cover
Article Per Year (5 Year)
All
Home Page
OAI Link
Editorial Team
Contact
Reviewer
Google Scholar
Contact Name
Arie Afriansyah
Contact Email
contact@jcli-bi.org
Phone
+6281288227672
Journal Mail Official
contact@jcli-bi.org
Editorial Address
Bank Indonesia Institute Bank Indonesia D Building, 10th floor, JL. M. H. Thamrin No.2, Jakarta 10350 Indonesia
Location
Kota adm. jakarta pusat,
Dki jakarta
INDONESIA
Journal of Central Banking Law and Institutions
Published by Bank Indonesia Institute
ISSN : 28277775     EISSN : 28099885     DOI : https://doi.org/10.21098/jcli.v2i1
Core Subject : Economy, Humanities, Science, Social,
Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice Social Sciences
Journal of Central Banking Law and Institutions (JCLI) is an international peer-reviewed journal. ​​JCLI publishes triannually. JCLI focuses on a range of topics examining the intersection of central banking law and institutions on the monetary, financial system, and payment systems that include regulations, governance (including transparency & accountability), credibility, institutional politics, institutional arrangements, and institutional communication. The JCLI’s scope is global, and the journal endeavours to publish high-quality research that contributes to the literature and/or impacts macro-economic policy aimed at enhancing social & economic welfare. Research papers are welcome from central and non-central bank practitioners, academics, and policymakers, regardless of their institutional affiliation and geographic location.
Arjuna Subject : Ilmu Sosial - Hukum
Articles 7 Documents
 1 
Search results for , issue "Vol. 1 No. 2 (2022)" : 7 Documents clear
Supervening Events in Indonesian Commercial Contracts and Notes on the UNIDROIT PICC in Relation to COVID-19 Health Crisis Tiurma M. P. Allagan; Dinda R. Himmah; Tazqia Aulia
Journal of Central Banking Law and Institutions Vol. 1 No. 2 (2022)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jcli.v1i2.14

Abstract

The pandemic situation of COVID-19 has been affecting many sectors in our daily life, including law and economics. In regard to this matter, the issue of international commercial contract is significantly affected as well. It is well-known that the pandemic situation could be classified as a supervening event. This could be the basis to a party for not being able to fulfill a contractual obligation, or to postpone the fulfillment of such contractual obligation. However, different approaches of each national law of a State as well as what have been governed by several regulations might lead to multi-interpretation relating to whether COVID-19 shall be classified into force majeure or hardship. As one of UNIDROIT member states, it would be important to examine Indonesia's perspective towards this issue. Notably during the recent situation in which the increasing number of international commercial contracts involving Indonesian parties. This article would examine supervening events on international commercial contracts, especially in the perspective of Indonesian law.
Legal and Institutional Aspects of the Financial Sector in Handling the COVID-19 Pandemic Yunus Husein; Ichsan Zikry
Journal of Central Banking Law and Institutions Vol. 1 No. 2 (2022)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jcli.v1i2.15

Abstract

The Covid-19 pandemic has negatively impacted economic conditions, health, and social activities of the community. This study elaborated on two things. First, the legal aspects of handling the Covid-19 Pandemic. Second, it outlines the aspects of institutions involved in handling the Covid-19 Pandemic. The results of this study show that the legal aspects of the Government in dealing with the Covid-19 Pandemic are through Law No. 2 of 2020. In this regulation, at least two main things are regulated, namely the legal protection of members of the Financial System Stability Committee (KSSK) from lawsuits in exercising their authority and exceeding the deficit limit of 3 percent of GDP, furthermore, regarding institutions involved in handling the Covid-19 Pandemic, it is necessary to strengthen institutions. In this case, the institution in question is included in the KSSK members, because of its large authority in handling the Pandemic, especially for national economic recovery, as well as large state budget allocations.  The strengthening efforts that can be done are First, amendments to Law No. 2 of 2020, especially regarding the protection of the KSSK against claims and exemptions from state financial losses.  Second, the issuance of a PERPPU on supervision and reporting of financial responsibility for handling the Covid-19 Pandemic. Through these institutional strengthening efforts, it is hoped that the handling of the Pandemic, especially in the context of national economic recovery, can run optimally.
The Legal Perspective on Strengthening the Practice of Bank Guarantees in Indonesia: Revisiting the Provisions Related to Payment Ramlan Ginting
Journal of Central Banking Law and Institutions Vol. 1 No. 2 (2022)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jcli.v1i2.16

Abstract

This Article provides the legal perspective of the transaction of bank guarantees in the banking practice in Indonesia. It examines the provisions related to payment for bank guarantees by comparing the provisions related to payment for the bank garansi and that of the standby letter of credit or demand guarantee. The work shows that the bank garansi is dependent guaranty, whereas the standby letter of credit or demand guarantee is independent guaranty. The payment for the bank garansi is based on the actual default, whereas the payment for the standby letter of credit or demand guarantee is based on the statement of default. The primary obligation to pay for the bank garansi is that of the issuing bank or guaranteed party, while the primary obligation to pay for the standby letter of credit or demand guarantee is that of the issuing bank. And, as to the international counter guarantee, the conflicting provisions arise when it is asking the bank garansi as the domestic bank guarantee. The banks, companies and government agencies involved in the transaction of bank guarantees are encouraged to understand the implication of these findings and further prepare the appropriate solution.
Protection of Data Privacy in The Era of Artificial Intelligence in The Financial Sector in Indonesia Sinta Dewi Rosadi; Siti Yuniarti; Rizki Fauzi
Journal of Central Banking Law and Institutions Vol. 1 No. 2 (2022)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jcli.v1i2.18

Abstract

The concept of privacy has broad ramifications, and it is implemented in a number of disciplines, ranging from philosophy to computer science, political science and legal science. This paper covers the impact of artificial intelligence on privacy protection, especially in the finance sector. Privacy protection is associated with control over information about personal data, also known as private information. This research is a normative legal research of analytical nature, and it is conducted by studying and interpreting theoretical matters relating to the principles, conceptions, doctrines and legal norms pertaining to the problems. The results of this research show that the concept of privacy in the era of artificial intelligence in Indonesia is best achieved by combining comprehensive rules with self-regulation to serve as a balancing agent between laws and technology in order to control and fulfill the protection of personal data in the era of artificial intelligence.
Legal Issues of Personal Data Protection and Consumer Protection in Open API Payments Camila Amalia; Esha Gianne Poetry; Mochamad Kemal Kono; Dadang Arief Kusuma; Alex Kurniawan
Journal of Central Banking Law and Institutions Vol. 1 No. 2 (2022)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jcli.v1i2.19

Abstract

Digital financial innovation in Indonesia demands equal disclosure of data and information between banks and financial technology (fintech) companies through the Open API. Bank Indonesia as the authority in the payment system issued a series of regulations to regulate the standardization of Open API Payments to create data disclosure integrity, as well as improve personal data protection and consumer protection in open banking. This paper will review several legal aspects that have emerged, and it will be assessed whether the current provisions have addressed a number of these legal aspects. This paper uses a normative juridical approach with a descriptive analysis specification, which uses laws and regulations as the primary material. Based on research, currently existing regulations have succeeded in addressing the legal aspects of the Open API Payment. However, to strengthen consumer rights in the Open API Payments, it is still necessary to enact a Personal Data Protection Law (PDP Law) and amend the Consumer Law that is more in favor of the interests of consumers.
The Legal Conundrums of the Metaverse Safari Kasiyanto; Mustafa R. Kilinc
Journal of Central Banking Law and Institutions Vol. 1 No. 2 (2022)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jcli.v1i2.25

Abstract

The metaverse gained its momentum after a CEO of the biggest social media made a statement that it would be the next big thing after the Internet. Although there is no single, agreed definition of the metaverse, the common understanding of the metaverse is that the concept combines IoT, AR, VR, XR, and 3D technologies. It is also called the Web 3.0. The market capital and the economic potential of the metaverse are enormous. The market cap was calculated around USD14.8 trillion in October 2021 while the economic potential ranged from USD3,75 trillion to USD12.5 trillion. Hence, it is of importance to discuss the legal aspects of the metaverse. This article is the first to elaborate the legal conundrums of the metaverse in a more proper manner. It includes discussion on the property law and intellectual property law, and whether the time has come to have “a virtual property law”. It also discusses some other legal aspects such as privacy and data protection, contract law and smart contracts, cybersecurity and cyberattacks, monetary and payment systems laws, and regulation of virtual assets (including securities and commodities laws), tax law, anti-money laundering and KYC, and criminal law. To give a more comprehensive view, some governance and ethical issues of the metaverse are also touched upon.
Politicians and Economic Policy During the Pandemic: Evidence from Emerging and Developed Countries Indri Dwi Apriliyanti; Cinintya Audori Fathin
Journal of Central Banking Law and Institutions Vol. 1 No. 2 (2022)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jcli.v1i2.26

Abstract

Our study explores economic policy communication in response to the Covid-19 pandemic crisis. Considering a major role of Twitter in information dissemination, we use tweets as a proxy to examine politicians’ crisis communication strategies in five countries, Australia, Canada, India, Indonesia, and Singapore. By using systematic content analysis approach, the study attested the degree to which SCCT and IRT model can be applied to political realm. We found two strategies, bolstering and mortification, emerge as the most frequently used strategies by politicians. Further, new strategies, i.e information provision and cohesion, as well as new categories, i.e morale boosting, political positioning, and cross border cooperation surfaced which further expanding the SCCT and IRT model in explaining political crisis communication. As this study explores the role of context and situational factors that determine specific strategies, our findings demonstrate no substantial differences among developed and emerging countries. We note the use of combination of bolstering, mortification, and cohesion strategies can be critical for politicians’ career, as they may restore politicians’ reputation, reinforce their political presentation, and foster public trust.

Page 1 of 1 | Total Record : 7

 1 

Filter by Year

2022 2022


Reset
Filter By Issues
All Issue Vol. 2 No. 3 (2023) Vol. 2 No. 2 (2023) Vol. 2 No. 1 (2023) Vol. 1 No. 3 (2022) Vol. 1 No. 2 (2022) Vol. 1 No. 1 (2022)