ronald waas : “ implementation of use of bi - rtgs system in money settlements for transactions in the capital market ” speech by mr ronald waas, deputy governor of bank indonesia, at an event entitled “ dissemination of mandatory use of rupiah within the republic of indonesia ”, bank indonesia, jakarta, 15 june 2015. * * * distinguished : • heads of banks in indonesia ; • chairs or representatives of banking associations or organizations in indonesia ; • heads of departments of bank indonesia ; • ladies and gentlemen. good morning and may god bless us all 1. to begin our event this morning, i would like to invite all of us to praise god the almighty for giving us the opportunity to meet in this favorable occasion titled “ dissemination of mandatory use of rupiah within the republic of indonesia ”. 2. today, we invite you to have a discussion to establish the same perception and improve our understanding on banking, as well as disseminate and educate on the implementation of mandatory use of rupiah within the republic of indonesia. we are aware that the enforcement of the regulation on mandatory use of rupiah within the republic of indonesia ( bi regulation no. 17 / 3 / pbi / 2015 dated 31 march 2015 and bi circular no. 17 / 11 / dksp / 2015 dated 1 june 2015 ) is of significant importance for today ’ s attendees and the community. the reason is the use of rupiah closely relates to economic activities in general, primarily payment transactions in indonesia. ladies and gentlemen, 3. i consider the awareness of mandatory use of rupiah within the republic of indonesia is based on three significant main dimensions and determines our identity as a nation. 4. first, legal dimension. this is not a new regulation enforced by bank indonesia. since 2011, we already have a currency law, regulating rupiah as one of the symbols of state sovereignty which must be respected and honored by all indonesian people. the establishment of bank indonesia regulation related thereon is expected to promote strengthening and purifying payment transactions within the republic of indonesia by the use of rupiah. 5. various other regulations have been established, such as law on the flow of foreign exchange, law on special economic zones, presidential regulation on the blueprint of national logistics system development, regulation of minister of trade on inclusion of prices and tariffs of goods and services, and many other relevant regulations on rupiah, all of which provide a very strong foundation for the use of rupiah

s budi rochadi : currency operations and management opening address by dr. s. budi rochadi, deputy governor of bank indonesia, at the seacen seminar on currency operations and management, bali, 12 august 2009. * * * distinguished speakers, honourable guests, respected participants, ladies and gentlemen, assalamu ’ alaikum wr. wb. and good morning. i am delighted to be here this morning to welcome all of you to the seacen seminar on currency operations and management on this beautiful island of bali. before i begin, i would like to ask you all to join our hands together and thank the almighty because it is only due to his blessings that we could gather here to attend the seminar in good health and excellent condition. this seminar is intended to further enhance knowledge sharing among seacen members as well as between central bankers and industry in all pertinent issues of currency operation and management. ladies and gentlemen as we are all aware, the very traditional responsibility of a central bank is to issue and distribute currency to serve the country ’ s economy. it is hardly imaginable a modern economy could function smoothly without any cash transaction. regardless of our achievement in advancing non - cash payment system, cash still remains a critical payment instrument. fulfilling this responsibility is indeed not a simple thing. there are so many challenges in assuring that the society ’ s need of adequate currency in terms of quantity and quality for every denomination is met. this only can be achieved if we have an accurate demand for currency forecasting, a smooth currency procurement, and a reliable currency distribution system, which can cater any geographical condition and public preference for the currency. i am quite sure that all of the issuing authorities from seacen members are facing difficulties in conducting this task. even though the problems could vary between countries, there is one thing among others that we share in common that is the accompanying problem with the rise in the number of population. in our case, this task is not made any easier by the fact that the indonesia ’ s estimated population of around 240 million at the end of 2008 is spreading in almost a thousand inhibited islands. another important issue that the central bank and issuing authority have to deal with considering its severe impact on the economy is the counterfeiting activity. nowadays counterfeiters are becoming more advanced. to cope with that the central bank needs to increase their vigilance by continuously improving the security features of the currency to give protection and assurance to the public holding the currency