Bank Indonesia (BI) provides the need for circulation-worthy Rupiah for people in West Papua, reaching IDR415 billion in the Ramadan / Eid al-Fitr period 2021.
The head of the West Papua Bank Indonesia representative, Rut W. Eka Trisilowati, said that the estimate had taken into account anticipated needs during the month of Ramadan, Eid al-Fitr holidays, as well as Government policies and stimuli to the community during the period of handling the impact of the Covid-19 pandemic.
"The need for Rupiah currency worthy of circulation in the HBKN period has increased compared to the same period in 2020 amounting to Rp164 billion and in 2019 amounting to Rp310 billion," said Eka in a press release, Saturday (27/3/2021).
Eka said Bank Indonesia West Papua noted that the need for money fit for circulation in the province showed an increase ahead of Ramadan and Idul Fitri compared to previous months.
This condition is in line with the increase in transactions that occur in order to meet the preparation needs during the fasting month and Eid al-Fitr.
"Responding to these conditions, Bank Indonesia West Papua has prepared the HBKN moment, among others, coordination with the banking sector, so that the need for Rupiah currency in the Province can be fulfilled in sufficient quantities, the right type of denomination, on time, and in conditions fit for circulation," he said.
On the other hand, the provision of Rupiah currency fit for circulation in sufficient quantities and denominations is part of the efforts to control inflation in order to provide the Rupiah denomination needed by the public in buying and selling transactions.
He said the Covid-19 pandemic was also a consideration for Bank Indonesia West Papua, so that money exchange services for people who are usually served through exchanges in public locations such as traditional markets, at this time of year will be served through all banking branch office counters in West Papua.
"Of course we ask banks to provide these services to uphold the health protocol and prevention of COVID-19," he said.
Previously, the Financial Services Authority or OJK reported that the development of the financial services industry in West Papua province in 2020 was quite good based on managed statistical data.
Adolf F.T. Simanjuntak, the head of the OJK for Papua and West Papua Provinces, said that as of December 31, 2020, West Papua Commercial Bank credit growth (yoy) was 4.17 percent with credit disbursement of IDR 13.83 T.
"Commercial bank credit growth in West Papua is better than national credit growth, which grew negatively by 2.41 percent (yoy)," he said, Friday.
He also said that the assets of commercial banks in West Papua Province yoy in 2020 experienced negative growth or tended to be stable with a growth of -0.45 percent to IDR 25.99 T.
SOURCE: https://jubi.co.id/bi-papua-barat-s Provid-rp415-miliar-siap-edar-untuk-sambut-ramadan-dan-idul-fitri-2021/
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