Banking observers and practitioners of the payment system Arianto Muditomo stated that the success of holding the 2024 General Election which was held throughout this year could increase investor confidence to invest in Indonesia.
"The success of holding this election can also increase investor confidence and encourage investment in the banking sector," said Arianto, quoted by ANTARA, Tuesday, February 13.
In addition, he stated that the holding of the five-year democratic party could also increase financial transactions, credit growth to support electoral logistics supply chains, digitalization of transactions and crowdfunding for campaigns, as well as financial inclusion.
However, he reminded the banking industry to be aware of financial crimes that utilize the banking system during the political year.
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"Specifically, the negative impact of organizing the political year that must be considered is related to financial crimes that take advantage of banks, such as bribery, gratuities, money laundering, and others," said Arianto.
He stated that banks need to anticipate and mitigate these various risks, so that the stability and resilience of the banking industry is maintained.
According to him, the anticipatory and mitigation steps that can be taken are to strengthen the bank's internal system and increase awareness of the risks of financial crimes that may arise during the election period.
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