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Digital banking transactions have surpassed Indonesia’s state budget in 2020
Bank of Indonesia reported record uptake in digital banking, fuelled by the pandemic and consequently shaping the way people conduct financial transactions in-country. In 2020, the total digital banking transaction volume has reached IDR ~2,775 trillion, with e-money transactions at
Government assistance to curb poverty rate
Finance Minister, Sri Mulyani Indrawati, claimed the success of the social safety net policy implemented in 2020 in reducing poverty. According to her, these government interventions were needed to curb the poverty rate at 9.78% (>26.42 mil) of Indonesia’s total
Updates on Covid-19 Vaccine roll-out
COVID-19 vaccine roll-out faces a key logistical challenge in its cold chain distribution to reach remote provinces in Indonesia. The initial vaccinations are reserved for 1.3 million health workers spread across 34 provinces. Health Minister, Budi Gunadi, urges both private
Small, but much-needed step, to care for COVID-19 patients
Health Minister Budi Gunadi announced that Indonesia faces a shortage of 448 specialist doctors, nurses and wards to treat COVID-19 patients. As a response, the ministry plans to train general practitioners to perform COVID-19 specific services, mainly pulmonary treatment, anaesthesia
Hopes for IDR to strengthen in light with vaccine rollout
Upon announcement of Trump’s second impeachment, the IDR weakened to 14,092 per USD, along with several Asian currencies such as South Korean Won, Philippine Peso, and the Chinese Yuan. Experts estimate that the IDR will strengthen in light of the
Covid-19 vaccine distribution readiness at 97%
The distribution of Covid-19 vaccines requires cold chain facilities, which consists of ultra-cold freezers to store the vaccines as well as mobile thermoses to deliver them. Generally, vaccines must be stored at certain temperatures (e.g. -2 to -8°C for freeze
More tests, more Covid-19 cases
As of 25 November, Indonesia recorded its highest daily COVID-19 cases at 5,534 cases. Almost half of these cases came from Jakarta and Central Java. This is in line with the increasing number of tests conducted, with 43,720 people tested
The banking sector faces several long-term risks caused by the pandemic
According to Anung Herlianto, Executive Director of Banking Research and Regulation of the Financial Services Authority (OJK), most of the main indicators show that Indonesia’s banking sector is still stable. However, banks must remain vigilant, as both the gross non-performing
New regulations around fintech lending
The Financial Services Authority (OJK) has prepared new regulations to increase fintech lending outside Java to 25%. As of September, this figure is only 14.2%. This new regulation will be implemented over three years, with a 15% requirement in the
Fintech has an important role in enabling financial inclusion and efficiency
Wakil Presiden Ma’ruf Amin mendorong agar perusahaan teknologi finansial (fintech) dilibatkan dalam penyaluran bantuan sosial (bansos). Startup sektor ini dinilai punya kemampuan untuk verifikasi berbasis biometrik seperti sidik jari dan retina mata. “Keterlibatan fintech penting untuk menyukseskan penyaluran bantuan pemerintah
