![]() The five visions for the Indonesia Payment System include: First, supporting national digital economy and finance integration in order to safeguard the central bank functions of currency in circulation, monetary policy and financial system stability, while supporting financial inclusion. ![]() ![]() Regulatory and Institutional Milestones *Six bank participants located in Batavia, namely Nederlandsche Handel Mij Factorij, De Hong Kong and Shanghai Banking Corp., De Chartered Bank of India, Australia and China, De Nederlandsche Indische Escompto Mij, De Nederlandsche Indische Handelsbank and De Javasche bank **Participants: Eight Clearing Participants (BRI, BDN, BII, BCA, Bank Bali, Deutsche Bank, Standard Chartered Bank and Citibank) and two internal participants from Bank Indonesia (Thamrin Accounting and Kota Accounting). The orientation of payment system policy and development began to shift around 10 years ago, from payment system infrastructure development operated directly by Bank Indonesia towards a payment system industry regulatory and institutional regime, particularly in terms of the retail payment system which has been severely impacted by the flow of digitalisation. As a quick win towards the manifestation of those visions, Bank Indonesia applies operational policy for the National Clearing System (SKNBI) that meets public and industry requirements while maintaining consumer protection principles. Bank Indonesia has already stipulated five visions for the payment system in Indonesia by 2025. ![]()
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