Bank Indonesia (BI, I called De Javasche Bank) is the central bank of the Republic of Indonesia. As the central bank, Bank Indonesia has one single goal, namely achieving and maintaining stability in the rupiah. The stability of the rupiah these two aspects, namely stability of the currency value of goods and services, and the stability of the currency of other countries.
To achieve this, BI is supported by three pillars that are three areas of its work. The third task of this field is set and implement monetary policy, manage and maintain the smooth payment system, and regulate and supervise banks in Indonesia. Diintegrasi need three goals to achieve and maintain stability in the rupiah can be achieved efficiently and effectively.
BI also the only institution that has the rights to distribute the money in Indonesia. In implementing its duties and responsibilities of BI, led by the Board of Governors. For the period 2008-2013, Boediono served as the position of Governor of the BI.
The status and position of Bank Indonesia
As the State Board of Independent
A new chapter in the history of Bank Indonesia as an independent Central Bank, which begun when a new law, namely Law. 23/1999 on Bank Indonesia, declared in effect on May 17, 1999. This law gives the status and position as a state institution that is independent and free from interference by the government or other parties. As an independent state institution, Bank Indonesia has full autonomy in formulating and implementing each of its duties and responsibilities as specified in the law-External is not allowed to meddle in the implementation of the tasks of Bank Indonesia, Bank Indonesia and also obliged to reject or ignore the intervention in the form of anything from any party. To further ensure independence, the law has a special position to Bank Indonesia in the structure of the Republic of Indonesia. As a state institution, the independent position of Bank Indonesia is not in line with the Board of the State. In addition, the position of Bank Indonesia also is not the same with the Department, because the position of Bank Indonesia is located outside the Government. The status and position of these special needs so that Bank Indonesia can implement the role and function as the monetary authority more effectively and efficiently.
As a legal entity
Bank Indonesia's status as a legal entity either public or civil legal entity established by law. As a body of law, Bank Indonesia public authorities set the rules of law which is the implementation of laws that bind all of the public in accordance with its duties and responsibilities. As the body of civil law, Bank Indonesia can act for and on behalf of themselves in and outside the court.
Goals and Tasks of Bank Indonesia
Single Destination
In its capacity as the central bank, Bank Indonesia has one single goal, namely achieving and maintaining stability in the rupiah. The stability of the rupiah these two aspects, namely stability of the currency value of goods and services, and the stability of the currency of other countries. The first aspect is reflected in the rate of inflation, while the second aspect is reflected in the development of the rupiah exchange rate against other currencies. The formulation of the single purpose of this is intended to clarify the targets that must be achieved by Bank Indonesia and the boundaries of responsibility. Thus, the achievement of the goals of Bank Indonesia will be measured easily.
Three Pillars Home
To achieve these objectives, Bank Indonesia is supported by three pillars that are three areas of its work. The third task of this field is set and implement monetary policy, manage and maintain the smooth payment system, and regulate and supervise banks in Indonesia. Diintegrasi need three goals to achieve and maintain stability in the rupiah can be achieved efficiently and effectively.
Monetary Policy
As the monetary authority, Bank Indonesia set and implement monetary policy to achieve and maintain stability in the rupiah. The direction of policy is based on the inflation rate target to be achieved by considering various other macroeconomic targets, both in the short term, medium term and long term.
Implementation of the monetary policy conducted with a set of operational targets, namely primary money (base money), and then observe the development of indicators that provide pressure on prices and the rupiah.
Development indicators are through direct monetary, that is using open market operations, discount rate and the determination of the minimum required reserves for banks.
Pegendalian the monetary approach indirectly this has been done since 1983 with an operational mechanism tailored to the dynamics of the domestic money market.
Open Market Operations
Open Market Operation (OMO) held to affect the rupiah liquidity in the money market, which in turn will affect the level of interest rates. OMO conducted through two ways, namely through the sale of Bank Indonesia Certificates (SBI) and the intervention of Rupiah.
SBI sales made through auction so that the discount rate that truly reflects the money market liquidity conditions. Meanwhile, the rupiah intervention by Bank Indonesia to adjust money market conditions, good liquidity and interest rate.
Determination of the Minimum Required Reserves
This policy requires each bank's smoothly propose a number of assets that are prescribed certain amount of obligation segeranya. Currently, provisions in the Minimum Reserve Requirements (MRR) by 5% from the third party funds received by banks, which are kept in mandatory bank account at the Bank of Indonesia.
When Bank Indonesia need to tighten monetary policy, the compulsory reserve can be improved, and similarly vice versa. Role as a lender of the Last Resort, Bank Indonesia also function as lenders of last resort.
In implementing this function, Bank Indonesia can provide credit or financing based on the principles of sharia to the bank, which experienced a short-term liquidity difficulties caused by the occurrence of mismatch in the management of funds.
The loan period maximum 90 days, and bank loan recipients must provide collateral, high quality and easily diluted with a value at least equal to the amount of the loan.
Role as a lender of the Last Resort
Bank Indonesia also function as lenders of last resort. In implementing this function, Bank Indonesia can provide credit or financing based on the principles of sharia to the bank, which experienced a short-term liquidity difficulties caused by the occurrence of mismatch in the management of funds. The loan period maximum 90 days, and bank loan recipients must provide collateral, high quality and easily diluted with a value at least equal to the amount of the loan.
Exchange Rate Policy
The exchange rates that are commonly called the exchange rate, have an important role in achieving monetary stability and in supporting economic activity. A stable exchange rate is needed to create a climate conducive to increased business activities.
In outline, since 1970, Indonesia has implemented a system of three exchange rates, the system of fixed exchange rates 1970 to 1978, the exchange rate float system since 1978, and the system of exchange rates float freely (free floating exchange rate system) since 14 August 1997.
With the inception of this system, the rupiah exchange rate determined by the market exchange rate that is actually a balance between reflection of supply and demand.
To maintain the stability of exchange rates, Bank Indonesia in a certain period of time to make sterilization in the foreign exchange market, especially when there are excessive exchange rate fluctuation.
Management of International Reserves
Foreign exchange reserves is a net asset position of foreign government and foreign exchange banks, which must be kept for the purpose of international transactions.
In managing the reserves, the Bank of Indonesia while achieving the goal of liquidity and safety of high profit. Nevertheless, Bank Indonesia is still considering the development that occurred in the international market, so it is possible shift in the composition of the portfolio of foreign exchange reserves.
In managing foreign exchange reserves, Bank Indonesia is implementing diversification, both based on the type of foreign currency and based on the type of investment securities. By the way, it is expected that the decline in the value of a currency can be compensated by other types of currency or other placement that has a better value.
Credit Program
With Bank Indonesia's status as an independent monetary authority, the credit program, which is next conducted outside the scope of the task of Bank Indonesia.
Duty credit program will be conducted by the State-owned enterprises (SOEs), which appointed the Government. Transfer of tasks is that Bank Indonesia to focus more attention on the achievement of targets for monetary and in order to create a better division of tasks between the government and Bank Indonesia.
And the setting of Bank Supervision
In order to manage and supervise the task of banking, Bank Indonesia to set regulations, and to give permission on the institutional or business activities of certain banks, conduct supervision over banks, and impose sanctions against the bank in accordance with the provisions of laws and regulations.
In the implementation of this task, Bank Indonesia authorities to set conditions with the banking uphold the principle of prudence.
In connection with the licensing authority in the field, besides providing permits and revoke bank, Bank Indonesia can also give permission opening, closing and evacuation of a bank office, the approval of the ownership and management of banks, and give permission to banks to run the activities of certain business.
In the field of supervision, supervision of Bank Indonesia directly and indirectly. Direct supervision is carried out either in the form of checks regularly and at any time if necessary. Supervision is carried out through research, analysis and evaluation of the reports submitted by the bank.
Efforts to Restructure Banking
As efforts to rebuild the trust of the community to the financial system and economy of Indonesia, Bank Indonesia has taken a comprehensive restructuring of the banking. This step is absolutely necessary in order to recreate the banks as intermediary institutions that will encourage economic growth, while simultaneously improving the effectiveness of monetary policy.
Restructuring the banking is done through efforts to restore public confidence, the recapitalization program, credit restructuring, improvement of the banking provisions, and improving the function of bank supervision.
Payment System
Maintaining the stability of the rupiah, Bank Indonesia is the goal, as mandated Law. 23 of 1999 on Bank Indonesia. To maintain the stability of the rupiah and the need to be supported will be smooth management of National Payment System (NPS). The smoothness of the NPS is also need to be supported by a reliable infrastructure (robust). So, the more smoothly and hadal NPS, the more smoothly transmission of monetary policy, which is time-critical. If monetary policy is running smoothly so its mouth is the stability of exchange rates.
BI is the institutions that manage and maintain the smoothness of the NPS. As monetary authorities, central bank reserves the right to establish and NPS policy. In addition, BI also has the authority to issue approvals and licensing and monitoring (oversight) of the NPS. Recognizing the smoothness of the NPS, which is important in the system (systemically important), the central bank should consider organizing inter-bank settlement system infrastructure through the BI-Real Time Gross Settlement (BI-RTGS).
In addition, there is still the task of BI in the NPS, for example, the role of the interbank clearing system for the type of payment instruments certain. The central bank also is the only institution that has the right to distribute equipment and cash as payment currency of rupiah. BI also have the right to revoke, to attract foreign currency rupiah, which is not valid from circulation.
With these powers, the BI also set a number of policy components of the NPS. For example, payment instruments that may be used in Indonesia. BI also determine the standard payment instruments and was the parties that can be published and / or equipment to process the payment. BI also establish the institutions that can hold the payment system. Take the example, the clearing system or the transfer of funds, a good system intact or only part of the system only. The central bank also appoint an institution to operate a settlement system. In the end, BI must also establish policies on risk management, efficiency and good governance (governance) NPS.
In the cash payment instruments, Bank Indonesia is the only institution authorized to issue and circulate rupiah currency and in foreign currency from circulation. Related to the role of BI in the issue and circulation of money, Bank Indonesia can always try to meet cash needs in the community both in nominal enough, according to the type of fraction, punctually, and in a condition fit for circulation (clean money policy). To clean money policy, management, which manages money through Bank Indonesia from spending money, manages the money, revocation and withdrawal of money to the destruction of money.
Before conducting the rupiah currency, first by planning to have spent the money that good quality so that public confidence remains intact. Planning by Bank Indonesia include the planning of new emissions, considering the level of fraud, and the value intrinsically edar money. In addition, the planning is done and the composition of total fraction of the money will be printed during the year ahead. Based on the planning and procurement made good money for spending money emissions and printing new money to the routine issued in the past.
Currency issued then distributed or distributed in the entire region through the Office of Bank Indonesia. Rupiah needs in each office of Bank Indonesia based on the amount of stock, the needs of payments, exchange and replacement of the money during a period of time. Distribution is done by means of land, sea and air. To ensure the security escorts performed well through adequate planning and with the increased monitoring system.
Activities also manages the money made through the service of cash to banks and the general public. Service cash to the bank conducted through general revenues and premium payments rupiah currency. While the community is done through the exchange directly through the counter-counter exchange in all the offices of Bank Indonesia or through cooperation with companies that provide services, exchange small.
Furthermore, the rupiah currency management activities by Bank Indonesia is the revocation of a fraction of the money with the emission of certain years are no longer valid as legal. Revocation of money from circulation is intended to prevent and minimize the circulation of counterfeit money and simplify the composition and emissions fraction. Currency, which may be revoked by Bank Indonesia to exchange or other parties who have been appointed by Bank Indonesia.
Meanwhile, to keep rupiah currency in conditions fit for circulation in the community, Bank Indonesia to do the destruction of money. Money Destruction is the money that has been revoked and withdrawn from circulation, printing money and less perfect money that is not fit for circulation. The destruction of currency is governed by the procedures and conducted by a third party with supervision by a team of Bank Indonesia (BI).
The Board of Governors of BI
In implementing its duties and responsibilities, led by Bank Indonesia Board of Governors. This Council consists of a Governor as a leader, assisted by a Senior Deputy Governor as a representative, and at least four or at most seven Deputy Governor. Tenure of the Governor and Deputy Governor for a term of five years, and they can only be elected for as many two-time task.
And Dismissal of the Board of Governors
Governor and Senior Deputy Governor proposed and appointed by the President with the approval of the DPR. Meanwhile, Deputy Governor proposed by the Governor and appointed by the President with the approval of the DPR. Member of the Board of Governor of Bank Indonesia can not be dismissed by the President, except when the pull out, permanently, or to perform criminal acts of crime.
The Decision
As a forum highest decision-making, Meeting of the Board of Governors (Board of Governors' Meetings) held at least once a month to set general policy in the field of monetary, and at least once a week to evaluate the implementation of monetary policy or policies that define and principle strategic. Decision making is done in the Meeting of the Board of Governors, on the basis of consensus for the agreement. If the agreement is not reached, the Governor set a final decision.
The Governor of Bank Indonesia
Since established, the people who elected as Governor of the BI, as follows:
• 2008-2013 Boediono
• 2003-2008 Burhanuddin Abdullah
• 1998-2003 Syahril Sabirin
• 1993-1998 J. Soedradjat Djiwandono
• 1988-1993 Adrian Mooy
• 1983-1988 Arifin Siregar
• 1973-1983 Rachmat Saleh
• 1968-1973 Radius Prawiro
Source: id.wikipedia.com
To achieve this, BI is supported by three pillars that are three areas of its work. The third task of this field is set and implement monetary policy, manage and maintain the smooth payment system, and regulate and supervise banks in Indonesia. Diintegrasi need three goals to achieve and maintain stability in the rupiah can be achieved efficiently and effectively.
BI also the only institution that has the rights to distribute the money in Indonesia. In implementing its duties and responsibilities of BI, led by the Board of Governors. For the period 2008-2013, Boediono served as the position of Governor of the BI.
The status and position of Bank Indonesia
As the State Board of Independent
A new chapter in the history of Bank Indonesia as an independent Central Bank, which begun when a new law, namely Law. 23/1999 on Bank Indonesia, declared in effect on May 17, 1999. This law gives the status and position as a state institution that is independent and free from interference by the government or other parties. As an independent state institution, Bank Indonesia has full autonomy in formulating and implementing each of its duties and responsibilities as specified in the law-External is not allowed to meddle in the implementation of the tasks of Bank Indonesia, Bank Indonesia and also obliged to reject or ignore the intervention in the form of anything from any party. To further ensure independence, the law has a special position to Bank Indonesia in the structure of the Republic of Indonesia. As a state institution, the independent position of Bank Indonesia is not in line with the Board of the State. In addition, the position of Bank Indonesia also is not the same with the Department, because the position of Bank Indonesia is located outside the Government. The status and position of these special needs so that Bank Indonesia can implement the role and function as the monetary authority more effectively and efficiently.
As a legal entity
Bank Indonesia's status as a legal entity either public or civil legal entity established by law. As a body of law, Bank Indonesia public authorities set the rules of law which is the implementation of laws that bind all of the public in accordance with its duties and responsibilities. As the body of civil law, Bank Indonesia can act for and on behalf of themselves in and outside the court.
Goals and Tasks of Bank Indonesia
Single Destination
In its capacity as the central bank, Bank Indonesia has one single goal, namely achieving and maintaining stability in the rupiah. The stability of the rupiah these two aspects, namely stability of the currency value of goods and services, and the stability of the currency of other countries. The first aspect is reflected in the rate of inflation, while the second aspect is reflected in the development of the rupiah exchange rate against other currencies. The formulation of the single purpose of this is intended to clarify the targets that must be achieved by Bank Indonesia and the boundaries of responsibility. Thus, the achievement of the goals of Bank Indonesia will be measured easily.
Three Pillars Home
To achieve these objectives, Bank Indonesia is supported by three pillars that are three areas of its work. The third task of this field is set and implement monetary policy, manage and maintain the smooth payment system, and regulate and supervise banks in Indonesia. Diintegrasi need three goals to achieve and maintain stability in the rupiah can be achieved efficiently and effectively.
Monetary Policy
As the monetary authority, Bank Indonesia set and implement monetary policy to achieve and maintain stability in the rupiah. The direction of policy is based on the inflation rate target to be achieved by considering various other macroeconomic targets, both in the short term, medium term and long term.
Implementation of the monetary policy conducted with a set of operational targets, namely primary money (base money), and then observe the development of indicators that provide pressure on prices and the rupiah.
Development indicators are through direct monetary, that is using open market operations, discount rate and the determination of the minimum required reserves for banks.
Pegendalian the monetary approach indirectly this has been done since 1983 with an operational mechanism tailored to the dynamics of the domestic money market.
Open Market Operations
Open Market Operation (OMO) held to affect the rupiah liquidity in the money market, which in turn will affect the level of interest rates. OMO conducted through two ways, namely through the sale of Bank Indonesia Certificates (SBI) and the intervention of Rupiah.
SBI sales made through auction so that the discount rate that truly reflects the money market liquidity conditions. Meanwhile, the rupiah intervention by Bank Indonesia to adjust money market conditions, good liquidity and interest rate.
Determination of the Minimum Required Reserves
This policy requires each bank's smoothly propose a number of assets that are prescribed certain amount of obligation segeranya. Currently, provisions in the Minimum Reserve Requirements (MRR) by 5% from the third party funds received by banks, which are kept in mandatory bank account at the Bank of Indonesia.
When Bank Indonesia need to tighten monetary policy, the compulsory reserve can be improved, and similarly vice versa. Role as a lender of the Last Resort, Bank Indonesia also function as lenders of last resort.
In implementing this function, Bank Indonesia can provide credit or financing based on the principles of sharia to the bank, which experienced a short-term liquidity difficulties caused by the occurrence of mismatch in the management of funds.
The loan period maximum 90 days, and bank loan recipients must provide collateral, high quality and easily diluted with a value at least equal to the amount of the loan.
Role as a lender of the Last Resort
Bank Indonesia also function as lenders of last resort. In implementing this function, Bank Indonesia can provide credit or financing based on the principles of sharia to the bank, which experienced a short-term liquidity difficulties caused by the occurrence of mismatch in the management of funds. The loan period maximum 90 days, and bank loan recipients must provide collateral, high quality and easily diluted with a value at least equal to the amount of the loan.
Exchange Rate Policy
The exchange rates that are commonly called the exchange rate, have an important role in achieving monetary stability and in supporting economic activity. A stable exchange rate is needed to create a climate conducive to increased business activities.
In outline, since 1970, Indonesia has implemented a system of three exchange rates, the system of fixed exchange rates 1970 to 1978, the exchange rate float system since 1978, and the system of exchange rates float freely (free floating exchange rate system) since 14 August 1997.
With the inception of this system, the rupiah exchange rate determined by the market exchange rate that is actually a balance between reflection of supply and demand.
To maintain the stability of exchange rates, Bank Indonesia in a certain period of time to make sterilization in the foreign exchange market, especially when there are excessive exchange rate fluctuation.
Management of International Reserves
Foreign exchange reserves is a net asset position of foreign government and foreign exchange banks, which must be kept for the purpose of international transactions.
In managing the reserves, the Bank of Indonesia while achieving the goal of liquidity and safety of high profit. Nevertheless, Bank Indonesia is still considering the development that occurred in the international market, so it is possible shift in the composition of the portfolio of foreign exchange reserves.
In managing foreign exchange reserves, Bank Indonesia is implementing diversification, both based on the type of foreign currency and based on the type of investment securities. By the way, it is expected that the decline in the value of a currency can be compensated by other types of currency or other placement that has a better value.
Credit Program
With Bank Indonesia's status as an independent monetary authority, the credit program, which is next conducted outside the scope of the task of Bank Indonesia.
Duty credit program will be conducted by the State-owned enterprises (SOEs), which appointed the Government. Transfer of tasks is that Bank Indonesia to focus more attention on the achievement of targets for monetary and in order to create a better division of tasks between the government and Bank Indonesia.
And the setting of Bank Supervision
In order to manage and supervise the task of banking, Bank Indonesia to set regulations, and to give permission on the institutional or business activities of certain banks, conduct supervision over banks, and impose sanctions against the bank in accordance with the provisions of laws and regulations.
In the implementation of this task, Bank Indonesia authorities to set conditions with the banking uphold the principle of prudence.
In connection with the licensing authority in the field, besides providing permits and revoke bank, Bank Indonesia can also give permission opening, closing and evacuation of a bank office, the approval of the ownership and management of banks, and give permission to banks to run the activities of certain business.
In the field of supervision, supervision of Bank Indonesia directly and indirectly. Direct supervision is carried out either in the form of checks regularly and at any time if necessary. Supervision is carried out through research, analysis and evaluation of the reports submitted by the bank.
Efforts to Restructure Banking
As efforts to rebuild the trust of the community to the financial system and economy of Indonesia, Bank Indonesia has taken a comprehensive restructuring of the banking. This step is absolutely necessary in order to recreate the banks as intermediary institutions that will encourage economic growth, while simultaneously improving the effectiveness of monetary policy.
Restructuring the banking is done through efforts to restore public confidence, the recapitalization program, credit restructuring, improvement of the banking provisions, and improving the function of bank supervision.
Payment System
Maintaining the stability of the rupiah, Bank Indonesia is the goal, as mandated Law. 23 of 1999 on Bank Indonesia. To maintain the stability of the rupiah and the need to be supported will be smooth management of National Payment System (NPS). The smoothness of the NPS is also need to be supported by a reliable infrastructure (robust). So, the more smoothly and hadal NPS, the more smoothly transmission of monetary policy, which is time-critical. If monetary policy is running smoothly so its mouth is the stability of exchange rates.
BI is the institutions that manage and maintain the smoothness of the NPS. As monetary authorities, central bank reserves the right to establish and NPS policy. In addition, BI also has the authority to issue approvals and licensing and monitoring (oversight) of the NPS. Recognizing the smoothness of the NPS, which is important in the system (systemically important), the central bank should consider organizing inter-bank settlement system infrastructure through the BI-Real Time Gross Settlement (BI-RTGS).
In addition, there is still the task of BI in the NPS, for example, the role of the interbank clearing system for the type of payment instruments certain. The central bank also is the only institution that has the right to distribute equipment and cash as payment currency of rupiah. BI also have the right to revoke, to attract foreign currency rupiah, which is not valid from circulation.
With these powers, the BI also set a number of policy components of the NPS. For example, payment instruments that may be used in Indonesia. BI also determine the standard payment instruments and was the parties that can be published and / or equipment to process the payment. BI also establish the institutions that can hold the payment system. Take the example, the clearing system or the transfer of funds, a good system intact or only part of the system only. The central bank also appoint an institution to operate a settlement system. In the end, BI must also establish policies on risk management, efficiency and good governance (governance) NPS.
In the cash payment instruments, Bank Indonesia is the only institution authorized to issue and circulate rupiah currency and in foreign currency from circulation. Related to the role of BI in the issue and circulation of money, Bank Indonesia can always try to meet cash needs in the community both in nominal enough, according to the type of fraction, punctually, and in a condition fit for circulation (clean money policy). To clean money policy, management, which manages money through Bank Indonesia from spending money, manages the money, revocation and withdrawal of money to the destruction of money.
Before conducting the rupiah currency, first by planning to have spent the money that good quality so that public confidence remains intact. Planning by Bank Indonesia include the planning of new emissions, considering the level of fraud, and the value intrinsically edar money. In addition, the planning is done and the composition of total fraction of the money will be printed during the year ahead. Based on the planning and procurement made good money for spending money emissions and printing new money to the routine issued in the past.
Currency issued then distributed or distributed in the entire region through the Office of Bank Indonesia. Rupiah needs in each office of Bank Indonesia based on the amount of stock, the needs of payments, exchange and replacement of the money during a period of time. Distribution is done by means of land, sea and air. To ensure the security escorts performed well through adequate planning and with the increased monitoring system.
Activities also manages the money made through the service of cash to banks and the general public. Service cash to the bank conducted through general revenues and premium payments rupiah currency. While the community is done through the exchange directly through the counter-counter exchange in all the offices of Bank Indonesia or through cooperation with companies that provide services, exchange small.
Furthermore, the rupiah currency management activities by Bank Indonesia is the revocation of a fraction of the money with the emission of certain years are no longer valid as legal. Revocation of money from circulation is intended to prevent and minimize the circulation of counterfeit money and simplify the composition and emissions fraction. Currency, which may be revoked by Bank Indonesia to exchange or other parties who have been appointed by Bank Indonesia.
Meanwhile, to keep rupiah currency in conditions fit for circulation in the community, Bank Indonesia to do the destruction of money. Money Destruction is the money that has been revoked and withdrawn from circulation, printing money and less perfect money that is not fit for circulation. The destruction of currency is governed by the procedures and conducted by a third party with supervision by a team of Bank Indonesia (BI).
The Board of Governors of BI
In implementing its duties and responsibilities, led by Bank Indonesia Board of Governors. This Council consists of a Governor as a leader, assisted by a Senior Deputy Governor as a representative, and at least four or at most seven Deputy Governor. Tenure of the Governor and Deputy Governor for a term of five years, and they can only be elected for as many two-time task.
And Dismissal of the Board of Governors
Governor and Senior Deputy Governor proposed and appointed by the President with the approval of the DPR. Meanwhile, Deputy Governor proposed by the Governor and appointed by the President with the approval of the DPR. Member of the Board of Governor of Bank Indonesia can not be dismissed by the President, except when the pull out, permanently, or to perform criminal acts of crime.
The Decision
As a forum highest decision-making, Meeting of the Board of Governors (Board of Governors' Meetings) held at least once a month to set general policy in the field of monetary, and at least once a week to evaluate the implementation of monetary policy or policies that define and principle strategic. Decision making is done in the Meeting of the Board of Governors, on the basis of consensus for the agreement. If the agreement is not reached, the Governor set a final decision.
The Governor of Bank Indonesia
Since established, the people who elected as Governor of the BI, as follows:
• 2008-2013 Boediono
• 2003-2008 Burhanuddin Abdullah
• 1998-2003 Syahril Sabirin
• 1993-1998 J. Soedradjat Djiwandono
• 1988-1993 Adrian Mooy
• 1983-1988 Arifin Siregar
• 1973-1983 Rachmat Saleh
• 1968-1973 Radius Prawiro
Source: id.wikipedia.com
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