Banking, Insurance and Leasing
Bank Indonesia (BI) as an independent state institution is fully autonomous in formulating and implementing each of its task and authority as stipulated in the new Central Bank Act, Law No. 23/1999.
As the central bank, BI has a single objective of attaining and maintaining stability of the rupiah value.
In the pursuit of the objective, it is supported by 3 sectors of task which are formulating and implementing monetary policy system, regulating and ensuring a smooth payment system, developing sound banking and credit systems by building and supervising banks. BI does not perform the commercial activities of banks in general, of commercial banks as well as of rural credit banks.
Therefore, BI cannot serve saving and checking accounts as well as deposits from the public. In addition the public cannot directly request for credit from BI. (Online : www.bi.go.id)
Relating to foreign investment, Bank Indonesia plays the following roles:
- Issuing a letter of clearance for final draft loan agreement of Foreign Direct Investment (FDI) companies.
- Monitoring the FDI accounts.
- Ensuring that the capital for FDI projects originates mostly from offshore.
- Registering all offshore loans received by FDI companies.
To support business activities in Indonesia, there are foreign banks operating in Indonesia such as ABN AMRO Bank, American Express Bank, Bank of America NA, Citibank NA, Deutsche Bank AG, JP.Morgan Chase Bank, Standard Chartered Bank, The Bangkok Bank Comp. Ltd., The Bank of Tokyo-Mitsubishi Ltd., The Hong Kong and Shanghai Banking Corp.
In addition, there are 5 (five) state-owned banks, namely PT. Bank Ekspor Indonesia (Persero), PT.Bank Mandiri (Persero), PT.Bank Negara Indonesia (Persero),Tbk., PT. Bank Rakyat Indonesia (Persero), and PT.Bank Tabungan Negara (Persero).
There are also 36 (thirty six) Devisa National Private Banks, 40 (forty) Non Devisa National Private Banks, 26 (twenty six) Region Development Banks, and 24 (twenty four) Joint Ventures Banks. Other financial institutions include 176 insurance companies both international and national, and 145 leasing companies in Indonesia.