House of Representatives finally approved the bill in the currency of law in a plenary session on Monday, granting the Minister of Finance the right to sign the papers of cash.
Although the bill passed without significant changes, has taken the provisions of the proposed re dominate rupee out with the promises made to reconsider the case under the law differently. The Minister of Finance, Agus Martowardojo happiness on the approval of the bill, which was in limbo because of the legislative stalemate on an article of grants and finance ministers the right to sign the papers of cash.
Although the bill passed without significant changes, has taken the provisions of the proposed re dominate rupee out with the promises made to reconsider the case under the law differently. The Minister of Finance, Agus Martowardojo happiness on the approval of the bill, which was in limbo because of the legislative stalemate on an article of grants and finance ministers the right to sign the papers of cash.
Agus said that the law would give government the power of the legal basis of the Department of rupees in the future. The Government has agreed and the Council of Representatives for eight points in the fundamental law, including the drafting of a separate law to regulate the Bank of Indonesia's plans to cut several redenominate rupee zeros from the currency.
The Minister of Finance and the first point of this agreement is the government, along with Bank Indonesia, will sign bills that will be published and circulated according to August 17, 2014, members of the House of Representatives at a plenary meeting in Jakarta.
Second, will the central bank and government coordination of planning and determining the amount of money in circulation. Third world, the two of cooperation in the withdrawal of currency from circulation.
And fourth, and state-owned enterprises as the right to print banknotes Rs. In the case of non-state-owned enterprises are able to perform its function, will be allowed to cooperate with other parties through clear and transparent and accountable.
Fifth, there will be the elimination of counterfeit rupees by the agency in charge of the elimination of counterfeit money. Sixth, there will be a periodic review of the printing and issuance of the currency was withdrawn by the agency of Supreme Audit. He said Agus VII, it must be all the transactions in Indonesia in rupiah, including transactions conducted in the border areas.
Starting today, if you live in the border areas such as Nunukan Batam, Bintan and Atambua, you must use the rupees for transactions. He said that at the present time, many transactions take place in those areas using currencies of neighboring countries, told reporters after the plenary.
Finally, the law provides that the house from the government and the central bank must deliberate on the new law to achieve the government's plan to redominate the rupee. Previously, there were lingering concerns on the decision gives the government the right to sign the bills.
Critics said that in times of crisis when the central bank wants to print more money for public circulation, anti-s fruitful discussion with the government that may arise and hamper the issuance. The approval of the draft law on currency was delayed several times because of extensive discussions to sign additional.
Agus claimed that the law has been crucial since the former have been received in the regulations governing the currency of several laws such as the law in 2010, Bank Indonesia and the State Finance Act, 2003. He said that an integrated law will allow the central bank and the government to improve the management of rupees in the future.
The new law contains provisions covering the General Regulations; detailed description of the type and value of banknotes rupees; to use the properties and design and the materials produced in banknotes Rupee, and the Department of rupees, and the use of funds; rules for the exchange of money; ban; the elimination of counterfeit money, and the investigation of crimes and penalties imposed on the relevant currency.
Number of classes in the law has not changed. There are several changes only to the chapter headings to clarify what you want to explain the seasons. The Currency Bill delayed several times due to lengthy discussions on the need to add the signature of the Minister of Finance on the banknotes.
The Minister of Finance and the first point of this agreement is the government, along with Bank Indonesia, will sign bills that will be published and circulated according to August 17, 2014, members of the House of Representatives at a plenary meeting in Jakarta.
Second, will the central bank and government coordination of planning and determining the amount of money in circulation. Third world, the two of cooperation in the withdrawal of currency from circulation.
And fourth, and state-owned enterprises as the right to print banknotes Rs. In the case of non-state-owned enterprises are able to perform its function, will be allowed to cooperate with other parties through clear and transparent and accountable.
Fifth, there will be the elimination of counterfeit rupees by the agency in charge of the elimination of counterfeit money. Sixth, there will be a periodic review of the printing and issuance of the currency was withdrawn by the agency of Supreme Audit. He said Agus VII, it must be all the transactions in Indonesia in rupiah, including transactions conducted in the border areas.
Starting today, if you live in the border areas such as Nunukan Batam, Bintan and Atambua, you must use the rupees for transactions. He said that at the present time, many transactions take place in those areas using currencies of neighboring countries, told reporters after the plenary.
Finally, the law provides that the house from the government and the central bank must deliberate on the new law to achieve the government's plan to redominate the rupee. Previously, there were lingering concerns on the decision gives the government the right to sign the bills.
Critics said that in times of crisis when the central bank wants to print more money for public circulation, anti-s fruitful discussion with the government that may arise and hamper the issuance. The approval of the draft law on currency was delayed several times because of extensive discussions to sign additional.
Agus claimed that the law has been crucial since the former have been received in the regulations governing the currency of several laws such as the law in 2010, Bank Indonesia and the State Finance Act, 2003. He said that an integrated law will allow the central bank and the government to improve the management of rupees in the future.
The new law contains provisions covering the General Regulations; detailed description of the type and value of banknotes rupees; to use the properties and design and the materials produced in banknotes Rupee, and the Department of rupees, and the use of funds; rules for the exchange of money; ban; the elimination of counterfeit money, and the investigation of crimes and penalties imposed on the relevant currency.
Number of classes in the law has not changed. There are several changes only to the chapter headings to clarify what you want to explain the seasons. The Currency Bill delayed several times due to lengthy discussions on the need to add the signature of the Minister of Finance on the banknotes.
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