agus d w martowardojo : inauguration of indonesia payment system forum speech by mr agus d w martowardojo, governor of bank indonesia, at the inauguration of indonesia payment system forum ( fspi ), jakarta, 27 august 2015. * * * distinguished, • minister of finance of ri, bambang brodjonegoro • minister of trade of ri, thomas lembong • member of board of commissioners of financial services authority, firdaus djaelani • deputy commissioner for bank supervision financial services authority, mulya e. siregar • deputy governor of bank indonesia, ronald waas • director general for treasury of ministry of finance, marwanto harjowiryono • director general for domestic trade of ministry of trade, srie agustina • director general for application and information of ministry of communication and information, bambang heru tjahjono • chair of indonesia payment system association, darmadi sutanto • officials of ministry of finance, ministry of trade, ministry of communication and information, and financial services authority • heads of working units in bank indonesia • distinguished ladies and gentlemen, assalammualaikum wr wb, good afternoon and may god bless us all, “ salam ” 1. to begin our meeting this afternoon, i would like to invite all of you to praise god the almighty. because of god ’ s blessings, we have the opportunity to gather to witness the inauguration of indonesia payment system forum or fspi. please also allow me to extend my gratitude and appreciation to all parties supporting the process of fspi establishment. 2. as a cross - institutional forum, fspi is expected to become a forum of effective coordination, communication, and harmony between bank indonesia, financial services authority, ministry of finance, ministry of trade, and ministry of communication and information in supporting the implementation and development of payment system in indonesia. 3. with a close synergy through fspi, it is expected that a smooth, safe, efficient, and reliable national payment system for all indonesian people may be realized. furthermore, all stakeholders will also benefit from the planned collaboration. bis central bankers ’ speeches distinguished ladies and gentlemen, “ background of fspi establishment ” 4. following the current development of indonesia ’ s economy, we observe at least 3 ( three ) issues of indonesia ’ s economic management under the international spotlight. first, the ability in execution and implementation of policies. second, transparency in policy

##dependence of economy between nations, various efforts have been made to allow development of more efficient cross - country clearing and settlement mechanism. 23. as we all know, the economic integration trend of asean economic community will affect the dynamic national payment system industry. in order to reduce economic constraints between countries, payment system industry will receive challenges from the regional industries. we need to act on it by increasing competitiveness and bis central bankers ’ speeches service quality in order to create fair competitiveness climate by prioritizing national interests. distinguished ladies and gentlemen, “ objectives of fspi establishment ” 24. the different challenges i mention above require our preparedness. however, we realize that to respond to such challenges, a strong collaboration is needed. 25. the relevant ministries and authorities will play a very important role to establish a better payment system in indonesia. different initiatives by the government may serve as an effective drive, such as by facilitating social support distribution, services related to tax and non - tax state revenue, and efforts to drive transactions through e - commerce. 26. last but not least, the roles of industries to provide infrastructures and services and consumers as the users will definitely serve as a very constructive part for the future development of national payment system, primarily in identifying needs and evaluating development plan feasibility. 27. therefore, we consider it necessary for us to communicate, coordinate, and collaborate in indonesia payment system forum. we consider that ministries, authorities, and institutions you lead play vital and strategic roles to harmonize various regulations, implement joint programs, and formulate the future direction of payment system policies. in addition, with the collaboration, different innovations in payment system are also expected to be made. distinguished ladies and gentlemen, “ closing ” 28. to conclude, i believe that fspi will be able to produce feedbacks, ideas, breakthroughs, and anticipatory ideas in the episode of indonesia ’ s payment system journey in the future. 29. the inauguration and signing of fspi charter today are expected to serve as a symbol of our commitment, where the steering committee and technical committee of fspi are prepared to play their roles optimally. 30. i would like to congratulate the steering committee and technical committee of fspi, and please allow me to hereby inaugurate the establishment of indonesia payment system forum. thank you. wassalamu ’ alaikum wr. wb. bis central bankers ’ speeches