In the implementation and enforcement of governance in Bank Indonesia, a conceptual framework is required which integrates all governance elements covering the initial foundation up to the end goal to be achieved. For that reason, a governance framework of Bank Indonesia has been developed illustrating key elements required for implementing good governance.
The governance framework of Bank Indonesia includes five key elements as follows:
Governance Principle of Bank Indonesia, namely the principles which are the basis of governance implementation in Bank Indonesia,
Governance Commitment of Bank Indonesia, namely the manifestation of commitments of the Board of Governors and the working units to implement and uphold Bank Indonesia Governance,
Governance Structure of Bank Indonesia, namely the internal and external organs of Bank Indonesia authorized to carry out the mandate of duty implementation of Bank Indonesia as well as the supervision of Bank Indonesia,
Governance Process of Bank Indonesia, namely a series of standards and procedures used by the Board of Governors and the working units to ensure that the application and enforcement of Bank Indonesia Governance implemented as planned, in a consequent and sustainable manner, and
Governance Outcome of Bank Indonesia, namely the manifestation of implementation and enforcement of Bank Indonesia Governance which has a positive impact to the value creation and sustainability of Bank Indonesia mandate.
The availability of an intact and comprehensive framework is expected to make communication with internal and external stakeholders easier in explaining the governance of Bank Indonesia.
Image of Bank Indonesia Governance Framework