Legal Literacy - Exchanging new money is one of the traditions that can be found in most regions of Indonesia. This has become a new business opportunity for some people, namely by providing money exchange services which are generally located on the side of the highway.
This article discusses in depth the phenomenon of exchanging new money on the roadside and how the legal rules apply to this culture based on laws and Islamic law.
The Phenomenon of Exchanging New Money on the Roadside
Exchanging new money has become a routine activity carried out every month of Ramadan or before Eid al-Fitr. This moment is used by new money exchange service providers on the roadside. Their target market is generally people who don't have much time to queue to exchange money at the bank.
Even though there are no specific sanctions for new money exchange service providers on the roadside, the public is still advised to exchange money at official institutions, such as Bank Indonesia, to avoid crimes in the form of giving counterfeit money by irresponsible parties.
The Law on Exchanging New Money on the Roadside Based on Law
In legal terms, the provisions regarding currency exchange are regulated in Article 22 of the Currency Law. In order to meet the need for money in the community in sufficient nominal amounts, types of appropriate denominations, and in suitable condition for…
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