Ada Pertanyaan? Hubungi Kami 
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Ada Pertanyaan? Hubungi Kami Fathan Qorib, Christina Desy
As part of its management of the circulation of banknotes, Bank Indonesia (“BI”) recently issued a policy package on electronic money (“e-money”), to encourage Indonesian citizens to increase the use of e-money.
BI believes that the increased use of e-money will also significantly contribute to national economic growth as it will reduce the so-called “shadow economy”—the part of an economy involving goods and services which are paid for in cash and not declared for tax purposes.
This was the view expressed by Susiati Dewi, Assistant of BI’s Executive Board of Directors for its Payment Systems Department, during a seminar in Jakarta last Tuesday.
Mrs. Dewi said that Indonesia still relies on cash transactions, including for some government expenses. As a result, banknotes are being used excessively and are not properly tracked therefore supporting the shadow economy.
By using E-money, as Mrs. Dewi explained, transactions are electronically registered and can be easily tracked by the respective institutions. To that extent, the shadow economy should decrease with an increase in the use of electronic transactions. Further, once underground money practices are eradicated, Indonesian’s economy should expand more rapidly.
“There will be no developed country if the shadow economy still exists,” Mrs. Dewi emphasized.
Mrs. Dewi’s view is shared by Bambang Heru Tjahyono, Director General of Informatics Application at the Ministry of Communication and Information Technology. He agrees on the advantages of using e-money, specifically in reducing the shadow economy.
To ensure the success of e-money transactions, Mr. Tjahyono asserted the importance of implementing the foundation regulation Government No. 82 of 2012 on Organizing Electronic Systems and Transactions which sets out the obligations e-money/transactions businesses.
Elaborating further, Mr. Tjahyono explained that e-money businesses will be held responsible for hacking problems that arise with any electronic transactions through their network. Additionally, e-money businesses will assume the burden of proof cases of misuse of electronic signatures.
(hot/kc)
Fathan Qorib, Christina Desy
As part of its management of the circulation of banknotes, Bank Indonesia (“BI”) recently issued a policy package on electronic money (“e-money”), to encourage Indonesian citizens to increase the use of e-money.
BI believes that the increased use of e-money will also significantly contribute to national economic growth as it will reduce the so-called “shadow economy”—the part of an economy involving goods and services which are paid for in cash and not declared for tax purposes.
This was the view expressed by Susiati Dewi, Assistant of BI’s Executive Board of Directors for its Payment Systems Department, during a seminar in Jakarta last Tuesday.
Mrs. Dewi said that Indonesia still relies on cash transactions, including for some government expenses. As a result, banknotes are being used excessively and are not properly tracked therefore supporting the shadow economy.
By using E-money, as Mrs. Dewi explained, transactions are electronically registered and can be easily tracked by the respective institutions. To that extent, the shadow economy should decrease with an increase in the use of electronic transactions. Further, once underground money practices are eradicated, Indonesian’s economy should expand more rapidly.
“There will be no developed country if the shadow economy still exists,” Mrs. Dewi emphasized.
Mrs. Dewi’s view is shared by Bambang Heru Tjahyono, Director General of Informatics Application at the Ministry of Communication and Information Technology. He agrees on the advantages of using e-money, specifically in reducing the shadow economy.
To ensure the success of e-money transactions, Mr. Tjahyono asserted the importance of implementing the foundation regulation Government No. 82 of 2012 on Organizing Electronic Systems and Transactions which sets out the obligations e-money/transactions businesses.
Elaborating further, Mr. Tjahyono explained that e-money businesses will be held responsible for hacking problems that arise with any electronic transactions through their network. Additionally, e-money businesses will assume the burden of proof cases of misuse of electronic signatures.
(hot/kc)