No. 28/99/DKom
The world is entering a new financial architecture, characterised by stronger interlinkages between institutions, sectors and policy domains. Under such conditions, the boundaries between monetary, fiscal and macroprudential policy are becoming increasingly blurred. On the other hand, digitalisation and cross-border interconnectedness are accelerating risk transmission and amplifying the potential impact of shocks on the financial system. This underscores the importance of a more integrated policy response, considering that each policy involves interconnected and multidimensional implications. A more integrated policy framework, close inter-agency coordination, and clear legal mandates among institutions, therefore, are required. In this context, institutional autonomy is becoming crucial, not only for central banks but also for all financial sector regulators and supervisory authorities.
That remarks were delivered by Bank Indonesia Deputy Governor, Thomas A.M. Djiwandono, at the opening of the 4th International Conference and Call for Papers of the Journal of Central Banking Law and Institutions (ICFP-JCLI), hosted by Bank Indonesia on 8th May 2026 in Bali. The conference this year was entitled, “Central Banking in Transition: Navigating Interconnected Risks and Institutional Governance and Autonomy in the New Financial Architecture."
The ICFP-JCLI brought together researchers, academics and practitioners from various countries to exchange ideas in the areas of law, institutional governance, economics, informatics and central banking. Broad international attention towards issues concerning central bank governance and the global financial architecture was reflected in this year's Call for Papers, which received 291 submissions from authors in 34 countries. Through the conference, Bank Indonesia seeks to strengthen perspectives and explore new ideas relevant to addressing increasingly complex policy challenges. Discussions involving authorities and academics concluded that accelerating digital transformation in the financial sector not only unlocks room for innovation, but also necessitates stronger governance, crisis readiness and adaptive supervisory frameworks to maintain financial system stability.
Jakarta, 8th May 2026
Communication Department
Ramdan Denny Prakoso
Executive Director
