Michelle Maria Khrisanthi Kaunang

Faculty of Economics and Business

Management(IBA)
6th Semester

Bank Indonesia

Who don’t know Bank Indonesia, Bank Indonesia is the Central Bank of the Republic of Indonesia
which has been established since July 1, 1953, which has a big duty and responsibility for the financial
system in Indonesia because Bank Indonesia has one single goal, namely to achieve and maintaining the
stability of the rupiah value against the currencies of other countries.

Bank Indonesia is an independent institution, what is meant by independent here is in carrying out its
functions and carrying out its duties, Bank Indonesia is independent from the influence of the intervention
of other parties, such as the government or parliament.

Bank Indonesia has 3 pillars to achieve their goals and it can maintain the stability of the rupiah value.
First, establish and implement monetary policy. The second is to regulate and maintain the smooth
operation of the payment system, and the last is the third to regulate and supervise banking in Indonesia.
In addition, Bank Indonesia also has efforts to restore public confidence in the financial system in
Indonesia with a comprehensive banking restructuring.

As we all know, Indonesia is categorized as a developing country. The economy in Indonesia is still
consider developing , this is what makes Bank Indonesia have to develop their strategy so that the
economy in Indonesia is getting more advanced day by day. Especially during the current pandemic, it is
very important for Bank Indonesia to keep the financial system in Indonesia stable. And also nowadays
there are often problems with the banking financial system, for example, burglaries that occur at banks in
Indonesia. In my opinion, Bank Indonesia, which has the responsibility and duty to regulate and supervise
banks in Indonesia, should tighten the security they have even more, even though I know that Bank
Indonesia has made every effort to minimize problems that arise in banking, such as Bank Indonesia has
adopted a strategy of macro-prudential monitoring so that Bank Indonesia can closely monitor financial
sector vulnerabilities as well as to detect potential shocks that have an impact on financial system
stability. But for me, Bank Indonesia need continues to develop their strategies until there is no more
news about bank burglaries. So for my conclusion is Bank Indonesia has carried out their duties and
responsibilities with full responsibility and I also hope that in the future Bank Indonesia can provide even
more security to the community.