The fourth most populous country in the world spread across more than 6000 islands, banks have struggled to reach out beyond Indonesia's big cities up to now. However, a digital transformation is gripping the country, bringing with it the promise of huge increase in financial inclusion. Stefania Palma reports.
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Indonesia’s financial supervisory authority has been rolling out reforms to deepen the local currency bond market. Now, the country’s national infrastructure investment plans could help the sector expand further, as Stefania Palma reports.
As finance minister of Indonesia, one of Sri Mulyani Indrawati’s priorities is to boost government revenue by tackling low tax receipts. These are caused by an overly complicated system – but modifying regulation will be a slow process. Meanwhile, she has major industries that are paying relatively low levels of tax in her sights, as Stefania Palma reports.
Indonesia’s newly appointed finance minister explains why she returned to her home country to take up the role, and outlines her economic policy objectives.
After a turbulent 2015, faith in Asia’s economies was strong at the Asian Development Bank annual meeting in Frankfurt, despite falling exchange rates and capital outflows. Stefania Palma reports.
Vietnam is on its way to becoming a heavyweight presence in south-east Asia, with the top ranking for asset growth, while Indonesia retains its crown as the most profitable country in the region.
Indonesia's minister of finance discusses the country's efforts to achieve a sustainable growth path. Budget reforms and fiscal stimulus have already been pushed through. But to tackle the question of poor infrastructure, the government needs more than increased investment.
As the Association of South-east Asian Nations enters the last year in the run-up to its planned economic integration, Singapore, Thailand and Malaysia are on track to harmonise their capital markets, while others are dragging their feet.
There might not be much movement among the top positions in this year’s Top 100 Association of South-East Asian Nations Banks ranking, but Filipino lenders are on the rise, while Indonesia’s banks boast the highest returns.
Indonesia's banking sector holds much promise, thanks in large to the country's vast unbanked population. And with a new, business-friendly president in Joko Widodo, hopes are high that it can finally realise this vast potential.