- Indonesian government spokesperson confirms the finance ministry and Bank Indonesia must coordinate fiscal and monetary policies for national stability.
- The Finance Ministry, Bank Indonesia, and Financial Services Authority coordinated economic interests in Indonesia.
Indonesia Pushes International Payment Connectivity via QRIS to Boost Creative Economy
What happened
The Deputy Minister of Creative Economy, Irene Umar, is advocating for enhanced international payment connectivity through the QRIS standard. This initiative aims to provide Indonesian creative economy practitioners with wider access to global markets. The push involves strengthening collaboration between the ministry and Bank Indonesia to facilitate these cross-border payments.
From en.tempo.co
Why it matters
The efforts are focused on developing a globally oriented creative economy ecosystem. By utilizing Bank Indonesia's system for cash flow, the goal is to enable payments from various countries, including those in Asia, to reach Indonesian businesses.
The Finance Ministry, Bank Indonesia, and Financial Services Authority coordinate economic interests in Indonesia. The Indonesian government confirms that the finance ministry and Bank Indonesia must coordinate fiscal and monetary policies for national stability.
From en.tempo.co
Who's involved
- IndonesiaThe island country whose creative economy products are being promoted internationally.
- Bank IndonesiaThe central bank of the Republic of Indonesia, involved in payment facilitation.
- SingaporeA country whose market is being targeted for Indonesian creative economy products.
- Irene UmarThe Deputy Minister of Creative Economy leading the push for international market access.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- IndonesiaSpeculative
The country might see increased market access and revenue streams for its creative economy sector.
How it developed
Newest first. Tap a step to see who reported it.- Bank Indonesia has established payment links for cross-border transactions, utilizing QRIS to manage inbound payment trends with partners including Singapore and Thailand.Sub-event
Indonesian market success driven by product appeal and institutional support for international expansion.1 source
Keep exploring
Part of
The Finance Ministry, Bank Indonesia, and Financial Services Authority coordinated economic interests in Indonesia.Also in this story
- Bank Indonesia and the Financial Services Authority are collaborating on literacy programs and addressing cyber risks in Indonesia.
- The finance ministry appealed to employees to refrain from striking.
- Government settled decades-old BLBI bond debt with central bank.
The entities involved
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Indonesia
island country in Southeast Asia and Oceania
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Bank Indonesia
central bank of the Republic of Indonesia
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Singapore
sovereign island country and city-state in maritime Southeast Asia
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