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Bank of Indonesia

 

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The history of Bank of Indonesia as an independent central bank was initiated when a new Central Bank Act, the UU No. 23/1999 on Bank of Indonesia, was enacted on May 17, 1999 and have which has been amended with UU No.3/2004 on January 15, 2004.

 
 


As an independent state institution, Bank of Indonesia is fully autonomous in formulating and implementing each of its task and authority as stipulated in the Act. External parties are strictly prohibited from interfering with Bank of Indonesia's implementation of its tasks, and Bank of Indonesia has the duty to refuse or disregard any attempt of interference in any form by any party. Bank of Indonesia has one single overarching objective: to establish and maintain rupiah stability. This objective incorporates two key aspects: the first is a stable rupiah for goods and services, reflected by the inflation rate. The second is exchange rate stability against other foreign currencies, which is reflected by rupiah performance against other foreign currencies.


The main objectives and tasks of the Bank of Indonesia are as follows:-

    achieving and maintaining stability of the Rupiah value;
 
   promoting financial system stability for Indonesia’s long term sustainable development;
 
   maintain a secure, reliable and efficient payment system; and
 
   strengthen financial institution by implementation of good governance, effective communication and legal framework.

In achieving the objectives above, Bank of Indonesia are commits itself to providing effective support functions through a sound banking and financial control system, appropriate information system and the development of competent and qualified staff.
 

Bank of Indonesia HQ Location Map

Bank of Indonesia
HQ Address: Jalan MH. Thamrin 2
Jakarta 10350
Indonesia
Telephone: +62 21  231 0108
Facsimile: N/A
Website: www.bi.go.id
Email: humasbi@bi.go.id
SWIFT Code: INDOIDJA
Currency: Rupiah
Banking Hours:
Monday - Friday : 8.00am - 3.00pm
 

 

Whether as a public legal entity or as civil legal entity, the position of Bank Indonesia is regulated by the statutes. As a public legal entity, Bank Indonesia has the authority to issue policy rules and regulations, which are binding to the public at large. As a civil legal entity, Bank Indonesia is able to represent itself in and outside the court of law.

Such unique status and position are necessary so that Bank Indonesia can implement its role and function as monetary authority more effectively and efficiently.
 

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