Founded on July 5, 1946, PT Bank Negara Indonesia (Persero) Tbk., (BNI) is the first state-owned bank established after Indonesia’s independence. During the struggle for Indonesia’s independence, BNI had once served as both the central bank and a commercial bank, as stipulated in Government Regulation in Lieu of Law No. 2/1946, before transitioning to a strictly commercial bank in 1955. Oeang Republic of Indonesia or ORI, which was the first legal tender issued by the Government of Indonesia on October 30, 1946, was printed and circulated by BNI. Following the appointment of De Javasche Bank – a legacy of the Dutch Government – as central bank in 1949, the Government limited BNI’s role as a central bank. BNI was subsequently converted to a development bank, and in 1950 was granted the right to operate as a foreign-exchange bank with direct access to international transactions.