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14
April

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Jakarta. The number of fake banknotes circulating in public fell in 2020 compared to the previous year, driven by an increase in digital transactions and the COVID-19 pandemic, a Bank Indonesia (BI) official has said.

“Compared to 2019, fake banknotes found throughout 2020 fell, with their ratio (reaching) five bills out of one million bills. Meanwhile, throughout 2019 compared to the previous year, the average ratio was found to be nine bills out of one million bills of circulated Indonesian rupiahs,” BI’s money management executive director, Marlison Hakim, disclosed during a press conference here on Wednesday.

On account of rising digital transactions, throughout the first quarter of 2021, the fake banknote ratio was found to be very low — two bills out of one million circulated bills, he said.

“So, it (the fall in circulation of fake currency) occurred during the COVID-19 pandemic, also due to increasing digitalization. It strongly led to the fall of fake banknotes found in public,” Hakim noted.

The central bank has carried out preventive activities as part of efforts to anticipate any rise in fake banknote circulation during Eid Al-Fitr 2021, he said. BI continues to improve the quality of components and elements of rupiah’s security, he informed.

The most important preventive measure is educating people by asking them to take care of rupiah banknotes with “acts of love, pride, and understanding”, Hakim said.

“One of the love elements is how our people engage each other to recognize, take care, and keep (the rupiah). We ask people to recognize our rupiah with 3D: to be seen, to be touched, and to be looked up,” he explained.

The act of love for the rupiah is a manifestation of the public’s capability in understanding the rupiah as an official means of payment, the RI’s sovereignty symbol, and people’s unifying tool, he said.

The act of understanding the rupiah is a manifestation of the public’s capability in understanding the rupiah’s role in money circulation, economic stability, and its function as value saver, he added.

The act of pride involves people understanding the rupiah’s function in payment transactions, spending the rupiah, and optimizing the rupiah’s value, he continued.

BI has projected that digital banking transactions will reach Rp32,206 trillion by 2021, or higher than digital transactions of Rp27,036 trillion recorded in 2020.

Furthermore, the central bank has reported that the digital ecosystem, through e-commerce platforms, is fast gaining traction among the public. In February this year, e-commerce transactions touched Rp27.2 trillion, reflecting an increase of 45.28 percent year on year. In terms of volume, transactions surged 107.1 percent (year on year) to reach 174.6 million. (Antaranews)

14
April

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Jakarta. The Indonesian Ministry of Law and Human Rights (Kemenkumham) has urged ASEAN nations to strengthen legal integration in order to get their voices heard in the international community as well as tackle COVID-19.

"In order for this integration to be more stable, credible, and effective, of course, a more binding legal basis is needed," Minister of Law and Human Rights (Menkumham), Yasonna Laoly, said in a statement received in Jakarta on Wednesday.

The integration of ASEAN laws would mean that member nations would need to harmonize their domestic laws and regulations, the minister said. This will strengthen the system and rule of law in the ASEAN region as a whole, he remarked.

The minister said he has realized that the integration of the legal instruments of ASEAN member countries presents its own challenges due to differences in legal systems and practices in each country when it comes to adopting international laws.

However, the legal cooperation between ASEAN countries, which has been initiated since the signing of a free trade agreement in 1992, shows that harmonization is not impossible, he added.

"Since the signing of the Common Effective Preferential Tariff / ASEAN Free Trade Agreement, ASEAN member countries have collaborated to fight trans-national crime, money laundering, human-trafficking, drug smuggling, and piracy," Laoly noted.

Cooperation must also be strengthened in dealing with the COVID-19 pandemic as a global challenge, he stressed.

The leaders of ASEAN countries have joined forces to strengthen the public health emergency sector and post-pandemic recovery plans, he noted.

"This effort requires the collaboration of industry players, the private sector, and stakeholders," he stated.

ASEAN member countries must continue to strengthen their legal and policy frameworks to manage the response to COVID-19, including recovery efforts, he added. (Antaranews)

14
April

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Jakarta. Bank Indonesia (BI) has projected an increase in transactions on various e-commerce platforms ahead of Eid al-Fitr 2021.

"On May 5 (2021), there is Harbolnas (National Online Shopping Day) and ahead of that there will be a lot of promos conducted by e-commerce (businesses). There is some information that transactions in e-commerce will increase, ” head of BI’s payment system policy department, Filianingsih Hendarta, said during an online press conference in Jakarta on Wednesday.

He cited several shopping programs prepared by e-commerce sites, including Tokopedia, which is offering a free postage promo using Go Send, Shopee with its Dancing Blessing 10 Billion program, Blibli with the Ramadan Festival program, and Lazada with the Lazada Amana program.

He said he believes that the various e-commerce shopping programs will boost digital banking transactions, sms banking, and internet banking.

"Digital banking will definitely increase as at Christmas and New Year, sms and internet banking will increase," he explained.

According to Bank Indonesia, digital banking volumes last year climbed to 41 percent while a nominal increase was recorded at  2.7 percent.

"The share in e-commerce, both bank transfers, electronic money and credit, are the methods of payment in e-commerce. Including pay later, it will increase this Eid,” Hendarta projected.

Meanwhile, Bank Indonesia has estimated that digital banking transactions during 2021 will reach Rp32,206 trillion, or higher than in 2020, when the figure was recorded at Rp27,036 trillion.

Bank Indonesia also noted that in February this year, the nominal value of e-commerce transactions reached Rp27.2 trillion, up 45.28 percent (yoy). In terms of volume, transactions increased 107.1 percent (yoy) to reach 174.6 million.  (Antaranews)

14
April

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Jakarta. Manpower Minister Ida Fauziyah acknowledged that Indonesian crew members, especially those working for foreign-flagged fishing vessels, are trapped in modern slavery at sea.

“From time to time, Indonesian crew members, in particular, those aboard fishing vessels, frequently faced some problems. They are trapped in modern slavery at sea,” Fauziyah noted during a web seminar on “Questioning Commitment of Multi-party in Protecting Indonesian Crew Members on Foreign Fishing Vessel” here on Wednesday.

Indonesian crew members were largely faced with problems of fraud, salary suspension, overtime work, and also physical and sexual harassment, the minister revealed.

Since several cases impacted Indonesian crew members on foreign-flagged fishing vessels, an improvement in the governance mechanism for the deployment of vessel crew members is the pressing need of the hour, according to Fauziyah.

The minister highlighted the government’s unwavering efforts to bring about an improvement through regulatory accomplishment derived from Law No.18 of 2017 on the protection of Indonesian migrant workers formed into the government regulation (PP) for deployment and protection of crew members either working for commercial or fishing foreign-flagged vessels.

“We are waiting for the progress. The government regulation draft (RPP) for vessel crew member protection is recently being proposed to the State Secretariat,” Fauziyah stated.

Several cases of human rights violations involving Indonesian crew members took place due to the initial process in the country as a part of the entire process or the crew member deployment mechanism.

“Some problematic points are the processes of granting permit for the company that will deploy the crew members followed by the process of recruitment, data collection, training activity, certification, and then supervision,” she pointed out.

“This improvement necessitates synergy among ministries and institutions to realize better governance for the deployment and protection of our migrant crew members,” Fauziyah affirmed. (Antaranews)

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