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AKARTA: Bank Indonesia (BI) and the Financial Services Authority (OJK) will provide workshops and hold discussions to improve the knowledge of justices at the Supreme Court about monetary policy and financial services.

Under a memorandum of understanding signed in Jakarta on Monday, the three institutions will hold routine training sessions and discussions between their officials and justices across the country on various monetary and financial-services issues.

BI Governor Agus Martowardojo said the partnership would enable the central bank to improve the awareness of the country'€™s justices on updated monetary policies and financial-system stability as well as payment systems and currency management.

Agus said understanding by the three institutions of each other'€™s tasks would be essential for justices when handling legal cases as there would always be the possibility of relevant parties making legal challenges or appeals.

'€œIn preparing and issuing decisions, BI always refers to the laws and regulations as there will be a moral hazard if the central bank is seen as lacking integrity,'€ he said in a press conference after the event.

OJK chairman Muliaman D. Hadad said the financial regulator could also share information on its policies in regulating and supervising financial-services industry since it was established four years ago.