History
Bank Indonesia was founded on 1 July 1953 from the nationalization of De Javasche Bank, a Dutch bank dating from colonial times.
For the next 15 years, the Bank of Indonesia carried on commercial activities as well as acting as the nation’s bank.
This came to an end with the Law No.13/1968 on the Central Bank, which was subsequently replaced by Law No.23/1999, giving the bank independence.
Thereafter, the bank reported to the parliament (People's Representative Council) instead of the president, and the bank’s governor was no longer a member of the cabinet.
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Famous quotes containing the word history:
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