ELECTRONIC CLEARING SYSTEM IN INDONESIA

Common sense is the exchange clearing slips or electronic financial data between banks on behalf of the Bank and the customers who completed the calculation results at any given time. Clearing in Jakarta was initially carried out manually. But in its development, in line with the increase in transactions of the national economy, especially in Jakarta where at the end of 1989 the volume of scrip has reached 82,052 pieces per day by the number of bank certificate of participants reached 613 banks. This leads to clearing manually perceived to be ineffective and inefficient again and clearing the atmosphere of frenzied meetings often likened to the atmosphere of "bird markets."

Seeing these conditions, the Board of Directors of Bank Indonesia by SKBI No. 21/9/KEP/DIR dated May 23, 1988, and then sets out to change the local clearing system in Jakarta from manual systems into automated clearing system. However only on June 4, 1990 can be implemented automated systems to process the transfer clearing. As for the refund clearing process still done manually, until later in 1994 be replaced with semi-automation system that became known as SOKL.

In 1996 the average volume of clearing Jakarta reached 216,911 pieces per day, with an average pertumbuhahan within three years of about 6%. This causes increased pressure in the process of clearing activity in both the participating banks at Bank Indonesia and the limited ability of existing means of clearing compared to the increase in the amount of clearing. In turn, these constraints led to delays in settlement and clearing of information provision. This potentially reduces public confidence in the banks and other institutions related harm and negative effects chain (systemic risk)

Accordingly, as the principal reference for the development of the national payment system (the Blue Print National Payment System Bank Indonesia, 1995) which among others includes the vision, policy framework and the steps that need to be developed in creating a national payment system more effective, efficient, reliable and safe, then in 1996 the concept of local clearing electronically with image technology was developed by Affairs Accounting and Payment System Bank Indonesia. On September 18, 1998, Bank Indonesia recorded a new history in the field of payment systems in which for the first time in Indonesia inaugurated the use of Electronic Clearing System (SKE) by the Governor of Bank Indonesia, DR. Syahril Sabirin. Application of SKE was conducted on the Local Organizing Klring Jakarta, where at the beginning of implementation, the number of participants who took part are still limited 7 banks clearing participant (BRI, BDN, BII, BCA, Deutsche Bank, Standard Chartered, Citibank) and 2 internal participants from Bank Indonesia ( Accounting Section Accounting Section Thamrin and the City). The participation of bank offices in the Electronic Clearing done in stages in accordance with the technical readiness of each participant. For the office of bank offices that have not become members of the Electronic Clearing, the clearing calculation still use the automated clearing system. Implementation of Electronic Clearing thoroughly to all participants of clearing in the new Jakarta was held on June 18, 2000