Bank Indonesia and Ministry of Indonesian Migrant Workers Protection Sign Agreement to Enhance Consumer Protection for Indonesian Migrant Workers

Strategic Insights -

Bank Indonesia (BI) and the Ministry of Indonesian Migrant Workers Protection (P2MI) signed a cooperation agreement to enhance consumer protection for Indonesian migrant workers in the field of payment systems. The agreement aims to strengthen Indonesia's foreign exchange reserves and balance of payments stability by promoting remittance, which supports the welfare of migrant workers and their families. As part of this collaboration, BI created the JariPMI.Info website to provide essential information for Indonesian migrant workers, including details on destination country profiles, administrative and document requirements, culture, Indonesian communities, safe remittance services, financial education, and consumer protection.

Key Takeaways:

  • Bank Indonesia (BI) and the Ministry of Indonesian Migrant Workers Protection (P2MI) signed a cooperation agreement to enhance consumer protection for Indonesian migrant workers in the field of payment systems.
  • The agreement aims to strengthen Indonesia's foreign exchange reserves and balance of payments stability by promoting remittance.
  • BI created the JariPMI.Info website to provide essential information for Indonesian migrant workers, including details on destination country profiles, administrative and document requirements, culture, Indonesian communities, safe remittance services, financial education, and consumer protection.
  • The website allows migrant workers to file complaints regarding payment systems through a connected complaint submission portal.
  • BI is also making efforts to educate migrant workers, prospective migrant workers, and Indonesian migrant worker placement companies about the Care, Recognize, and Report principles.
  • The Care, Recognize, and Report principles encourage migrant workers and their families to enhance their financial literacy and protect their personal data.

Statistics:

  • The agreement aims to strengthen Indonesia's foreign exchange reserves and balance of payments stability.
  • Remittance supports the welfare of migrant workers and their families.
  • The JariPMI.Info website provides essential information for Indonesian migrant workers.
  • The care, recognize, and report principles are being promoted through BI's education and awareness programs.

Sources:

  • Bank Indonesia (BI)
  • Ministry of Indonesian Migrant Workers Protection (P2MI)
  • Imamatul Silfia, Translator
  • Raka Adji, Translator
  • M Razi Rahman, Editor
  • ANTARA News Agency