In October last year, the International Monetary Fund and the World Bank Group launched the Bali Fintech Agenda, a set of 12 policy elements aimed at helping member countries to harness the benefits and opportunities of rapid advances in financial technology that are transforming the provision of banking services, while at the same time managing the inherent risks.
This framework shall be largely considered and used as a guide as we develop our own national strategy and accompanying policies. There is no guarantee that we will be able to address all of the risks associated with innovative financial products and services.