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Jakarta Post

House drops BI Law revision, shifts focus to omnibus bill on financial sector

  • Adrian Wail Akhlas

    The Jakarta Post

Jakarta   /   Tue, December 1, 2020   /  08:35 am
The Jakarta Post Image
The logo of Bank Indonesia is seen in front of the central bank's building in Jakarta. (JP/Rafaela Chandra)

The House of Representatives has dropped deliberation of a bill that would amend the prevailing Bank Indonesia (BI) Law, three lawmakers have said, as the House shifts focus to an omnibus bill on the financial sector to strengthen the country’s financial system. The omnibus bill includes some of the regulations previously stipulated in the BI bill, such as mandating the central bank to pursue economic growth and employment, on top of its current mandate to maintain the rupiah exchange rate and price stability, according to a draft dated Nov. 20 obtained by The Jakarta Post. “The amendment of the BI Law has been dropped,” House Commission XI and Legislative Body (Baleg) member from the Indonesian Democratic Party of Struggle (PDI-P), Hendrawan Supratikno, told the Post on Monday. “We are currently focusing on financial sector reform.” A Baleg meeting...