"I will tell him (Agus) about the homework that has to be done."
Jakarta (ANTARA News) - Outgoing Bank Indonesia (BI) Governor Darmin Nasution said there were still lots of homework that must be done by newly elected BI Governor Agus Martowardojo in the coming five years.

"I will tell him (Agus) about the homework that has to be done. I will talk to him," Darmin Nasution who will end his term of office as the central bank governor on May 22, 2013, said.

Darmin said that among the homework that should be accomplished by the new governor included meeting inflation target, exchange rate of the local rupiah currency, payment system and financial inclusion for the people.

Agus underwent a fit-and-proper test on Monday, and later on Tuesday night The House of Representatives (DPR)`s Commission XI on financial affairs, elected him BI new governor through voting to replace Darmin Nasution.

The Indonesian Banks Association hopes Agus Martowardojo`s election as the new central bank governor would bring a positive stimulus to national economy and increase central bank`s understanding of the national banking industry.

"With the positive stimulus investment atmosphere is expected to be brighter and as Agus hails from banking industry he is expected to be able to improve Bank Indonesia`s understanding of the industry," Perbanas`s general chairman Sigit Pramono said when asked for his response to Agus Martowardojo`s election as the next Bank Indonesia governor here on Wednesday.

He said he hoped Bank Indonesia under Agus Martowardojo, the former president director of state-owned Bank Mandiri, could produce effective macro-prudential policies useful for national economic development.

"Agus is a figure whose integrity is unquestionable. But who ever would be as BI governor he must be able to meet the challenges which are different from the ones faced by the previous governor," he said.

Pramono said there are three big challenges that the new governor would have to meet.

The first challenge is linked to BI`s task following the establishment of the new Financial Service Authorities (OJK).

"Since the presence of the OJK BI will focus on dealing with macro-prudential problems and will no longer regulate and monitor banks," he added.

The second challenge is, he said, the BI governor along with the finance minister, the OJK chief and the head of the Deposit Insurance Agency (LPS) would be responsible for maintaining the stability of the financial system through the Financial System Stability Forum (FKSSK).

"The task is held during normal situation and financial crisis. The task of the BI governor has been confirmed in the OJK law," he added.

Pramono said the third challenge would be securing the transition process of Bank Indonesia`s tasks to OJK.

Agus Martowardojo who is currently finance minister was elected by the parliament through a vote on Monday with 46 votes in favor, seven abstaining and one against.
(Uu.A014/H-YH)

Editor: Priyambodo RH
Copyright © ANTARA 2013