Japan and Bank Indonesia host seminar

Bank Indonesia and the Japanese Ministry of Economy, Trade and Industry (METI) are to host a seminar entitled “Empowering National Growth through National Credit Information System Development”, in Yogyakarta. This activity represents part of the fourth Indonesia-Japan Joint Economic Forum (JEF) held in 2012, in particular regarding financial access infrastructure development through an enhanced credit information system in Indonesia. At the seminar, a number of topics will be discussed regarding the future direction and development strategy to manage national credit information in Indonesia.

Credit data management is required as part of Bank Indonesia’s policy and strategy to broaden access to funds that is inclusive, fast and affordable to the community as well as micro, small and medium enterprises ( MSME) as well as in response to the growing needs of the financial industry.

Such development falls under the policy framework of the National Credit Information System ( SIPNAS) that aims to minimise the classic problems faced by financial intermediaries when providing funds, namely asymmetric information with using data and information collated from a variety of sources like financial institutions, public agencies and non- financial institutions, thereby creating integrated and comprehensive credit data management.