What is the role of Bank Indonesia?
Table of Contents
What is the role of Bank Indonesia?
Bank Indonesia carries a three-fold responsibility as monetary authority and the regulatory and supervisory authority for the banking system and payment system. As such, BI’s most important task is not only to safeguard monetary stability, but also financial system stability.
Who regulates Indonesian banks?
Financial Services Authority of Indonesia (Indonesian: Otoritas Jasa Keuangan or OJK) is an Indonesian government agency which regulates and supervises the financial services sector. Its head office is in Jakarta.
What is OJK regulation?
OJK Regulation No. 05/POJK. OJK Regulation No. 7/POJK. 05/2014 on examination of insurance corporation is issued in order to assess the effectiveness of implementations of development and supervision over insurance corporations.
Which of the tasks of Bank Indonesia in the policy of monetary?
The overriding objective of monetary policy is to create and maintain rupiah stability, as reflected by low and stable inflation. To that end, Bank Indonesia sets the BI 7-Day (Reverse) Repo Rate as the main policy instrument that influences economic activity, with inflation as the ultimate goal.
What is the main objective of Bank Indonesia as the central bank of Indonesia?
maintaining financial system stability
As the central bank, a key policy objective of Bank Indonesia is maintaining financial system stability in order to support economic stability, which is also linked to the function of Bank Indonesia as Lender of Last Resort (LoLR), namely the authority that acts as the provider of liquidity during a crisis situation.
What is the interest rate in Indonesia?
3.5\%
Indonesia has lowered its interest rates by 0.25 percentage points, from 3.75\% to an annual rate of 3.5\%….Interest rates go down in Indonesia.
| Date | Key rates |
|---|---|
| Jul 15, 2020 | 4.25\% |
| Jul 16, 2020 | 4.00\% |
| Nov 18, 2020 | 4.00\% |
| Nov 19, 2020 | 3.75\% |
What is the name of the central bank of Indonesia?
Bank Indonesia
Bank Indonesia (BI) is the central bank of the Republic of Indonesia. Perry Warjiyo is its current governor….Bank Indonesia.
| Headquarters | Jakarta, Indonesia |
|---|---|
| Established | 1 July 1953 |
| Central bank of | Indonesia |
| Currency | Indonesian rupiah IDR (ISO 4217) |
| Website | www.bi.go.id |
How does FinTech compare to regular banking?
Differences between Fintech and Banks Fintech is a term used to describe new technology that automates and improves the delivery of financial services. On the other hand, banks refer to financial institutions that is licensed to accept deposits from its customers and make loans.
What is the role and purpose of the international monetary system?
The purpose of the international monetary system (IMS) is to facilitate international economic exchange since most countries have national currencies that are not typically accepted as legal payment beyond their borders.
https://www.youtube.com/watch?v=csDYqf4mm4E