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Jakarta Post

Bali Fintech Agenda launches global guideline

  • Dewanti A. Wardhani

    The Jakarta Post

Jakarta   /   Fri, October 12 2018   /  02:30 am
The more, the merrier: Finance Minister Sri Mulyani (second right, front row) joins a group photo with participants of the G20 Finance Ministers and Central Bank meeting in Nusa Dua, Bali, on Wednesday. (JP/Zul Trio Anggono)(second right, front row) joins a group photo with participants of the G20 Finance Ministers and Central Bank meeting in Nusa Dua, Bali, on Wednesday. (JP/Zul Trio Anggono)

The more, the merrier: Finance Minister Sri Mulyani (second right, front row) joins a group photo with participants of the G20 Finance Ministers and Central Bank meeting in Nusa Dua, Bali, on Wednesday. (JP/Zul Trio Anggono)As financial technology (fintech) continues to advance rapidly, a push for updated regulations has prompted the International Monetary Fund and the World Bank to establish a set of policy guidelines for regulators across the world. The Bali Fintech Agenda launched by the IMF and World Bank has been put forward as the guideline for policymakers to find the delicate balance between supporting the fast moving fintech industry and allow it to innovate and flourish, and protecting consumers from the inherent risks that come with new technologies.The guideline consists of 12 policy elements aimed at helping countries harness the benefits and opportunities of fintech, while ...