Domestic Market Must be Prioritized, Boediono Says
23 May 2013 19:41 WIB
TEMPO.CO, Jakarta - Vice President Boediono asserted that the banking sector must prioritieze domestic market. "The national banking sector must play a dominant role domestically," said Boediono when opening the 2013 Indonesia Banking Expo in Jakarta on Thursday, May 23.
Boediono explained that in the context of the ASEAN Economic Community (AEC), there are two main challenges that must be faced by national banking sector. The first issue is how the national banking industry can be a host in its own country. Secondly, how to become a prominent player in the international market. "The first one may be easier than the second but the first one must be the foremost," the Vice President stated.
Boediono also reminded about the situation is Cyprus and Iceland. "Their banking assets are four times the GDP, but they are controlled by international elements; domestic [banking] was left to a mess," said Boediono.
Boediono believed that domestic banking sector plays an important role in supporting the economy's real sector. He encouraged the banking sector to convey his message to the government concerning the implementation of AEC, especially that involves the 2020 financial integrity.
MARTHA THERTINA