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Jakarta Post

BI initiates committee to deepen foreign currency market

  • The Jakarta Post

    The Jakarta Post

Jakarta   /   Tue, April 1, 2014   /  11:04 pm

Bank Indonesia (BI) Governor Agus Martowardojo has initiated and launched the Indonesia Foreign Exchange Market Committee (Indo FEMC) to boost efforts to deepen the financial market, particularly the domestic foreign exchange market.

'€œThe establishment of Indo FEMC is part of our common effort to accelerate the foreign currency market in Indonesia,'€ he said during the launch of the committee at BI headquarters in Jakarta on Tuesday, as quoted by Antara news agency.

Agus said that both BI and the Financial Services Authority (OJK) would not be able to carry out the financial market deepening without support from banking players. He hoped that there could be good partnership and collaboration between related stakeholders through the newly established forum.

'€œWe initiated the Indo FEMC both as a forum for market players and a strategic partner of the central bank'€™s financial market deepening task force and the OJK,'€ he said.

Agus hoped that the Indo FEMC could provide constructive input in the compiling and adjustment of regulations that had been or would be issued by both BI and the OJK.

Indo FEMC has members comprising BI and OJK officials and representatives from banks and associations such as the Association Cambiste Internationale Indonesia (ACII) and the Indonesian Bankers Association (IBI).

Elected as Indo FEMC chairman was Panji Irawan of Bank Mandiri. He will be assisted by two deputies, Filianingsih Hendarta of BI and Ali Setiawan from HSBC. The committee secretary-general is Bimo Notowidigdo of BNI.

'€œWe hope Indo FEMC members can participate actively all committee activities, make positive contributions in each meeting and prioritize interests of the Indonesian foreign currency market as well as always protect the committee'€™s reputation,'€ said Agus. (ebf)

 

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