- As a result of the ever-increasing number of electronic money transactions which are being completed in Indonesia, the government, along with the Deposit Insurance Corporation (Lembaga Penjamin Simpanan – “LPS”), is being encouraged to consider expanding the LPS’s authority to also cover insurance funds which are stored in the form of electronic money.
- The LPS stated recently that the body is currently in the process of assessing the possibility of guaranteeing electronic money deposits, particularly in relation to the issues of transaction security and social impact. In response, Putri Anetta Komarudin, a member of Commission XI at the House of Representatives, has urged the LPS to expedite this assessment process and to quickly introduce an insurance scheme, as she believes that such a move will undoubtedly increase the electronic money transaction rate, which will, in turn, have a direct effect upon the national economy.
- Bank Indonesia recorded a 37.35% increase in the volume of digital transactions in April 2020, which was primarily the result of the introduction of the government's large-scale social restrictions policy. Moreover, the total amount of banknotes in circulation dropped by 6.06% in May 2020 in comparison with the figure for May 2019. (ANT)
......
Subscribe to read more legal analysis.
Hukumonline Pro Intelligence
Platform AI hukum terpercaya sebagai solusi komprehensif riset Anda
*Syarat dan ketentuan berlaku
Ada Pertanyaan? Hubungi Kami 
Professional Solutions
University Solutions
Pro
My Workspace
Pro AI
Terfavorit
Allex QnA
Pro Compliance
