SHEET COUNTRY
REPUBLIC OF INDONESIA
| No. 7, 2004 | (Explanation in Additional State Sheet Republic Indonesia Number 4357) |
CONSTITUTION OF THE REPUBLIC OF INDONESIA
NUMBER 3, 2004
ABOUT
CHANGE OVER
CONSTITUTION OF THE REPUBLIC OF INDONESIA
NUMBER 23 IN 1999 ABOUT THE INDONESIAN BANK
WITH THE GRACE OF THE ALMIGHTY GOD
PRESIDENT OF THE REPUBLIC OF INDONESIA,
.,, weighed: a. that the national development implemented during this time is a continuous development effort covering all aspects of life in order to achieve national objectives based on Pancasila and the State Basic Law of the Republic of Indonesia In 1945;
., b. that in support of sustainable national development and in line with the challenges of development as well as increasingly complex economic development, the increasingly advanced financial system as well as the international economy. competitive and integrated, then monetary policy must be emphasized in an effort to maintain the stability of the rupiah value;
., c., that in connection with that, it needs to be implemented the principle of balance between the independence of the Bank of Indonesia in carrying out its duties and its authority with its supervision and responsibility for its performance and transparent public accountability;
., d. that based on the consideration of the letter a, the letter b and the letter c above, are viewed as necessary to change and complete the Constitution of the Republic of Indonesia Number 23 of 1999 on the Bank of Indonesia;
.,, Given: 1. Section 5 of the paragraph (1), Section 20 paragraph (1), Section 20A paragraph (1), Section 23D, and Section 33 of the Constitution of the Republic of Indonesia in 1945;
., 2. Law of the Republic of Indonesia No. 23 Year 1999 on Bank Indonesia (LembaranNegara Republik Indonesia Tahun 1999 No. 66; Additional Gazette of the Republic of Indonesia No. 3843);
With Mutual Consent Between
REPRESENTATIVES OF THE PEOPLE ' S REPUBLIC OF INDONESIA
and
PRESIDENT OF THE REPUBLIC OF INDONESIA
DECIDED:
.,, Setting: LEGISLATION ON THE CHANGES TO THE LAWS OF THE REPUBLIC OF INDONESIA NUMBER 23 IN 1999 ABOUT THE BANK OF INDONESIA.
Section 1
Some provisions in Law No. 23 of 1999 concerning Bank Indonesia (State Sheet of Indonesia No. 66, Additional Gazette Number 3843), are changed as follows:
., 1. The provisions of
Section 4 paragraph (2) are changed, so that the entirety of Article 4 reads as follows:
.,,
" Article 4
(1) The Bank of Indonesia is the Central Bank of the Republic of Indonesia.
., (2) The Bank of Indonesia is a state institution that is independent in carrying out its duties and its authority, free from the interference of the Government and/or other parties, except for matters expressly set out in this Act.
(3) The Bank of Indonesia is a legal entity under this law. "
., 2. The provisions of
Section 6 paragraph (2) and paragraph (3) are changed, so that the entirety of Article 6 reads as follows:
.,,
" Section 6
.,, (1) Capital Bank Indonesia is set to amount to at least Rp2,000.000.000.000.00 (two trillion rupiah).
.,, (2) Modal as referred to in paragraph (1) must be added so that it becomes at most 10% (ten perhundred) of all monetary obligations, with funds coming from the General Reserve or from the revaluation of the asset.
.,, (3) Tata means the addition of capital of the General Reserve or of the revaluation of the assets set with the Rules of the Board of Governors. "
., 3. The provisions of
Section 7 are changed, and plus 1 (one) new paragraph, i.e., paragraph (2), so that the entirety of Article 7 reads as follows:
.,,
" Section 7
.,, (1) The purpose of the Bank of Indonesia is to achieve and maintain a stability of rupiah value.
.,, (2) To achieve the objectives as referred to in paragraph (1), the Bank of Indonesia carries out its monetary policy on a continuous, consistent, transparent, and must consider the general policy of the government in the field of economics. "
., 4. The provisions of
Section 10 paragraph (1) of the letter are amended, so that the entirety of Article 10 reads as follows:
.,,
" Article 10
.,, (1) In order to establish and carry out monetary policy as referred to in Article 8 of the letter a, Bank Indonesia authorized:
.,
., a., a. establish monetary goals with regard to inflation rate targets;
., b. doing monetary control by using the means that include but is not limited to:
.,, 1) open market operations in the money market both rupiah and foreign exchange;
2) disconto level assignments;
3) minimum mandatory backup assignments;
4) the credit or financing arrangement.
., (2) The manner of monetary control as referred to paragraph (1) the letter b may be exercised also based on the Syariah Princible.
.,, (3) the implementation of the provisions as referred to in paragraph (1) letter b and paragraph (2) are specified with the Regulation of the Bank of Indonesia. "
. .5.
Section 11 plus two (two) new verses are verses (4) and paragraph (5), so that the entirety of Article 11 reads as follows:
.,,
" Section 11
.,, (1) The Bank of Indonesia may provide credit or financing based on the Syariah Princible for the most prolonged period of 90 (ninety) days to the Bank to address the Bank ' s concerned short-term funding difficulties.
.,, (2) the implementation of the granting of credit or financing under the Syariah Principles as referred to in paragraph (1), is required to be guaranteed by the recipient Bank with a high quality collateral and easily thawed that is at least a minimum of credit. Or the financing he received.
.,, (3) the implementation of the provisions as referred to in paragraph (1) and paragraph (2) are defined with the Bank of Indonesia Regulation.
.,, (4) In terms of a Bank experiencing financial difficulties that systemic impacts and potentially result in a crisis that endangers the financial system, Bank Indonesia can provide an emergency financing facility whose funding is a burden Government.
., (5) The terms and conditions of decision making regarding the Bank ' s financial difficulties systemic impact, awarding of emergency financing facilities, and funding sources stemming from the State Budget and Shopping Budget is set in In its own law, it was set at no later than the end of 2004. "
., 6. The explanation of Article 34 of the paragraph (1) is amended as set forth in the description, and the provisions of
Article 34 paragraph (2) are amended, so that the entirety of Article 34 reads as follows:
.,,
" Section 34
.,, (1) The task of overseeing the Bank will be carried out by an independent financial services sector oversight agency, and is set up by legislation.
.,, (2) The formation of the supervising institute as referred to in paragraph (1), will be implemented no later than 31 December 2010. "
7. The explanation of Article 37 of the verse (1) is amended as set forth in an explanation.
., 8. The provisions of
Article 38 paragraph (2) are changed, and add two (two) new verses to paragraph (3) and paragraph (4), so that the entirety of Article 38 reads as follows:
.,,
" Section 38
.,, (1) The Board of Governors carries out the duties and authority of the Bank of Indonesia as specified in this Act.
.,, (2) The division of the duties and authority of the Member of the Board of Governors in carrying out the provisions as referred to in paragraph (1) is set with the Rules of the Board of Governors.
.,, (3) The order and layout of the execution of the task and authority of the Board of Governors is established with the Rules of the Board of Governors.
.,, (4) The Performance of the Board of Governors and the Members of the Board of Governors in carrying out the duties and its authority is assessed by the House of Representatives. "
., 9. The provisions of
Section 40 of the letter b are changed, so that the entirety of Article 40 reads as follows:
.,,
" Article 40
To be able to be appointed as a member of the Board of Governors, the candidate concerned must be eligible:
a. nationals of Indonesia;
B. have high integrity, akhlak, and morale;
.,, c. has the expertise and experience in the areas of economics, finance, banking, or law. "
., 10. The provisions of
Article 41 paragraph (1), paragraph (2), paragraph (3), and paragraph (4) are amended, so that the entirety of Article 41 reads as follows:
.,,
" Section 41
.,, (1) The Governor, Senior Deputy Governor, and Deputy Governor are proposed and appointed by the President with the approval of the People ' s Representative Council.
.,, (2) The candidate of Deputy Governor is proposed by the President based on the recommendation of the Governor.
., (3) In the event of a potential Governor, Senior Deputy Governor, or Deputy Governor as referred to in paragraph (1) is not approved by the House of Representatives, the President is obliged to submit a new candidate.
.,, (4) In the event of a candidate submitted by the President as referred to in paragraph (3) for the second time not approved by the House of Representatives, the President is obliged to reappoint the Governor, Senior Deputy Governor, or Deputy Governor for the The same office, or with the approval of the House of Representatives, appoints the Deputy Governor of Senior or Deputy Governor for a higher office within the structure of the House of Governors, with regard to the terms as intended. verse (5) and paragraph (6).
.,, (5) Members of the Board of Governors are appointed for a term of 5 (five) years and may be reappointed in the same office for as many as 1 (one) times the next term.
.,, (6) The replacement of the Board of Governors members who have ended his term is performed periodically every year at most 2 (two) people. "
., 11. The paragraph (1) of the letter c
Article 47 is removed, and the verse (2) is changed, and plus 1 (one) new verse (3), so that the entirety of Article 47 reads as follows:
.,,
" Article 47
(1) Members of the Board of Governors both alone and together are prohibited:
.,
., a., a. have direct or indirect interest in any company as well;
., b. To take office to another institution except for the mandatory service of the position;
C. deleted.
.,, (2) In terms of the Board of Governors committing one or more prohibitions as referred to in paragraph (l) of letters a and letter b, the Board of Governors is required to resign from office.
.,, (3) In terms of the Member of the Board of Governors as referred to in paragraph (2) not willing to resign, the President designates the Member of the Board of Governors to cease from office with the approval of the House of Representatives. "
., 12. The provisions of
Section 48 are amended, and plus two (two) new verses, (2) and paragraph (3), so that the entirety of Article 48 reads as follows:
.,,
" Article 48
.,, (1) Members of the Board of Governors cannot be dismissed in his term, except for being concerned:
., a., a. resigning;
B. proven to commit a crime criminal;
., c. may not be physically present within 3 consecutive months without any responsibility to account for;
D. declared bankruptcy or not capable of fulfilling its obligations to creditors; or
Fixed impediation.
.,, (2) Members of the Board of Governors who are recommended to be dismissed as referred to in paragraph (1) the letter c and d are entitled to be heard of.
.,, (3) The Pit Stop of the Board of Governors as referred to in paragraph (1) is set with the Presidential Decree. "
., 13. The provisions of
Section 52 are changed, and plus 1 (one) new paragraph, i.e., paragraph (2), so that the entirety of Article 52 reads as follows:
.,,
" Article 52
(1) The Bank of Indonesia acts as the Government ' s cash holder.
.,, (2) In carrying out such functions on paragraph (1), Bank Indonesia provides interest on the Government ' s cash balance in accordance with the laws. "
., 14. The provisions of
Section 54 paragraph (2) are amended, so that the entirety of Article 54 reads as follows:
.,,
" Section 54
.,, (1) The government is required to request the opinion of the Bank of Indonesia and/or invite the Bank of Indonesia in a cabinet hearing that addresses economic, banking and financial issues related to the duties of the Bank of Indonesia or any other issue that includes authority Bank of Indonesia.
.,, (2) The Bank of Indonesia is required to provide an opinion and consideration to the Government on the State Budget and Shopping Budget Plan as well as other policies related to the duties and authority of the Bank of Indonesia. "
., 15. The provisions of
Section 55 paragraph (4) and paragraph (5) are changed, so that the entirety of Article 55 reads as follows:
.,,
" Section 55
.,, (1) In terms of the Government will publish the country ' s debt letters, the mandatory Government first consults with the Bank of Indonesia.
.,, (2) Before publishing a state debt letter as referred to in paragraph (1), the Government is obliged to consult with the People ' s Representative Council.
.,, (3) The Bank of Indonesia may assist the issuer of state debt letters published by the Government as referred to in paragraph (1).
.,, (4) The Bank of Indonesia is prohibited from purchasing state debt letters as referred to in paragraph (1) for oneself in the primary market, except for the short-term state debt letter required by the Bank of Indonesia for monetary control operations.
.,, (5) The Bank of Indonesia can purchase a state debt letter in order to grant emergency financing facilities as referred to in Article 11 of the paragraph (4) in the primary market. "
., 16.
Article 58 is amended, so that the entirety of Article 58 reads as follows:
.,,
" Section 58
.,, (1) the Bank of Indonesia is required to deliver its annual report in writing to the People's Representative Council and the Government at any beginning of the budget year, which contains:
., a., a. The execution of duty and authority in the previous year; and
., b. The policy plan, target setting, and the implementation of the Bank of Indonesia's task and execution measures for the year to come with regard to the growth of the inflation rate and economic and financial conditions.
.,, (2) the Bank of Indonesia is required to deliver a quarterly report in writing about the implementation of its duties and its authority to the House of Representatives and the Government.
.,, (3) the annual report and quarterly report delivered by the Bank of Indonesia as referred to in paragraph (1) and paragraph (2) are evaluated by the House of Representatives and used as an annual assessment material against the performance of the Board of Governors and Bank of Indonesia.
.,, (4) In terms of the House of Representatives requires an explanation of matters relating to the implementation of the duties and its authority, including in order of judgment against the performance of the Bank of Indonesia, Bank Indonesia is required to convey an explanation orally and/or written.
.,, (5) Annual Report and quarterly reports as referred to in paragraph (1) and paragraph (2) are delivered to the public openly through the mass media by listing its summary in the State News.
.,, (6) Every beginning of the budget year, Bank Indonesia is required to convey information to the public openly through the mass media loading:
., a., a. evaluation of the implementation of monetary policy in the previous year;
., b. the monetary policy and monetary policy plan for the year to come by considering the inflation rate objective and the development of economic and financial conditions.
., 17. Between Article 58 and Section 59 of the new section of Section 5B (one) of the new section, Section 5B, which reads as follows:
.,,
" Section 58A
., (1) To assist the House of Representatives in carrying out the supervision function in a particular field against the Bank of Indonesia created the Supervision Agency in an effort to increase accountability, independence, transparency, and credibility of the Bank of Indonesia.
.,, (2) The Supervision Board consists of 5 (five) members consisting of a member and 4 (four) members who are elected by the People's Representative Council and appointed by the President for a term of 3 (three) years and may be selected. returns for one next term of office.
.,, (3) Supervision Board Membership is selected from persons who have integrity, morality, capability/capability/expertise, professionalism and experienced in the fields of economics, finance, banking, or law.
.,, (4) The entire cost of the Supervision Agency is charged on the Indonesian Bank ' s operating budget.
(5) The Supervision Agency is based in Jakarta.
., (6) The Board of Supervision addresses the report of its duties to the House of Representatives at least once in 3 (three) months or at any time when requested by the People's Representative Council.
., 18. The provisions of
Section 60 paragraph (2) and paragraph (3) are changed, as well as plus 1 (one) the new paragraph (4), so that the entirety of Article 60 reads as follows:
.,,
" Article 60
(1) The Bank of Indonesia ' s budget year is a calendar year.
.,, (2) At least 30 (thirty) days prior to the start of the budget year, the Board of Governors sets the annual budget of the Bank of Indonesia covering the budget for operational and budgeting activities for monetary policy, payment system, as well as the settings and supervision of banking.
.,, (3) The budget of operational activities as referred to in paragraph (2) and evaluation of the execution of the year budget runs is delivered to the People's Representative Council, in this case the completion tool of the People's Representative Council which is the subject, for get approval.
.,, (4) The budget for monetary policy, payment system, as well as regulatory and banking arrangements, is mandatory specifically to the People ' s Representative Council. "
., 19.
Article 62 is amended, so that the entirety of Article 62 reads as follows:
.,,
" Article 62
(1) Surplus of the proceeds of the Indonesian Bank activities shall be divided as follows:
., a., a. 30% (thirty-perhundred) for the Purpose Reserve;
., b. The remainder is served as a General Reserve so that the amount of capital and reserve of the General reserves to be 10% (ten perhundred) of all monetary obligations as referred to in Article 6 of the paragraph (2).
.,, (2) In terms of the risk of duty and authority of the Bank of Indonesia which resulted in the capital of Bank Indonesia being reduced from Rp2,000.000.00 (two trillion rupiah), part or all of the year's surplus running Bank Indonesia as referred to in paragraph (1) is allocated to the General Reserve to close the intended risk.
.,, (3) In terms of the following efforts as referred to in paragraph (2) the amount of capital of the Bank of Indonesia is still less than Rp2,000.000.000.00 (two trillion rupiah), the Government is obliged to close the shortfall that is implemented after it gets The People's Representative Council.
.,, (4) The remaining surplus after minus the share as set in paragraph (1) is handed over to the Government. "
.,,
" Article 77
At least five (5) years from the end of this Act, the Bank of Indonesia must have waive all its inclusion on the legal entity or other entity that does not comply with the provisions as set out in the Section. 64 verses (1). "
., 21. In between Section 77 and Section 78 of the new section, the new section becomes Article 77A, which reads as follows:
.,,
" Article 77A
The provisions of the currency as referred to in Article 2, Article 19, Article 20 of Article 21, Article 22, and Article 23 of this Act are stated to remain in effect until further governed by its own laws. "
Section II
., 1. Under the Act as referred to in Article 11 of the paragraph (5) it has not been specified then the setting of things as referred to in Article 11 of the paragraph (5) is poured in a memorandum of agreement between the Government and the Bank of Indonesia.
., 2. The memorandum of agreement as referred to in verse (1) was signed by the Government and Bank of Indonesia no later than the end of February 2004.
., 3. During the completion of the Indonesian Bank's Liquidity Relief Assistance not over, the Goal Reserve is set to be 10% (ten perhundred).
., 4. As long as there is no regulation that the surplus of the Bank of Indonesia is taxed with income tax, the Bank of Indonesia's surplus in the Bank of Indonesia is not taxed in income tax.
Section III
This law goes into effect on the promulgated date.
In order for everyone to know it, order the invitational of this Act with its placement in the State Sheet of the Republic of Indonesia.
.,, Dislocated in Jakarta
on January 15, 2004
PRESIDENT OF THE REPUBLIC OF INDONESIA,
MEGAWATI SOEKARNOPUTRI
Promulgated in Jakarta
on January 15, 2004
STATE SECRETARY OF THE REPUBLIC OF INDONESIA,
BAMBANG KESOWO
ADDITIONAL
STATE SHEET RI
| No. 4357 | (Explanation Of 2004 State Sheet Number 7) |
EXPLANATION
Above
CONSTITUTION OF THE REPUBLIC OF INDONESIA
NUMBER 3, 2004
ABOUT
CHANGE OVER
CONSTITUTION OF THE REPUBLIC OF INDONESIA
NUMBER 23 OF 1999 ON THE BANK OF INDONESIA
UMUM
.,, Continuous implementation of national development requires a monetary policy adjustment with a goal which is emphasized in the effort to achieve and maintain the stability of the rupiah-supported rupiah by the three main pillars i.e. monetary policy with the Caution principles, a rapid, precise, and secure payment system, as well as a healthy and efficient banking and financial system.
.,, the formulation of the formulation of the monetary policy should be coordinated with the formulation of policies in the fiscal and real sectors.
.,, the increasingly competitive and integrated international financial system has shaped a global economy that makes it easier for the movement of capital flows to be accompanied by the increasingly competitive. This movement of capital flows and competition, in addition to encouraging economic growth, can also result in the vulnerability of the national economy.
., in order to address the various challenges above, it needs to be done adjusting the formulation of the formulation of monetary policy and the institutional realignment of the Bank of Indonesia as a responsible for monetary policy authority.
., the Step is required to strengthen accountability, transparency, and credibility of the Bank of Indonesia without reducing the country ' s institutional independence.
.,,, with an institutional arrangement, to assist the House of Representatives in carrying out surveillance functions in a particular field against the Bank of Indonesia was formed by the Supervision Agency. The creation of the Supervision Agency was part of an effort to increase accountability, independence, transparency, and the credibility of the Bank of Indonesia. In the course of his duties, the Board of Supervision did not perform judgment on the performance of the Board of Governors and did not participate in the decision and did not participate in the assessment of the policy in the areas of the payment system, the regulation and oversight as well as the terms and terms of the IBM International Monetary Service.
.,, the Board of Supervision delivered the execution of its duties to the House of Representatives.
(The Lender of the Last Resort (LoLR) is conducted by the Bank of Indonesia through the awarding of credit facilities to banks that have difficulty funding. short term and guaranteed with high quality agunan and easily thawed. This is particularly limited and does not include the functionality of the Lender of the Last Resort which can be used in emergency or crisis conditions. In this Act, the Bank of Indonesia can provide an emergency financing facility whose funding is a government burden, in which case a bank suffers from financial difficulties that impacts systemic and potentially potential. resulting in a crisis that compromised the financial system. The mechanism is part of the financial sector safety net concept (Indonesia Financial Safety Net) which will be regulated in its own legislation.
., relating to the drafting of the State Budget and Shopping Budget Plan (RAPBN), the Act requires the Bank of Indonesia to provide an opinion and consideration to the Government regarding RAPBN as well as other policies related to the The Bank of Indonesia's duties and authority Such obligations are intended to order the drafting of the RAPBN to consider the more careful monetary aspects associated with the various policies in the fiscal field.
.,, Task Bank Indonesia to oversee the bank according to Law No. 23 Year 1999 is temporary. However, considering the establishment of the establishment of the financial services sector, which is not until the end of December 31, 2002 has been exceeded, with the Act reaffirmed that the oversight of the bank will be carried out by the government. The independent financial services sector oversight agencies will be formed no later than on December 31, 2010. The deadline for the establishment of the institute was established by regard to the readiness of human resources and the institute's structure in accepting the transfer of oversight of banks from the Bank of Indonesia.
.,, based on consideration as stated above, in emphasis on the more coordinated drafting of monetary policy with the fiscal and real sectors policy, and the form of the principle of balance between the independence of the given to the Bank of Indonesia in carrying out its duties and its authority with its supervision and responsibility for its performance which must meet transparent public accountability, it is seen necessary to make adjustments by changing and Complete Law No. 23 of 1999 on the Bank of Indonesia.
SECTION BY SECTION
Section I
.,, Figure 1
.,, Section 4
.,, Verse (1)
.,, referred to by the Central Bank is a state institution that has the authority to issue a valid payment tool from a country, formulate and execute monetary policy, regulate and maintain the agility of the payment system, set up and oversee banking, as well as running functions as lender of the last resort.
The Central Bank is meant to have a goal of achieving and maintaining a stability of the rupiah and not conducting intermediated activities such as those by the Bank in general. However, in order to support the duties of the Central Bank's duties, the banking activities are considered to be necessary.
In Indonesia there is only one Central Bank in accordance with Article 23D of the Constitution of the Republic of Indonesia in 1945.
Verse (2)
.,, referred to by interference is all forms of intimidation, threats, coercion, and persuaders from other parties that directly or indirectly may affect the policy and execution of the Bank of Indonesia ' s duties.
Not included in the sense of interference is cooperation by other parties or technical assistance provided by the other at the request of the Bank of Indonesia in order to support the implementation of the Bank of Indonesia's duties.
What is meant by other parties is all parties outside the Bank of Indonesia including the Government and/or other agencies.
This provision is intended to allow the Bank of Indonesia to carry out its duties and duties effectively.
Verse (3)
.,, Bank Indonesia was declared a legal entity with this Act and intended to have clarity of the Bank of Indonesia ' s authority in managing its own wealth regardless of the State Revenue and Shopping Budget.
In addition, the Bank of Indonesia as a public legal entity is authorized to set regulations and impose sanctions within its authority limit.
Number 2
.,, Section 6
.,, Verse (1)
.,, Modal Bank Indonesia as intended on this verse is derived from the wealth of the separated countries, which are the summation of capital, General Reserve, Purpose Reserve and part of the undivided profits according to Law Number 13 In 1968 about the Central Bank before the Act was enacted.
Verse (2)
.,, referred to by monetary liability is the duty of the Bank of Indonesia to the public, the bank, and the Government consisting of the circulated cartal money, the bank ' s bank account credit balance, the Government, and the other listed parties. at the Bank of Indonesia as well as a debt letter published by the Bank of Indonesia.
Verse (3)
.,, the provisions of the provisions to be set out in the Governor ' s Council Regulation include among others:
a. Accounting treatment for the capital Bank Indonesia.
B. Requirements and terms of asset revaluations.
., c. Capital addition requirements derived from the General Reserve or asset revaluation.
Figure 3
.,, Section 7
.,, Verse (1)
.,, the value of the rupiah referred to in this verse is the stability of the rupiah 's value to goods and services, as well as against other countries' currencies.
The stability of the rupiah ' s value towards goods and services is measured by or reflected by the development of the inflation rate. The stability of the rupiah 's value to other countries' currencies is measured by or reflected by the development of the rupiah exchange rate against the currencies of other countries.
The stability of the rupiah is crucial to supporting sustainable economic development and improving the welfare of the people.
Verse (2)
.,, these provisions are intended to be the monetary policy taken by the Bank of Indonesia on a continuous, consistent, and transparent manner can be a definite and obvious reference to the world of enterprise and the wider community.
In addition, this provision was intended to be the policy taken by the Bank of Indonesia already considering its impact on the national economy as a whole, including the country's finance and development areas in the real sector.
Figure 4
.,, Section 10
.,, Verse (1)
.,, the letter a
.,, the inflation rate target is set by the Government. In setting the inflation rate objective, the Government is coordinating with the Bank of Indonesia.
Letter b
.,, Figure 1
.,, including in open market operations on this verse is the intervention in the foreign exchange market conducted by the Bank of Indonesia in the framework of the rupiah stabilization.
Number 2
.,, referred to by the designation of disconto level is the designation of certain interest rates enforced by Indonesia Bank among others in open market operations in the framework of credit from the Bank of Indonesia or in the implementation of functions lender of last resort.
Figure 3
.,, pretty clear
Figure 4
.,, referred to by the arrangement of credit or financing is the designation of a crediting of the credit or financing by the banking institution as a whole with regard to monetary control.
Verse (2)
.,, open market operations in order of monetary control through the Bank based on the principle of sharia are done by means of the designation of the nisbah for results or rewards in lieu of a disconto level imposed on a conventional bank.
Verse (3)
.,, the provisions of the provisions to be set out in the Bank of Indonesia Regulation include among others:
a. set the way of performing open market operations in the rupiah money market;
., b. set the way for the implementation of foreign exchange interventions in order stabilization rupiah;
c. instruments used in open market operations;
D. set the diskonto level designation layout;
., e. assignment of type and quantity of mandatory minimum reserves for the Bank, whether in rupiah or foreign exchange currency;
f. administrative sanction for minimum mandatory backup breach;
., g. the credit or financing restrictions include also all forms of fund loan facilities through the rupiah and foreign exchange markets;
., h. The settings of the letter c, the letter d, and the letter g are based on the Shariah principle, especially regarding the designation of the nisbah for the results or rewards.
Number 5
.,, Section 11
.,, Verse (1)
.,, the granting of credit or financing under the Syariah Principles to the Bank intended in this Section is only to address the Bank ' s difficulties due to the indifference between the smaller influx of funds compared to the The funds are outside.
The day in this verse is the calendar day.
The longest term of 90 (ninety) days referred to in this paragraph is the maximum possible time frame including the length of the length.
If the credit or financing under the Syariah Principles cannot be repaid at the time of due, the Bank of Indonesia is fully entitled to unfreeze the collateral in accordance with the applicable laws.
Banks that are able to obtain liquidity assistance are the Bank that meets the requirements set by the Bank of Indonesia, for example in real basis the information obtained by the Bank of Indonesia that the Bank in question is having difficulty Short term liquidity, having sufficient collateral and if required, will be conducted further examination of the specific Bank conditions.
Verse (2)
.,, referred to as high-quality and easily thawed collateral including valuable mail and or bills issued by the Government or other legal entities that have a high ranking based on the results of the institution ' s assessment Competent ratings and at any time easily can be sold to the market to be made cash.
Based on the financing of the Sharia principle, for example, for example, the outcome or risk is proportionally shared.
Verse (3)
.,, the provisions of the provisions to be specified in the Bank of Indonesia Regulation include:
., a., a. the requirements and terms of the granting of credit or financing under the Syariah Principles, including the requirements of the recipient's bank. In order to research the health fulfillment of the Bank, the Bank of Indonesia conducts the examination of the recipient of the recipient Bank. credit or financing;
B. Timeframe, interest rate or nisbah for results and other expenses;
., C. the type of collateral is a valuable letter and or bill that has a high ranking;
D.tata's way of bonding.
Verse (4)
.,, pretty clear
Verse (5)
.,, pretty clear
Figure 6
.,, Section 34
.,, Verse (1)
.,, the financial services oversight agency that will be set up to undertake oversight of the Bank and other financial services sector companies covering insurance, pension funds, securities, venture capital, and financing companies, as well as Other agencies are organizing the management of the community fund.
It is independent in its duties, and its position is outside the government and is obligated to report a report to the Financial Examiner and the People's Representative Council. In doing the work of this institute (supervisory board) conduct coordination and cooperation with Bank Indonesia as the Central Bank to be governed in the Act of formation of the supervisory agency referred to.
These supervising agencies may issue provisions relating to the implementation of the Bank 's supervising duties with coordination with the Bank of Indonesia and request an explanation from the Bank of Indonesia' s information and macro data necessary.
Verse (2)
.,, the Takeover Function of the Bank of Indonesia to the financial services sector oversight agency is conducted gradually after the terms of the terms that include infrastructure, budget, personnel, organizational structure, systems information, documentation systems, and various regulatory enforcement regulations as well as reported to the People ' s Representative Council.
Figure 7
., section 37
.,, Verse (1)
.,, the membership of the Board of Governors is adjusted after the bank ' s supervising functions are diverted to the financial services sector surveillance agency by considering efficiency principles.
Figure 8
.,, Article 38
.,, Verse (1)
.,, in order to perform his duties, the Board of Governors can assign the following organization to its device.
Verse (2) and Verse (3)
.,, the provisions of the provisions to be set in the Governor ' s Council Regulation include another:
a. task sharing of the Board of Governors members;
B. Authorize the authority;
The Governor's Code of Conduct.
Verse (4)
.,, pretty clear
Figure 9
.,, Section 40
.,, the letter a
., referred to as Indonesian citizens is a person based on the laws that apply to be declared a citizen of Indonesia.
Letter b
.,, pretty clear
Letter c
.,, referred to by having the expertise is someone who mastered a field of expertise based on the background of education, scholarship, and experience necessary to support the execution of the task concerned.
Having experience is the background of career travel concerned in one of the economic, financial, banking or legal fields in particular that deals with the duties of the Central Bank.
Figure 10
.,, Section 41
.,, Verse (1)
., for each post of Governor, Senior Deputy Governor, and Deputy Governor, the President delivers as many as three (three) candidates to the People's Representative Council. The proposal was delivered as slow as 3 (three) months before the end of the term in question.
The President's proposal was made with regard to the aspirations of the community.
The House of Representatives approves or rejects the candidate of the Governor, Senior Deputy Governor, and Deputy Governor no later than one month from the proposal accepted.
In order to grant such consent, the House of Representatives may request a candidate for Governor, Senior Deputy Governor, and Deputy Governor to conduct a presentation in the House of Representatives hearings concerning vision, experience, expertise or Ability, as well as things pertaining to morals and morals and candidates for Governor, Senior Deputy Governor, and Deputy Governor.
Candidates who have obtained the approval of the People's Representative Council are appointed and appointed to be the Governor, Senior Deputy Governor, and Deputy Governor by the President as head of state with the President's decision.
Verse (2)
.,, the Recommendations of the Governor are granted after the process of a transparent, accountable and objective selection process.
The candidate of the selected Deputy Governor is from both the Bank of Indonesia and from outside the Bank of Indonesia by providing the same opportunity as well as eligible as referred to in this Act.
The number of candidates the Governor has put to the President is at least 4 (four) persons and as many as 6 (six) people.
Verse (3)
.,, pretty clear
Verse (4)
.,, pretty clear
Verse (5)
.,, pretty clear
Verse (6)
.,, the Board of Governors ' replacement is regularly intended to guarantee the continuity of leadership and execution of the Bank of Indonesia's management duties.
Figure 11
.,, Article 47
.,, Verse (1)
.,, the letter a
.,, what is meant to have a direct interest in a company is that if the concerned sit as a caretaker in a company or run its own trade of goods or services. What is meant to have an indirect interest is that in the event of interest in a company's ownership of a company above 25% (twenty-five perhundred).
Letter b
., given that the Board of Governors has a very strategic task in the monetary field, the payment system, and the regulatory and oversight of the bank, as if the members of the Board of Governors are more professional and loyal to the implementation of the Board of Governors, her job.
The term is intended to be a member of the political party and other institutions or organizations that may interfere with the performance and its professionalities with regard to its duties and responsibilities as a member of the Board of Governors of the Bank. Indonesia.
However, based on the association of duties and office members of the Board of Governors ex officio can be held in certain institutions among others at the International Monetary Fund (IMF), World Bank, and the Bankers Institute Indonesia.
Letter c
.,, pretty clear
Verse (2)
., in the case of the Deputy Senior Governor and or the Deputy Governor who is known to have committed a violation of the provisions on the paragraph (1) is not willing to resign, the Governor submitted the proposal to the President to ask the concerned Resign. If the violation is the Governor, the President asks the concerned to resign.
Verse (3)
.,, pretty clear
Number 12
.,, Article 48
.,, Verse (1)
.,, the letter a
.,, the Resignation as referred to in this Article is either voluntarily submitted by the concerned or caused by the provisions as referred to in Article 46 of the paragraph (2) or Article 47 of the paragraph (2).
Letter b
.,, the Pit Stop for committing a criminal offence as referred to in this Article must be proven by a court decision that has had a fixed legal force.
Letter c
.,, cannot be accounted for as contemplated in this Article is that if the members of the Board of Governors are not physically present without notice to the Board of Governors.
Letter d
.,, Pailit and not capable of fulfilling an obligation is based on a court ruling that has a fixed legal force.
Letter e
., referred to as a fixed impediation is the death of the world, experiencing a physical and/or mental disability that does not allow the concerned to carry out his duties properly, or lose Indonesian citizenship.
Verse (2)
.,, pretty clear
Verse (3)
.,, pretty clear
Number 13
.,, Section 52
.,, Verse (1)
., as the Government's treasury holder, the Bank of Indonesia is essentially trying to work out the entire government account. The implementation of the company was implemented in accordance with the Bank Indonesia deal with the Government.
Verse (2)
.,, Which is referred to by legislation is the legislation governing the state treasury.
Figure 14
.,, Section 54
.,, is pretty clear
Figure 15
., Section 55
.,, Verse (1)
.,, the Consultation is required for the issuer of state debt letters on time and not negatively affect monetary policy so that the implementation of the sale of the debt letter can be done with the market acceptable requirements. As well as benefit the government
Verse (2)
.,, the implementation of consultation with the People's Representative Council was conducted with a commission that led to the State Budget and Shopping Budget.
Verse (3)
., if the state's acceptance of taxes, profits, corporate corporations, and so on are not enough to finance the entire state's expenses, the shortfall is closed with funds coming from the public, whether it's a loan in the state. the country and the public abroad by publishing the country ' s debt letters.
The purchase of state debt letters by the Bank of Indonesia can only be carried out indirectly or in the secondary market.
Verse (4)
.,, referred to the state debt letter necessary for the monetary control operation in this paragraph is a short term state debt letter with the longest time of 1 (one) year.
Verse (5)
.,, pretty clear
Number 16
.,, Section 58
.,, Verse (1)
.,, the annual Report presented to the House of Representatives is in the framework of accountability, whereas the annual report to the Government is in the framework of information.
Verse (2)
.,, pretty clear
Verse (3)
.,, pretty clear
Verse (4)
.,, pretty clear
Verse (5)
.,, pretty clear
Verse (6)
.,, the delivery of information to the public, aside as a reflection of the azas of transparency, is also intended to make the public know the direction of monetary policy that can be used as one of the important considerations in the planning of the effort. market perpetrator.
Number 17
.,, Section 58A
.,, Verse (1)
.,, referred to surveillance in a particular field is performing the task:
a. clot over the Bank Indonesia ' s annual financial report;
B. clot over the Indonesian Bank ' s operational and investment budget;
.,, c. telaahan over the procedure of decision making activities outside the monetary policy and management of Bank Indonesia assets.
The Supervision in the exercise of duty as referred to above does not conduct an assessment of the performance of the Board of Governors and does not take a decision and does not participate in the assessment of the policy in the field of payment system, the setting up and supervision of the bank as well as the areas that are the designation and implementation of monetary policy. The Supervision Agency cannot:
a. attend the Board of Governors Meeting;
B. intervene and assess the policies of the Bank of Indonesia;
c. evaluate the performance of the Board of Governors;
D. expressed an opinion to represent the Bank of Indonesia;
., e. convey information related to the execution of its duties directly to the public.
The results of the company's implementation of the duties and authority of the Bank of Indonesia are presented to the People's Representative Council.
Verse (2)
.,, membership of the Supervision Agency is proposed by the President of at least 10 (ten) people.
The chairman of the Supervision Board was chosen from and by members of the Supervision Agency.
Verse (3)
.,, pretty clear
Verse (4)
.,, pretty clear
Verse (5)
.,, the Supervision Agency is housed provided by the Bank of Indonesia.
Verse (6)
.,, pretty clear
Figure 18
.,, Section 60
.,, Verse (1)
.,, pretty clear
Verse (2)
.,, pretty clear
Verse (3)
.,, the Agreement as referred to in this paragraph is provided through consultation with a commission that enforces the Bank of Indonesia and banking no later than 31 December of the budget year. If after 31 December, the proposed budget is considered approved.
Verse (4)
.,, referred to specifically is being publicly reported to the commission that rinse the Bank of Indonesia and banking.
Number 19
.,, Section 62
.,, Verse (1)
.,, the General Reserve is used to add capital or close the Bank Indonesia deficit, while the Purpose Reserve is used among others for replacement costs and or fixed property updates, procurement of supplies required, and the development of the organization and human resources in carrying out the duties and authority of the Bank of Indonesia as well as the inclusion required in the implementation of the Bank of Indonesia's duties as referred to in Section 64.
In Law Number 13 of 1968 on the Central Bank, the Bank Indonesia surplus share for the Reserve Goal is set to be 20% (twenty-perhundred) used for fixed asset replacement/renewal charges and equipment required in carrying out the duties and efforts of the Bank of Indonesia.
In this Act, the Purpose Reserve is used for reimbursed and fixed property renewal, procurement of supplies required, development of human resources and organizations in carrying out the duties and authority of the Bank of Indonesia as well as the inclusion as referred to in Section 64.
The surplus share of the Bank of Indonesia for the Reserve of the Purpose in the Act was increased to 30% (thirty-fifths), given the challenges facing the Bank of Indonesia, among others the need for improvement of the quality of human resources. that is continuous as well as the need for improved quality of technology.
Verse (2)
.,, pretty clear
Verse (3)
.,, pretty clear
Verse (4)
.,, in terms of capital including the General Reserve has reached 10% (ten perhundred) of monetary liability, the remaining surplus that is part of the Government first must be used to pay the Government ' s obligations to the Bank of Indonesia.
Number 20
.,, Section 77
.,, is pretty clear
Figure 21
.,, Section 77A
.,, pretty clear
Section II
.,, pretty clear.
Section III
.,, pretty clear.
