The Jakarta Post
The International Monetary Fund and the World Bank launched on Thursday the Bali Fintech Agenda, a set of 12 policy elements established to help member countries harness the benefits and opportunities of rapid advances in financial technology (fintech), while at the same time also managing the risks that arise.
President Joko "Jokowi" Widodo in his opening speech during the launch said that governments across the world should not excessively regulate and interfere in the development of fintech, and must instead let innovation and experimentation flourish.
IMF managing director Christine Lagarde said that the 12 key elements in the Bali Fintech Agenda were produced jointly with the World Bank in order to alert member countries to items they need to check in their own existing policies.
The 12 policy elements in the Bali Fintech Agenda are follows: