Indonesia
BANK INDONESIA
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Finance & Law
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Description
The new chapter in the history of Bank Indonesia as an independent Central Bank in carrying out its duties and authorities began when a new law, namely Law No. 23/1999 concerning Bank Indonesia, was declared effective on May 17, 1999 and as amended by Law of the Republic of Indonesia No. 6/2009. This law gives status and position as an independent state institution in carrying out its duties and authorities, free from interference by the Government and / or other parties, except for matters expressly stipulated in the law invite this.
Bank Indonesia has full autonomy in formulating and carrying out each of its tasks and authorities as stipulated in the law. Outside parties are not permitted to interfere in the implementation of the tasks of Bank Indonesia, and Bank Indonesia is also obliged to refuse or ignore any form of intervention from any party.
This special status and position is needed so that Bank Indonesia can carry out its role and function as a monetary authority more effectively and efficiently.
Bank Indonesia has full autonomy in formulating and carrying out each of its tasks and authorities as stipulated in the law. Outside parties are not permitted to interfere in the implementation of the tasks of Bank Indonesia, and Bank Indonesia is also obliged to refuse or ignore any form of intervention from any party.
This special status and position is needed so that Bank Indonesia can carry out its role and function as a monetary authority more effectively and efficiently.
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