No.10/ 59/ PSHM/ Humas

Bank Indonesia and International Finance Corporation (IFC) organized today (19/11)  a seminar focusing on Efficiency Enhancement in E-Money organization in Jakarta. “Efficiency is the main factor, in addition to system reliability, that should be enhanced in accelerating the reception of non cash payment instrument by the Public especially e-money” stated the Deputy Governor of Bank Indonesia, S. Budi Rochadi in his speech.

Efficiency factor in e-money is important due to its relation with the use of interconnection system among operators, the accuracy of provision and organization techniques by the industry itself. BI is currently preparing special provisions in order to reinforce the development of a sound and conducive e-money industry. The policy will refer to four main principles of payment system covering: (i) risk minimization of payment system, (ii) national efficiency optimization, (iii) equitable access for users of payment system, and (iv) consumer protection.

In her speech, Rachel Kyte, Vice President of IFC, stated that IFC reinforced by AusAid supported e-money development program in Indonesia.” There are 80 million people in possession of cellular phones but there are only 40 million people with bank accounts. It shows that e-money development through the use of cellular phone facilities has really big potential in Indonesia”, added Kyte.

Apart from aiming at obtaining input from the involved industrial players with regards to the policy under preparation, the organization of this seminar had the objective of setting up a forum or association of industrial players in fostering the development of e-money in Indonesia.
 
Jakarta, November 19, 2008
Office of The Governor

Filianingsih Hendarta
Head of Bureau