Indonesia Bank Preparing ASEAN Integration of Financial Sector

Indonesia Bank Preparing ASEAN Integration of Financial Sector : Bank Indonesia prepares to face the free flow of financial services are scheduled in the agreement Economic Community Association of South East Asian Nations in 2015. "We've compiled a strategic approach to strategy," said Head of Public Relations BI Difi A. Johansyah in his office at Jalan MH Thamrin, Jakarta, today (21 / 4).

The strategy is divided into two stages of achievement, the first phase of this supposed to happen in 2015 and subsequently in 2020. "Indonesia's commitment to the insurance and capital market liberalization in 2015 and the liberalization of banking services in 2020," said Difi.


Difi said, the reason for the liberalization of banking services are conducted too late to prepare five-year consolidation of banks in each country. "And the bank's use of public funds that need more preparation for sufficient systemic risk," he said.

Given the agreement of the ASEAN Economic Community (MEA) is an impact on macroeconomic stability, the Bank will prepare the policy that helped maintain macroeconomic stability and financial system.

By reaching liberalization in 2015, BI has developed a draft pre-Agreed flexibilities for the financial services sub-sector in 2008 until 2009. This year until next year, a list of these concepts will be approved so that the years 2014 to 2015 can remove the barriers of financial services subsector based on the blueprint MEA.

Meanwhile, in 2012 and 2013, the central bank to focus on preparing the concept of pre-Agreed flexibilities for the financial services sub-sectors to be liberalized in 2020. So that in 2017 it can approve the list of concepts to be realized in 2020.

Looking at the developments that integrate the European Union currency, the MEA blueprint is still far from such integration. "The EU took 50 years just to get the currency integration. When we come to financial integration, the new currency's talk," concluded Difi.