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View all search resultsBI-Law-revision
Business 5 years ago
PREMIUM
House drops BI Law revision, shifts focus to omnibus bill on financial sector
The plan to amend the Bank Indonesia (BI) Law caused concern in the financial markets since it had looked to curtail the central bank's independence and sustain debt monetization to finance the state budget.
Business 5 years ago
Financial sector overhaul could harm BI’s independence, economists warn
The possible amendments to the 1999 and 2004 Bank Indonesia (BI) Laws and the issuance of a regulation in lieu of law (Perppu) on financial system reform may interfere with the central bank’s independence, economists have warned.
Business 5 years ago
PREMIUM
Experts warn of moral hazard, uncertainty as House plans to let BI supervises banks
In a draft revision of the 1999 and 2004 BI laws, the House's Legislative Body (Baleg) proposed that the central bank take over the job of supervising banks from the Financial Services Authority (OJK).
Business 5 years ago
PREMIUM
‘Bill will push central bank into dark age’: Experts voice concerns over BI Laws revision
The draft revision also scraps all existing articles stipulating BI’s independence in monetary policy making, which it was granted in the wake of the Asian financial crisis to help ensure the country had a prudent central bank.
Business 5 years ago
Rupiah falls 1.35% as investors raise concern over BI’s independence
The rupiah exchange rate fell significantly on Wednesday as investors worry about the independence of Bank Indonesia (BI) following a proposed bill that would give the government the authority to intervene in monetary policymaking.
