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Jakarta Post

Bank Indonesia to standardize financial service providers competency 

  • Eisya A. Eloksari

    The Jakarta Post

Jakarta   /   Mon, March 9, 2020   /   05:35 pm
Bank Indonesia to standardize financial service providers competency  Manpower Minister Ida Fauziah (left) and Bank Indonesia Governor Perry Warjiyo (right) talk to the press after signing a memorandum of understanding (MOU) to standardize competency for finance service providers in Jakarta on Monday, March 9, 2020. (JP/Eisya A. Eloksari)

The central bank, Manpower Ministry and National Profession Standardization Agency (BNSP) have signed a memorandum of understanding (MOU) to standardize competencies for financial service providers to improve Indonesian talent within the sector.

Manpower Minister Ida Fauziah said that the standards would be built upon the existing Indonesian National Work Competency Standards (SKKNI) for the banking industry which was established in 2017. She asked bankers to adhere to the standards. 

"Human resources in the banking and financial industry need to have technical and managerial capabilities in applying the banking business principles," she said during her keynote speech at the MOU signing ceremony on Monday.

She said that the standardization must be applied to every level of banking and financial service employees, starting from tellers, supervisors to managers.

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“We have a poor experience in banking operational governance that affects our financial system,” she said. “We don’t want any recurring mistakes that is why we need to have standardized competency.”

Ida hoped that Bank Indonesia would help accelerate the standardization process by allowing the internship program to be held in all national banks. She also said that the ministry had established training centers (BLK) which would also train bankers to achieve the standards. 

Bank Indonesia Governor Perry Warjiyo said that the standardization is needed to keep up with the rapid development of technological advances and various products in financial services. 

“We will continue our collaboration with the Manpower Ministry and BNSP to standardize financial technology and train entrepreneurial skills from micro to small and medium enterprises,” he told The Jakarta Post.

He went on to say that the standardization was part of the central bank’s basic support in moving towards a highly digitalized payment system. Perry added that in the next four years, the central bank plans to do more standardization to create an efficient financial service system.