PT Bank Mandiri (Persero) Tbk will facilitate the new local-currency settlement framework between Indonesia and Singapore.
The initiative launches on September 1, 2026.
Bank Indonesia and the Monetary Authority of Singapore established the framework to promote the use of the Indonesian rupiah and Singapore dollar.
The agreement covers bilateral transactions, including trade and direct investments.
This system reduces currency exchange rate risks for regional businesses. It also lowers transaction costs for participants in both countries.
Bank Mandiri will operate as an Appointed Cross-Currency Dealer (ACCD). This role supports international trade and investment flows for Indonesia.