Part 4 : DJB Pursuant to De Javasche Bank Wet 1922 - Bank Sentral Republik Indonesia
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April 21, 2019

On 31 March 1922 De Javasche Bank Act of 1922. This Act was then amended and added with Act dated 30 April 1927 and Act of 13 November 1930. This Bank Act of 1922 was the extension of DJB’s eighth exclusive right which applied before. The period of Bank Act of 1922 was 15 years plus an automatic extension of one year as long as there was no annulment by the Governor General or the Board of Directors. The management of DJB in the DJB Act period comprised the Board of Directors consisting of a President and at least of two Directors, one of them was the Secretary. Apart from that, there were Acting President I, Acting President II, Acting Director I, and Acting Director II. The of the number of Directors was determined jointly in the meeting between the Board of Directors and Board of Commissioners. In this period, DJB was made up of seven sections; among others were economics and statistics, secretariat, bank draft, production and stocks.

During this period, DJB developed fast with 16 branch offices, among others in Bandung, Cirebon, Semarang, Yogyakarta, Surakarta, Surabaya, Malang, Kediri, Kutaraja, Medan, Padang, Palembang, Banjarmasin, Pontianak, Makassar, and Manado, as well as a representative office in Amsterdam and New York. This DJB Act continued to prevail as the operational base of DJB until the enactment of Principal Act of Bank Indonesia on 1 July 1953.



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