Indonesia Needs International Banking Services: President Jokowi
Date 15 Maret 2018
President Joko Jokowi Widodo on Thursday (15/3) at the Merdeka Palace, Jakarta met with chiefs of national banks in Indonesia. During the meeting, the President reminded the leaders about competitive banking industry.
Today the customers are free to choose any financing and funding product. the President said.
President Jokowi also encouraged national banks to be ready to win an open competition with international banking services. According to the President, Indonesia needs international banking services; otherwise, customers will deposit their money in offshore banks. The President also urged national banks to beware of tougher competition in the years ahead.
On that occasion, President Jokowi also talked about the story one of the largest banks in the world that provided capital injection to its subsidiary in Indonesia last year and about 10 years ago, it acquired a medium scale bank in Indonesia. Last year, the President added, the bank merged with its subsidiary and became a bigger bank. After the merger, the bank became one of 15 largest banks in Indonesia. President Jokowi said, adding that the story reflects trust from international business community.
The President further said that last year S & P (Standard and Poors) lift Indonesian credit rating to investment grade while Fitch Ratings raised Indonesian credit rating from BBB- to BBB last December. Furthermore, two weeks ago US News and World Report magazine conducted an international survey on most attractive countries to invest and Indonesia ranked second in the world. The survey involved 21,000 respondents, 6000 of whom are executive decision makers.
Also present at the meeting were Coordinating Minister for the Economy Darmin Nasution, Minister of Finance Sri Mulyani Indrawati, Minister of State Secretariat Pratikno, Presidential Chief of Staff Moeldoko, OJK Chairman Wimboh Santoso, and representatives of Indonesian bankers. (FID/OJI/ES) (RI/EP/Naster)