Bank Indonesia is committed to strengthening Indonesian banking supervision through increased cooperation with banking supervision authorities abroad so that supervision of banking groups operating internationally would be more effective.
Jakarta (ANTARA News) - Indonesia agreed on Wednesday to cooperate with Australia and South Korea in banking supervision.

Bank Indonesia governor Darmin Nasution signed the memorandum of understanding for the cooperation with the chairman of the Australian Prudential Regulation Authority, John Laker, and the chairman of the Financial Services Commission of Korea, Seok-Dong Kim and the governor of the Financial Supervisory Service of Korea, Hyouk-Se Kwon, BI says in a press statement.

"Bank Indonesia is committed to strengthening Indonesian banking supervision through increased cooperation with banking supervision authorities abroad so that supervision of banking groups operating internationally would be more effective," governor Darmin Nasution said.

Darmin said the cooperation is one of the concrete steps taken to follow up the Financial Sector Assessment Program implemented by the World Bank and the IMF in 2009/2010.

"The signing of the MoU is expected to become a good momentum for the institutions concerned to exchange information and increase cooperation in banking supervision so that understanding could be built between supervision authorities and performance of banking industry in the countries concerned could be increased," he said.

Exchange of information between BI and Australia and South Korea include information on the results of banking supervision, implementation of examination of international banks and cooperation during examination process, implementation of supervisory colleges and development of bank supervision in general including establishment of international banks.

Bank Indonesia, the Australian Prudential Regulation Authority, the Korean Financial Services Commission and the Korean Financial Supervisory Service laud the signing of the MoU and believe its implementation would benefit equally to all institutions involved.

In 2010 Bank Indonesia also signed a same MoU with Bank Negara Malaysia, China Banking Regulatory Commission and Monetary Authority of Singapore.

(H-YH)



(T.SYS/B/H-YH/B/H-YH) 20-06-2012 20:47:14

Editor: Ella Syafputri
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