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Ada Pertanyaan? Hubungi Kami ANT, Robert Sidauruk
Bank Indonesia (BI) is currently prioritizing the drafting process on a regulatory framework on ASEAN Banking Integration. This work is expected to be completed by years end as part of efforts to accommodate the implementation of the ASEAN Economic Community (AEC) in late 2015.
“The integration of the banking industry has become matter of national importance and has been set as a priority,” said Agus Martowardojo, BI Governor in Kuta, Bali on Wednesday.
Mr. Martowardojo further indicated that the final steps for integrating into the ASEAN banking industry has not been completed as BI only approved the plan earlier this year. The reason for the delay was BI’s intention to ensure all banking regulators in ASEAN countries were committed to implement the integration under the reciprocity principles.
“We want to create a good condition for the banking industry and all banking regulators in ASEAN countries should commit to implementing the reciprocity principle, market access principle, and national treatment,” added Mr. Martowardojo.
Mr. Martowardojo believes that the integration project can provide an entry point basis for Indonesian banks to enter the international market by initially expanding their business into the ASEAN countries. Under the reciprocity principle, Indonesia will welcome prospective investors from ASEAN countries to enter Indonesia with equal treatment of Indonesian banks with by other ASEAN countries.
Responding to the recent mega mergerin Malaysia between CIMB—the second largest bank in Malaysia—, RHB Capital, and the Malaysia Building Society, an undertaking made in anticipation of the AEC, Mr. Martowardojo explained that BI will determine a national banking industry strategy for the AEC when finalizing the integration plan.
“When the framework for banking industry integration is agreed, Indonesia will balance Malaysia’s readiness to welcome the AEC by expanding the market to other ASEAN countries,” said Mr. Martowardojo.
(hot/kc)
Bank Indonesia (BI) is currently prioritizing the drafting process on a regulatory framework on ASEAN Banking Integration. This work is expected to be completed by years end as part of efforts to accommodate the implementation of the ASEAN Economic Community (AEC) in late 2015.
“The integration of the banking industry has become matter of national importance and has been set as a priority,” said Agus Martowardojo, BI Governor in Kuta, Bali on Wednesday.
Mr. Martowardojo further indicated that the final steps for integrating into the ASEAN banking industry has not been completed as BI only approved the plan earlier this year. The reason for the delay was BI’s intention to ensure all banking regulators in ASEAN countries were committed to implement the integration under the reciprocity principles.
“We want to create a good condition for the banking industry and all banking regulators in ASEAN countries should commit to implementing the reciprocity principle, market access principle, and national treatment,” added Mr. Martowardojo.
Mr. Martowardojo believes that the integration project can provide an entry point basis for Indonesian banks to enter the international market by initially expanding their business into the ASEAN countries. Under the reciprocity principle, Indonesia will welcome prospective investors from ASEAN countries to enter Indonesia with equal treatment of Indonesian banks with by other ASEAN countries.
Responding to the recent mega mergerin Malaysia between CIMB—the second largest bank in Malaysia—, RHB Capital, and the Malaysia Building Society, an undertaking made in anticipation of the AEC, Mr. Martowardojo explained that BI will determine a national banking industry strategy for the AEC when finalizing the integration plan.
“When the framework for banking industry integration is agreed, Indonesia will balance Malaysia’s readiness to welcome the AEC by expanding the market to other ASEAN countries,” said Mr. Martowardojo.
(hot/kc)
ANT, Robert Sidauruk
Bank Indonesia (BI) is currently prioritizing the drafting process on a regulatory framework on ASEAN Banking Integration. This work is expected to be completed by years end as part of efforts to accommodate the implementation of the ASEAN Economic Community (AEC) in late 2015.
“The integration of the banking industry has become matter of national importance and has been set as a priority,” said Agus Martowardojo, BI Governor in Kuta, Bali on Wednesday.
Mr. Martowardojo further indicated that the final steps for integrating into the ASEAN banking industry has not been completed as BI only approved the plan earlier this year. The reason for the delay was BI’s intention to ensure all banking regulators in ASEAN countries were committed to implement the integration under the reciprocity principles.
“We want to create a good condition for the banking industry and all banking regulators in ASEAN countries should commit to implementing the reciprocity principle, market access principle, and national treatment,” added Mr. Martowardojo.
Mr. Martowardojo believes that the integration project can provide an entry point basis for Indonesian banks to enter the international market by initially expanding their business into the ASEAN countries. Under the reciprocity principle, Indonesia will welcome prospective investors from ASEAN countries to enter Indonesia with equal treatment of Indonesian banks with by other ASEAN countries.
Responding to the recent mega mergerin Malaysia between CIMB—the second largest bank in Malaysia—, RHB Capital, and the Malaysia Building Society, an undertaking made in anticipation of the AEC, Mr. Martowardojo explained that BI will determine a national banking industry strategy for the AEC when finalizing the integration plan.
“When the framework for banking industry integration is agreed, Indonesia will balance Malaysia’s readiness to welcome the AEC by expanding the market to other ASEAN countries,” said Mr. Martowardojo.
(hot/kc)
Bank Indonesia (BI) is currently prioritizing the drafting process on a regulatory framework on ASEAN Banking Integration. This work is expected to be completed by years end as part of efforts to accommodate the implementation of the ASEAN Economic Community (AEC) in late 2015.
“The integration of the banking industry has become matter of national importance and has been set as a priority,” said Agus Martowardojo, BI Governor in Kuta, Bali on Wednesday.
Mr. Martowardojo further indicated that the final steps for integrating into the ASEAN banking industry has not been completed as BI only approved the plan earlier this year. The reason for the delay was BI’s intention to ensure all banking regulators in ASEAN countries were committed to implement the integration under the reciprocity principles.
“We want to create a good condition for the banking industry and all banking regulators in ASEAN countries should commit to implementing the reciprocity principle, market access principle, and national treatment,” added Mr. Martowardojo.
Mr. Martowardojo believes that the integration project can provide an entry point basis for Indonesian banks to enter the international market by initially expanding their business into the ASEAN countries. Under the reciprocity principle, Indonesia will welcome prospective investors from ASEAN countries to enter Indonesia with equal treatment of Indonesian banks with by other ASEAN countries.
Responding to the recent mega mergerin Malaysia between CIMB—the second largest bank in Malaysia—, RHB Capital, and the Malaysia Building Society, an undertaking made in anticipation of the AEC, Mr. Martowardojo explained that BI will determine a national banking industry strategy for the AEC when finalizing the integration plan.
“When the framework for banking industry integration is agreed, Indonesia will balance Malaysia’s readiness to welcome the AEC by expanding the market to other ASEAN countries,” said Mr. Martowardojo.
(hot/kc)