.

Under the agreement both countries agree to a local currency bilateral swap that allows for the exchange of local currencies between the two central banks of up to SG$9.5b or IDR100t ($7b). The two countries also agree to a bilateral repo agreement of $3b that allows for repurchase transactions between the two central banks to obtain USD cash using G3 Government Bonds as collateral.

The bilateral financing arrangement was first established between the Bank Indonesia and MAS in November 2018. It has been extended annually since.

Follow the link for more news on

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!