BI Forms Indonesia Foreign Exchange Market Committee
2 April 2014 09:04 WIB
TEMPO.CO, Jakarta - Bank Indonesia (BI) Governor Agus Martowardojo has inaugurated Indonesia Foreign Exchange Market Committee (Indo FEMC) to build more credible, durable and stable currency markets in Indonesia that can contribute to national economic development and compete in international market.
Agus said BI will initiate several policies to expedite deepening in rupiah and foreign exchange markets. A deep market structure is an important factor in achieving effectiveness of monetary policy through open market operations.
"That’s why we established the Indo FEMC as a forum for market participants and as a strategic partner for BI and OJK’s (Financial Services Authority) financial markets deepening task force," he said, Tuesday.
Agus said the Committee will be responsible in giving constructive suggestions in formulating regulations issued by BI and OJK. Indo FEMC member will contain BI, OJK, bank representatives, dealer associations and banker associations.
Indo FEMC is headed by Panji Irawan from Bank Mandiri, with Filianingsih Hendarta from Bank Indonesia and Ali Setiawan from HSBC as FEMC Vice Chairmen, and Bimo Notowidigdo as Secretary General. The membership consists of state-owned banks, national private banks, foreign banks, joint venture banks and regional development banks.
MAYA NAWANGWULAN