Part 6 : DJB during the Revolution Era - Bank Sentral Republik Indonesia
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March 23, 2019

As soon as the Japanese surrender on 15 August 1945, Indonesia announced its independence on 17 August 1945. The following day on 18 August 1945, this new country drafted the 1945 Constitution. In the elucidation of the 1945 Constitution, Chapter VIII, article 23 on Financial Matter, Indonesia stated its goals to set up its Central Bank called Bank Indonesia to consolidate its integrated territory and economic-monetary unity. In the meantime by having a free ride with Allied Forces, the Dutch again tried to occupy the territories it once occupied. As a result, the territories were ruled by two administrations, namely the Government of the Republic of Indonesia and the Dutch Administration or Nederlandsche Indische Civil Administrative (NICA). Further, NICA opened its access through its Japanese Bank head office in Jakarta and assigned DJB as the circulation bank taking over the role of Nanpo Kaihatsu Ginko. Soon DJB managed to reopen its nine branch offices in the territories occupied by NICA. The opening of DJB branches continues in line with two military aggressions by NICA against Republic of Indonesia. Meanwhile, in the territories under the Republic of Indonesia, the government established Jajasan Poesat Bank Indonesia (Bank Indonesia Foundation) which later became Bank Negara Indonesia (BNI) as a circulation bank in accordance with Government Regulation in lieu of Act No. 2 of 1946. However, due to the independence struggles and limited international recognition restricted the role of BNI as a circulation bank. Fortunately, on 30 October 1946, the government managed to issue Oeang Republik Indonesia (ORI) as the first currency of the Republic of Indonesia. This period was closed following the Roundtable Conference in 1949 which assigned DJB as a circulation bank for The Unitary State of the Republic of Indonesia (RIS) and Bank Negara Indonesia as the development bank.



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