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View all search resultsA newly ratified omnibus law on the financial sector will formalize Bank Indonesia’s (BI) role in helping to finance the fiscal deficit in times of crisis, which economists believe could undermine the central bank’s independence and the government’s efforts to maintain fiscal discipline.
An omnibus bill finalized by the House of Representatives last month aims to revise some 15 laws on the financial sector, bringing in sweeping changes to rules on banking, insurance, the financial system stability committee (KSSK), fintech, carbon trading, a digital rupiah and much more.
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