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Reuters
Reuters
Business
By Stefanno Sulaiman

Indonesia's new finance laws expand central bank's mandate

FILE PHOTO: Bank Indonesia's logo is seen at its headquarters in Jakarta, Indonesia, January 17, 2019. REUTERS/Willy Kurniawan

Indonesia's parliament on Thursday voted to approve financial legislation that widens the central bank's mandate to include supporting sustainable economic growth and formalise its debt monetisation operations.

Called the "Development and Strengthening of Financial Sector" bill, the new rules are also seen opening the door for ex-politicians to head Bank Indonesia (BI), raising concerns about its independence.

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