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FAJAR.CO.ID, JAKARTA – The formation of a new Monetary Board chaired by Finance Minister Sri Mulyani generated a public response.
It is known that the Monetary Board was included in the bill on the Second Amendment to Law Number 23 of 1999 relating to the Bank of Indonesia (BI). In this review there will be many articles that were removed and added.
In their presentation, Baleg’s team of experts said that one of the things that would be revised would be Article 9, which would be removed and added to new articles, namely 9a, 9b and 9c. This series of articles 9 will cover the members of the monetary council to their functions.
In this bill, article 9 will later establish a currency board made up of members of the Financial System Stability Committee (KSSK). The money board’s job is to assist the government and BI in planning and setting policy.
In this regard, senior economist Rizal Ramli also spoke. According to him, this rule will put all independent financial authorities, namely the Bank of Indonesia (BI), the Financial Services Organization (OJK), the Deposit Insurance Corporation (LPS) and the Financial Sector Stability Committee (KKSK) in a single command.
“Power Hungry (Kemaruk Kuasa), is not focused on getting out of the crisis. Extraordinary power of the KKSK through Law No. 2/2020, the Minister of Finance in reverse wants more power so that BI, OJK, LPS are under the Ministry of Finance through the “Monetary Board”, wrote Rizal in his Twitter account, on Tuesday (1/9/2020).
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