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