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Japanese FSA to work with Indonesian regulator

The Japanese Financial Services Authority has decided to ‘co-operate’ with, or more likely instruct, Indonesia’s Financial Services Authority on the subject of financial technology.
The Japanese Financial Services Authority has decided to
‘co-operate’ with, or more likely instruct, Indonesia’s Financial
Services Authority on the subject of financial technology,
according to the Japan Times.
The range of help that Japan is to give Indonesia is sweeping,
taking in not only capital markets (where IT tends to be at its
most expensive) but also banking – including private banking –
and insurance. The reward that Japan hopes to glean from such
help is a necessary improve- ment in infrastructure that can then
support Japanese investment. Indonesian infrastructure, financial
as well as physical, leaves much to be desired.
Japanese officials said to the Wall Street Journal: “If
the new credit facilities succeed, similar arrangements will be
set up with the Philippines.”