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    Bank of Indonesia (BI) of West Java Recorded 34 Legal KUPVA-BB

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    BANDUNG–Bank of Indonesia (BI) of West Java set the deadline for Non-Bank Foreign Exchange Operations (KUPVA-BB) to obtain business lisence before April 7th 2017. After that, those who did not have business lisence must close their business. 

    Deputy of BI for West Java, Ismet Inono, said that from marketing intelligent result, there are 227 illegal KUPVA-BB.

    "We recorded that there are only 34 legal KUPVA-BB, the rest are still in the middle in obtaining the business lisence, consulting, and illegal," he emphasised in BI of West Java office, Wednesday (5/4).

    According to him, the existence of KUPVA-BB must be legal and coordinate with BI. The reason is because state did not want the business used for criminal activities such as counterfeit money exchange and money laundering. 

    "So, BI affirm that per April 7th 2017 the licenses of KUPVA-BB must be fulfilled," he said.

    He added that if in a region there is no KUPVA-BB or in limited number, the society could exchange the foreign money to bank that included foreign exchange bank (bank devisa). "I think the society can exchange foreign money in bank," he added. jo

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