JAKARTA: Indonesia’s parliament will consider possible sweeping changes to laws that could give the government more authority over the central bank. Bank Indonesia’s independence is enshrined in the 1999 Central Bank Act. "This has become my concern from the beginning, so that Bank Indonesia can enter the real sector, ” he said. Supervision of banking industry to be returned to the central bank no later than Dec. 31,2023. "Central bank independence is key to establishing credibility and for clear delineation of mandates, ” he said, adding that "lines have been blurring.” - Bloomberg

Source: The Star September 01, 2020 07:41 UTC