TEMPO Interactive, Jakarta:Indonesian central bank Bank Indonesia (BI) is preparing a policy and regulation about branchless banking that will work through information technology or in partnership with other industries. It is expected that this concept will help people who don’t have access to financial institutions. BI Governor Darmin Nasution said that the bank hasn’t appointed agents for this purpose. Agents will replace traditional branches and serve costumers’ transaction. Darmin explained that branchless banking provides security for costumers. The money circulation among traders is very fast. They won’t need to go to the bank to transfer the money. “We reduce the risk,” he said. Darmin is not certain yet about working together with cell phone providers for this project. “We may work with convenience stores or post office.” A banking observer Destry Damayanti said that the concept of branchless banking is very effective. “Indonesia needs to apply this concept because of geographical challenges that can be solved with telecommunication.” She also said that this concept is more efficient than building branches. However, economist from Institute for Development of Economics and Finance, Ahmad Erani Yustika, said that the concept may not really help people’s welfare. “It still depends on the condition in the area.” SATWIKA MOVEMENTI | SETIAWAN