Strengthening policy coordination between the Ministry of Finance, Bank Indonesia, OJK and LPS within the Financial System Stability Committee (KSSK) framework is also increasingly required to ensure the resilience of financial institutions, both individually and system-wide, in the face of arising global and domestic economic shocks.
PAYMENT SYSTEM STANDARDIZATION  REGULATORY REFORM  BI-FAST Integrated Regulatory, Licensing, Supervisory, and Reporting  The Eﬀorts to Find a Balanced Point between Optimizing Onnovation and Maintaining Stability and National Interest  Regulatory Framework Restructurization  Payment Systems Regulatory Reform through Restructuring Regulatory Framework and Drafting Bank Indonesia Regulation (PBI) concerning the Payment System  Regulatory Drafting/ Adjustment  End to End Risk-based  Principle-based  REGULATORY PRINCIPLES Structured  Agile & Forward Looking  Proportional  3 STAGES  FOSTERS INTERCONNECTION, INTEROPERABILITY, AND COMPATIBILITY ASSURES INTERLINK BETWEEN FINTECH AND BANKS MAINTAIN THE LEVEL PLAYING FIELD TO MITIGATE SHADOW-BANKING PRACTICES  2021  Credit Transfer (Phase 1, Stage 1)  2023  Issued Bank Indonesia Regulations (PBI): PBI No.