BI branches to use RTGS system

JAKARTA (JP): Bank Indonesia's branches in Surabaya, Yogyakarta and Semarang will soon be using the new interbank settlement system called Real Time Gross Settlement (RTGS), which will allow for more efficient and safer interbank payments, the central bank said on Thursday.

"In early August, we will launch the RTGS system in Yogyakarta and Semarang," Bank Indonesia deputy director Aulia Pohan said, adding that Surabaya will be added to the list later.

He said more cities would soon follow suit, including Manado, Balikpapan, Samarinda, Denpasar, Medan, Padang, Pekanbaru and Batam.

The new system, Aulia said, was in line with the central bank's emphasis on swift, efficient and safe interbank payments.

He added that the old payment system, the netting system, would still be available as an alternative system.(44/bkm)