Jakarta (ANTARA News) - Bank Indonesia Governor, Agus Martowardojo, has been named "Governor of the Year" of East Asia Pacific by Global Markets, a newspaper which is part of Euromoney Institutional Investor.
The award was presented based on a policy transformation carried out by the central bank, according to a statement from BI, received here on Saturday.
BI claimed that Global Markets had highlighted the transformation of policies that were carried out under the leadership of Agus Martowardojo.
Agus has been considered to be able to boost transparency to meet public expectations.
The transformation, highlighted by Global Markets, was the result of a change in rate policy of Bank Indonesia Rate/BI Rate to BI 7-Day Reverse Repo Rate, which is considered to be able to make interest rate more relevant and capable of being transacted.
"The change in minimum reserve requirement policy from daily to two weeks on average has also been recognized as part of the transformation," it stated.
Other transformation is regarding BI's efforts to boost the deepening of the financial market.
The award presentation ceremony is scheduled to be held in Washington DC on Saturday (Oct 14).
Martowardojo receives the award, along with other award recipients such as Ilan Goldfajn from Brazil (under the Latin America category) and Tarek Amer from Egypt (for Middle East and North Africa).
Source: ANTARA News