BI has yet to announce the issue date for Central Bank Digital Currency (CBDC), but shared that it will involve a multi-year implementation plan. On-going evaluations are performed by BI to understand implications on the macro economy, monetary and fiscal
Governor of Bank Indonesia (BI) Perry Warjiyo stated that BI Fast Payment system will be launched this year to replace National Clearing System (SKNBI). This upgrade will speed up bank clearing time from 2-3 days to real-time. In addition, BI
During the pandemic, digital technology development in Indonesia has grown rapidly. Bank Indonesia commented that this is in line with the national plan to digitise payments and changing consumer preferences to use digital technology. E-commerce transactions are projected to increase
In the beginning of 2021, Bank Indonesia observed an improved efficiency in banking operations. Labor costs and rental costs have decreased due to digitization, 0.03% and 0.05% YOY respectively. BRI reported its BOPO, operating cost to operating income ratio, of
Governor of Bank Indonesia (BI), Perry Warjiyo, appealed to all banks in Indonesia to immediately reduce interest rates to provide credit stimulus to the private sector and grow the economy by 4.3 – 5.3% this year. To date, only banks
Bank Indonesia (BI) in its latest attempt to spur growth, has cut interest rates by 25 basis points to a record low of 3.5 percent. This was the first interest rate cut this year, and the fifth in the past
Bank Syariah Indonesia (BSI) aims to be one of the world’s 10 largest Islamic banks by 2025.. Indonesia is home to ~12% of the world’s Muslim population, and will be a significant market for BSI. To serve this large market,
According to the Global Islamic Economic Indicator, Indonesia has been a fast growing Sharia (or Islamic) economy over the past three years, jumping from its 11th position in 2017 to 4th in 2020. Jardine Husman, Deputy Director of the Department
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