1  2  TABLE OF CONTENT  3  Global Economic Performance and Outlook: Divergent Recovery, Persistent Financial Market Uncertainty  6  National Economic Performance and Outlook: The Recovery Process Continues, Stability is Maintained  16  Bank Indonesia Policy Mix 2021: Encouraging National Economic Recovery, Maintaining Stability • Rupiah Exchange Rate Stabilization Policy • Monetary Policy Stimuli • Macroprudential Policy Easing • Acceleration of Payment System Digitalization • Accelerating Money Market Deepening • Empowerment of Sharia Economy and Finance and MSMEs • Strengthening International Policy • Bank Indonesia Transformation  26 28 29 30 32 36 38 41 43  Rise and be Optimistic: Synergy and Innovation for Economic Recovery  44  Bank Indonesia Policy Mix Direction for 2022: Encouraging Acceleration of Economic Recovery, Maintaining Stability • Monetary Policy Direction • Macroprudential Policy Direction • Payment System Policy Direction • Accelerating Money Market Deepening • Inclusive and Green Economic-Financial Policy • International Policy  50 52 54 55 57 58 60  Rise and be Optimistic for an Advanced Indonesia  61  Speech of the Governor of Bank Indonesia BANK INDONESIA’S ANNUAL MEETING Jakarta, 24th November 2021 We are honored to welcome, The President of the Republic of Indonesia, Joko Widodo, Distinguished guests, • Leaders and Members of DPR and DPD RI, • Leaders of State Institutions, • Ministers of the Advanced Indonesia Cabinet, • Chairman and Members of the OJK and LPS Board of Commissioners, • Former Governors and fellow Members of the Board of Governors of Bank Indonesia, • Governors, Mayors and Regents from all over Indonesia, • National Banking, Corporate and Media Leaders, • Recipients of the 2021 Bank Indonesia Awards, • Invitees.
Our Supervision staff are well trained and adequately equipped to carry out the BOU mandate to foster a sound financial system. The second issue relates to the licensing of Islamic banks in Uganda. The Bank of Uganda has received some inquiries for opening Islamic banks or banks which offer Islamic banking products.