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View all search resultsRiau Islands urges forex traders to sustain transactional stability
The governor has called on local businesses engaged in foreign exchange trading to exercise integrity so as to maintain investment and tourism flows into the strategic border region.
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A teller holds US$100 banknotes atop bundles of Rp 100,000 banknotes in this file photo taken on May 15, 2025 at a money changer in Jakarta. ( Antara/Muhammad Adimaja)
With Batam’s economy booming and cross-border cash flows surging, the Riau Islands administration has called on foreign exchange (forex) businesses to strengthen ethics and compliance to safeguard the province’s reputation as Indonesia’s international gateway bordering Malaysia and Singapore.
According to data from Statistics Indonesia (BPS), the province’s economy expanded by 7.48 percent in 2025, outpacing the national average of 5.1 percent. Much of this growth was driven by trade, investment and cross-border spending by travelers from Singapore and Malaysia.
Deputy Governor Nyanyang Haris Pratamura said at the weekend that healthy and transparent financial transactions were vital to maintaining investor confidence and sustaining growth in the tourism-driven province.
“Economic activities are very high in the Riau Islands, so the role of money changers is very important for smooth and secure transactions,” Nyanyang said in his opening remarks at the regional conference of the Foreign Exchange Traders Association (APVA) in Batam.
He urged APVA’s Riau Islands chapter to act as both a professional forum and a strategic partner in shaping provincial financial policy, especially amid the rapid rise of fintech-based trading and remittance services.
Authorities say closer coordination between the local government, Bank Indonesia (BI) and licensed forex operators is crucial as border trade and remittance flows accelerate. The deputy governor also stressed the need for better enforcement against unlicensed operators that could damage Batam’s image as a clean investment zone.
