The rupiah is the official currency of Indonesia. It is issued and controlled by Bank Indonesia. The name "rupiah" is derived from the Sanskrit word for silver, rupyakam (रूप्यकम्). Sometimes, Indonesians also informally use the word perak in referring to rupiah in coins. The rupiah is divided into 100 sen, although high inflation has rendered all coins and banknotes denominated in sen obsolete.
Taxation in Indonesia includes income tax, value added tax and carbon tax.
Bank Indonesia (BI) is the central bank of the Republic of Indonesia. It replaced in 1953 the Bank of Java, which had been created in 1828 to serve the financial needs of the Dutch East Indies.
The first banknotes used in the archipelago that would become Indonesia were that issued by the United East India Company, credit letters of the rijksdaalder dating between 1783 and 1811. Netherlands Indies gulden government credit paper followed in 1815, and from 1827 to 1842 and again from 1866 to 1948 gulden notes of De Javasche Bank. Lower denominations were issued by the government in 1919–1920 and in 1939–1940 due to wartime metal shortages, but otherwise day-to-day transactions were conducted using coinage.
Financial Services Authority is an Indonesian government agency which regulates and supervises the financial services sector. Its head office is in Jakarta.
PT Bank JTrust Indonesia Tbk is an Indonesian bank founded in 2015. The bank is based in Jakarta.
The legal status of cryptocurrencies varies substantially from one jurisdiction to another, and is still undefined or changing in many of them. Whereas, in the majority of countries the usage of cryptocurrency isn't in itself illegal, its status and usability as a means of payment varies, with differing regulatory implications.
Swissindo is an organisation that claims to "work towards eliminating the debt of everyone on Earth". It has been described by legal scholars and journalists as a cult and a scam.
OVO, officially a product of PT Visionet Internasional, is a digital payment service based in Jakarta, Indonesia. It was established in 2017 with an e-money license from Bank Indonesia and in 2019 was Indonesia's top digital payment service. Owned by Grab and local investors, in 2019, OVO became Indonesia's first finance-tech business unicorn.
The Indonesia omnibus law protests were a series of demonstrations and civil disorder against Indonesia's Omnibus Law on Job Creation which was passed on 5 October 2020 as well as President Joko Widodo. Demonstrations had begun on 13 January 2020 while the then-bill, claimed by the government as vital to boosting the country's manufacturing industry and foreign investment, was still being drafted. Protesters were concerned with the law's impact on the protection of the environment and working conditions.
The Job Creation Act, officially Law Number 11/2020 on Job Creation, is a bill that was passed on 5 October 2020 by Indonesia's People's Representative Council (DPR), with the aim of creating jobs and raising foreign and domestic investment by reducing regulatory requirements for business permits and land acquisition processes. Due to its length of 1,035 pages and its coverage of many non-employment sectors, it is also referred to in Indonesia as an omnibus bill. The final draft was changed to 812 pages due to pagination being changed to legal format. After being passed into law, there were various substantial text alterations and deletions, as well as procedural issues, which made its legal status eligible for being formally annulled.
The Law on Sexual Violence Crimes is a law aimed to tackle sexual violence in Indonesia. The bill of the law was proposed on January 26, 2016. The law focuses on the prevention of sexual violence, more rights for victims and to acknowledge marital rape.
Regional Development Banks are a type of bank in Indonesia that is established and owned by the local provincial government. Its purpose is to boost regional development and provide initial capital to the province that private banks would not risk giving, as well as giving basic financial services for the general provincial population. It was first established on 25 March 1960 and regulated under Law Number 13 of 1962 and Law Number 16 of 1999 Decree from the Ministry of Home Affairs. According to the law, the shares of Regional Development Banks are divided into two; priority shares and regular shares. Priority shares ownership must be on the hand of provincial governments, while regular shares can be owned by second-level administrative governments under the respective provinces and individuals. The director of these banks are appointed directly by the governor of the respective provinces and hold the office for 4 years. Provincial governors also have the ability to remove directors from the office for several reasons such as incompetency and corruption, with recommendation from local provincial parliaments. If there is more than one director, the law also states that they are not allowed to be closely related and should not occupy other governmental positions unless recommended. As of 2021, there are 26 regional development banks according to the Financial Services Authority. Not all provinces currently have their own bank, especially newly established provinces such as North Kalimantan and the Bangka Belitung Islands, which both still share ownership of various bank companies with their respective parent provinces.
Bahlil Lahadalia is an Indonesian businessman and politician. He has been serving as Minister of Investment since April 2021, dual-hatted as head of the Indonesian Investment Coordinating Board (BKPM), which he had served since October 2019. He has also served as Minister of Energy and Mineral Resources ad interim since 3 February 2022.
Nusantara Capital City Authority is a cabinet level-agency formed by Indonesian government, working directly under the President of Indonesia. The agency will become a special agency tasked with managing and governing the city of Nusantara, future capital of Indonesia located on East Kalimantan.
Law on State Capital is an omnibus law to relocate capital of Indonesia from Jakarta to Nusantara at East Kalimantan as new capital of Indonesia. The omnibus bill of the law was passed into law on 18 January 2022. and finally commenced on 15 February 2022.
Jimmi Saputra is an Indonesian technology entrepreneur and businessman. He is the founder and CEO of Tiga Digital Token, an Indonesian company that operates a cryptocurrency exchange platform. The company launched a NFT gaming service, which expands on its first project NEFTiPEDiA, a NFT marketplace for creators. Saputra is the founder of DOOiT, an e-wallet platform in Bali, where he serves as the CEO.
Quick Response Code Indonesia Standard is a QR code standard developed by Bank Indonesia (BI) and Indonesian Payment System Association for cashless payments in Indonesia.
The Law on Law Formulation or officially titled Law No. 13/2022 in regards of Second Amendment of Law No. 12/2011 on Law Formulation is a law that enables formulation of omnibus law in Indonesia.
The Act No. 1 of 2023 on Criminal Code, or the 2023 Indonesian Criminal Code, is the new Indonesian criminal code replacing the Dutch-era code. The law is the most expensive and longest ever made in Indonesia, being more than 50 years in the making since formulation until finally commenced by the Indonesian government.
