Indonesia expands bank access under export proceeds policy
Qualifying mining exporters must deposit at least 30 per cent of proceeds for at least three months, with private and foreign-backed banks now among the options.
Indonesia has authorised 11 private and foreign-backed banks to receive deposits under its natural-resource export earnings policy, adding to five state-owned lenders. Coordinating Minister for Economic Affairs Airlangga Hartarto announced the expanded arrangements in Jakarta on November 13.
Government Regulation Number 21 of 2026 sets a minimum deposit of 30 per cent of export proceeds for qualifying mining exporters, to be held for at least three months. It applies to Indonesian mining companies with an equity stake of at least 10 per cent held by investors from designated countries or regions.
The designated investor origins are the United States, Canada, China including Hong Kong, Australia, South Korea, Japan and the European Union. Banks newly authorised include Standard Chartered, Deutsche Bank, MUFG, HSBC, ICBC, JPMorgan, Citibank and OCBC NISP. The state-owned options are BRI, Bank Mandiri, BNI, BTN and BSI.
Planned amendments would widen the range of eligible business entities and allow recognition of indirect ownership through ultimate beneficial owners.
Separately, the government is setting up PT Danantara Sumberdaya Indonesia (PT DSI) as the sole intermediary governing coal, vegetable oil and ferroalloy exports. Its NADI portal will link to customs systems, including CEISA and the Indonesia National Single Window (SINSW), for PT DSI to check and approve export documentation.
Exporters must route compliance documents through NADI, but commercial dealings will stay between private parties. The government targets mid-November 2026 for completing regulatory amendments, November 15 for starting system tests and December 15 for a limited trial. Full portal operations are targeted for January 1, 2027.
