Regulation Study, Differences and Implementation of Bank Indonesia National Clearing System Services (SKNBI) And Payment Clearing Services (LKP) In Indonesia

ABSTRACT : This study explores the regulatory frameworks, operational mechanisms, and implementation of the national clearing systems in Indonesia, specifically focusing on the Bank Indonesia National Clearing System (SKNBI) and the Payment Clearing Service (LKP). Efficient and secure payment systems are vital for economic stability, with clearing serving as a primary mechanism for the swift and safe settlement of interbank receivables and payables. The research employs a comparative analysis to examine the regulations, operational procedures, and legal aspects of both systems. Findings indicate that although both aim to enhance payment efficiency, differences in regulation and implementation require comprehensive understanding to ensure harmonious integration and support the stability of the national financial system. The study underscores the importance of structured regulation and strict supervision by relevant authorities, such as Bank Indonesia and the Financial Services Authority (OJK), in maintaining trust and stability. Future research will focus on developing more efficient integration models between SKNBI and LKP, evaluating their impact on financial system stability, and exploring innovations to improve transaction speed and security.

KEYWORDS : Banking, Regulation, Kliring, SKNBI, LKP