Source: Untar Public Relations – CS
Every July 5th, the Indonesian nation commemorates Bank Indonesia Day as a milestone in the establishment of the central bank of the Republic of Indonesia. The 72nd Bank Indonesia Day in 2025 serves as a moment to reflect on the long journey of this institution in maintaining national monetary stability, while also raising awareness among the younger generation about Bank Indonesia’s strategic role in the country’s financial system.
Bank Indonesia was officially established on July 5, 1953, replacing De Javasche Bank, which had operated during the colonial era. Since then, Bank Indonesia has shouldered the mandate as the central bank, with the primary tasks of maintaining the stability of the rupiah through inflation control, ensuring the stability of the financial system, and overseeing the smooth functioning of the payment system.
The role of Bank Indonesia has become increasingly important in facing the dynamics of the modern economy, including driving the transformation of the payment system through digitalization—such as the development of QRIS, BI-FAST, as well as inclusive financial literacy programs.
Academic Reflection on the Journey of Bank Indonesia
Professor Ir. Carunia Mulya Firdausy, M.ADE., Ph.D., a lecturer at the Faculty of Economics and Business (FEB) at Untar, in his paper “Bank Indonesia dalam Kebijakan Ekonomi Nasional Mendatang: Quo Vadis?” emphasizes that:
“The commemoration of Bank Indonesia Day is not merely about remembering the founding date of this institution, but also an acknowledgment of BI’s significant contribution in maintaining economic stability, the financial and monetary systems, while simultaneously driving national economic growth.”
Professor Carunia also highlights the importance of Bank Indonesia’s independence as a state institution in accordance with the law, which has helped it navigate through various major crises—from the 1997–1998 monetary crisis to the global financial crisis of 2008.
However, the challenges ahead are becoming increasingly complex, encompassing global uncertainties, geopolitical turbulence, climate change, and the rapid digitalization of the financial system. Therefore, Professor Carunia emphasizes:
“Bank Indonesia needs to continue strengthening macroeconomic stability, enhancing the resilience of the financial system, and promoting sustainable economic growth. This includes expanding financial inclusion, supporting the green sector, and investing in the development of human resources in the financial sector.”
Encouraging the Participation of Academics and Students
The commemoration of Bank Indonesia Day also serves as a call to the education sector to explore, discuss, and disseminate the values of economic stability, financial responsibility, and a culture of financial literacy within society.
As a university that instills values of entrepreneurship and sustainable development, Untar encourages its students—especially those from the Faculty of Economics and Business—to actively engage with issues related to monetary policy, financial inclusion, and the challenges of the digital economy in Indonesia.
Through academic activities, public lectures, seminars, and collaborative research, students are encouraged to gain a deep understanding of how Bank Indonesia’s policies impact the business world, the exchange rate of the rupiah, interest rates, and the daily lives of the community.
Happy 72nd Bank Indonesia Day!
With the spirit of collaboration, Untar is committed to continuously opening opportunities for student participation in scientific forums, community service, and strategic discussions relevant to contemporary economic issues. All of this aims to strengthen the role of the younger generation in building a robust, inclusive, and sustainable national financial system.
(VA/AJ/YS)