News Release

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Communication Department​

4/12/2021 12:00 AM
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Importance of Consumer Protection in the Digital Economy Era

Press Releases

No. 23/96/DKom

Bank Indonesia continues to strengthen the consumer protection ecosystem in Indonesia amidst the challenge of rapid digital financial innovation.  This has been achieved by reforming consumer protection regulations through Bank Indonesia Regulation (PBI) No. 22/20/PBI/2020 concerning Bank Indonesia Consumer Protection, effective from 22nd December 2020.  The regulatory reform also supports the annual National Consumer Day, announced by the Government for 20th April.  Those were the key topics discussed at the virtual socialisation activity for the Bank Indonesia Consumer Protection Regulation today (11/04).  BI Deputy Governor, Doni P. Joewono, took the opportunity to express the need for support and cooperation from all relevant parties to create a solid consumer protection ecosystem in Indonesia.  A solid and trusted consumer protection function will, in turn, support financial system stability and accelerate national economic growth.

Deputy Governor Doni went on to explain three reasons why Bank Indonesia has reformed its consumer protection regulation.  First, the need for harmonious consumer protection regulations across all public institutions, including Bank Indonesia.  Second, commitment to consumer protection creates consumer confidence and market confidence as critical aspects of maintaining financial system stability to drive strong and sustainable growth.  Third, establishing consumer protection in line with best international practices.

Strengthening consumer protection is the joint responsibility of all relevant authorities and regulators, thus necessitating synergy between government ministries and departments to support the National Consumer Protection Strategy (STRANAS-PK) announced by the Government in 2017.  Bank Indonesia is an active participant of the National Consumer Protection Strategy, particularly in terms of Trading Through Electronic Systems (TPMSE) and the Financial Services Sector.  Bank Indonesia also cooperates with government ministries/departments to offer a Consumer Protection Portal in accordance with a Memorandum of Understanding (MoU) concerning consumer complaint resolution and plays an active role in the National Financial Inclusion Strategy.

Consumer protection regulatory reform by Bank Indonesia includes adjusting the purview of consumer protection, which was previously limited to the payment system yet now covers all tasks and responsibilities of Bank Indonesia in accordance with prevailing laws, namely the monetary sector, macroprudential sector and payment system.  The regulatory reforms are part of Bank Indonesia's commitment to support national consumer protection policy by applying relevant policies in line with international best practices.  Consumer protection policy was also strengthened to help balance the relationship between providers and consumers, as well as address the challenges posed by financial innovation and the digitalisation of financial products and/or services and the payment system.


Jakarta, 12th April 2021

Head of Communication Department

Erwin Haryono

Executive Director

Information about Bank Indonesia

Tel. 021-131, Email:



​Contact Center BICARA: (62 21) 131 e-mail :
Working hours: Monday to Friday, 08.00-16.00 West Indonesia Time

Halaman ini terakhir diperbarui 4/16/2021 9:22 PM
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