Bank Indonesia Optimizes Digital Channels In Bankcentral Services

Illustration (Photo: Doc. Antara)

JAKARTA - Bank Indonesia (BI) is committed to continuing to provide services to central banks, such as letter of credit (L/C), for governments and other strategic stakeholders.

Deputy Governor of BI, Doni P Joewono said, the L/C service plays an important role in international trade that encourages economic growth in the midst of global dynamics.

"Digitalization in the L/C management process is one of the efficiency efforts in the international trade and financial process," he said in a written statement on Tuesday, July 20.

According to Doni, digitalization has been implemented in every service business process to Bankcentral BI.

It is stated that this service at the L/C service, digitalization is carried out in the process of issuing, amending and canceling L/C through the Bank Indonesia (CBS) service application.

"BI also supports the transformation of digital-based integrated licensing services through close synergy with related Ministries/Institutions, including together with the Ministry of Finance and the National Single Window Institute (LNSW) to digitize export and import trading procedures (including the use of Foreign Paper Money), customs features to Export Result Foreign Exchange Reporting, as well as other strategic partners such as OJK, BKPM and related associations," he said.

Doni added that the service to the central bank in question is a form of synergistic joint effort in building the recovery and resilience of the national economy.

"This is important to face the challenges of the economy, geopoliticals and geoeconomics, to support the vision of an Advanced Indonesia," he said.