Bank Indonesia (BI) and the National Police are teaming up to address an issue in Bali that no doubt a lot of tourists and expats feel strongly about: the security of financial transactions and currency exchange.
There are 122 licensed money changers in Bali (not counting the many money-changing services at banks), but the central bank has seen quite a number of unlicensed money changers operating, reports the Jakarta Post. Sounds about right, we’ve seen some pretty sketchy looking money changers here in Bali.
To address this financial concern, BI and the National Police signed an MoU to cooperate in supervising currency exchanges and financial transactions. Bali saw the second largest amount of currency exchanges after Jakarta as of this September at IDR985 billion a month, reported the Jakarta Post.
“We will have similar cooperation with police offices in other cities, possibly in Surabaya, East Java, and Medan, North Sumatra,” Waas said, as quoted by the Jakarta Post.
Photo: Flickr
