Journal

: Journal of Central Banking Law and Institutions

Initials

: JCLI

Frequency

: Triannually (January, May, and September)

DOI

: Prefix 10.21098

Online ISSN

: 2809-9885

Print ISSN

: 2827-7775

Editor Chief

: Dr.Perry Warjiyo

Publisher

: Bank Indonesia Institute

Journal of Central Banking Law and Institutions (JCLI) is an international peer-reviewed journal published by Bank Indonesia Institute. JCLI focuses on a range of topics examining the intersection of central banking law and institutions on monetary, financial system, and payment systems that include regulations, governance (transparency & accountability), credibility, institutional politics, institutional arrangements, and institutional communication.
The JCLI’s scope is global, and the journal endeavours to publish high-quality research that contributes to the literature and/or impacts macro-economic policy aimed at enhancing social & economic welfare. Research papers are welcome from central and non-central bank practitioners, academics, and policymakers, regardless of their institutional affiliation and geographic location.

JCLI Visits to Netherlands (Promotion, Collaboration, and Conference)

2024-11-26

Bank Indonesia Institute-PRBI melaksanakan kegiatan JCLI Visits to Netherlands (Promotion, Collaboration, and Conference) pada 19-22 November 2024, dalam rangka promosi jurnal JCLI, pendalaman rencana kegiatan PhD Colloquium, dan penjajagan kerja sama pengembangan sitasi dan ekosistem JCLI serta menjadi salah satu panelis pada Conference ILSEA. Tim Delegasi JCLI dipimpin oleh Ibu Cicilia A. Harun, didampingi oleh Tim Managing Editors JCLI, Dr. Arie Afriansyah dan Dr. R. Dwi Tjahja K. Wardhono.

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ANNOUNCEMENT OF BEST PAPERS ICFP JCLI 2024

2024-10-09

The following two papers have been selected as the best papers presented during the Parallel Session of the 2nd International Conference & Call For Papers Journal of Central Banking Law and Institutions on the 7th of May 2024.

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SIGNING OF COLLABORATION BETWEEN BANK INDONESIA INSTITUTE (BINS) AND THE INDONESIAN ADVOCATES ASSOCIATION (PERADI) FOR MANAGEMENT AND PUBLICATION JOURNAL OF CENTRAL BANKING LAW AND INSTITUTIONS (JCLI).

2024-05-07

SIGNING OF COLLABORATION BETWEEN BANK INDONESIA INSTITUTE (BINS) AND THE INDONESIAN ADVOCATES ASSOCIATION (PERADI) FOR MANAGEMENT AND PUBLICATION JOURNAL OF CENTRAL BANKING LAW AND INSTITUTIONS (JCLI)

A collaboration agreement has been successfully signed between the Bank Indonesia Institute (BINS) and the Indonesian Advocates Association (PERADI) to execute a Collaborative Agreement on the Management and Publication of the Journal of Central Banking Law and Institutions (JCLI). The signing took place at The Mulia, Mulia Resort & Villas, Nusa Dua, Bali on Tuesday, May 7th..

 

Source Informations :

https://www.peradi.or.id/index.php/infoterkini..

PERADI : Signing of MoU between PERADI and Bank Indonesia (JCLI BINS)

PERADI : Penandatanganan MoU antara PERADI dan Bank Indonesia (JCLI BINS)

Gallery Picture : https://www.peradi.or.id/index.php/gallery/detail/52

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ANNOUNCEMENT OF BEST PAPERS ICFP JCLI 2023

2023-06-12

The following two papers have been selected as the best papers presented during the Parallel Session of the 1st International Conference & Call For Papers Journal of Central Banking Law and Institutions on the 10th of May 2023. Read more..


Vol. 4 No. 1 (2025): Articel Inpress Volume 4 Issue 1

1. DIGITAL CURRENCY DILEMMA: UNVEILING THE DICHOTOMY OF EFFECTIVENESS AND INCLUSIVITY IN INDONESIAS ELECTRONIC MONEY LANDSCAPE

Zahrashafa Putri Mahardika

Abstract

The pervasive influence of technology has transformed many aspects of society, notably reshaping the payment landscape. Traditional cash transactions have evolved with the advent of digital currency, spurred by legislation such as the Law on Strengthening and Developing the Financial Sector. Despite using electronic money for over a decade, its adoption has brought benefits and challenges. However, policy frameworks often need to pay more attention to the diverse needs of society despite the critical role of the payment system. This disregard can be seen in mandatory electronic money usage, which may exclude segments reliant on traditional money due to unequal access to technology. Therefore, this paper will explore the necessity of inclusive policies to ensure equitable digital currency implementation in Indonesia. This research employs a doctrinal research method to elucidate the utilization of technology in currency development and the mechanisms in place to safeguard community interests. The study reveals that prevailing policies and judicial decisions concerning electronic money predominantly prioritise effectiveness, neglecting the crucial aspect of inclusivity. The initial goal of creating electronic money and similar forms was to offer financial access to the unbanked population. In reality, achieving financial inclusion also requires addressing public access to technology, ensuring that the expected financial inclusion is fully realised. The findings underscore the imperative need for more inclusive policies in the realm of currency. As technology continues redefining the landscape of financial transactions, this research advocates for a balanced approach that ensures the effectiveness of electronic money and prioritises inclusivity, thereby safeguarding the community’s diverse interests. The study recommends that policymakers should consider the needs of the unbanked population and ensure that they have access to electronic money services.

 

2. BLOCKCHAIN TECHNOLOGY INNOVATION AS AN OPTIMIZATION OF TRANSACTION SECURITY IN ISLAMIC FINANCIAL INSTITUTIONS

Nur Aisah, Siara Zazkia Juliana Putri, Muhammad Riza Hafizi

Abstract

This research aims to find out how blockchain technology is an effort to optimize transaction security in Islamic financial institutions amidst the challenges currently faced by these institutions, namely: regulation, credit risk, market risk, and sharia compliance risk. This research uses a literature study method, namely a research approach carried out by collecting, reviewing, and analyzing relevant literature as an approach to gain an understanding of how blockchain technology plays an important role as a technology that provides security transactions. The results and conclusions of this research are that blockchain technology can increase transparency, accountability, and efficiency in Islamic finance. The application of blockchain can have a positive impact on transaction records, sharia audits, payments, and financing in sharia financial institutions.

 

3. CBDC ADOPTION: ALIGNING MODEL TECHNOSTRESS INHIBITORS AND PERCEIVED VALUE AMONG INDONESIAN GENERATION Z

Ahmad Febriyanto, Niniek Adenia, Isfiya Annabila, Rizaldi Yusfiarto

Abstract

In this era, all central banks are trying to respond to the increase in Cryptocurrency transactions by establishing a legitimate digital currency service called Central Bank Digital Currency (CBDC). The success of the CBDC program will be closely related to public interest in adopting CBDC. Hence, this study intends to explore the determinants that affect Generation Z. This research involved 239 Generation Z in Indonesia. All data were analysed using Structural Equation Modelling Partial Least Square (SEM-PLS). The test result shows that the main determinants driving Generation Z's interest in adopting CBDC are perceived value (epistemic, monetary, and convenience value) and general trust. Technostress inhibitors (facilitation of literacy and engagement facilitation) tended to influence Generation Z's trust. General trust in this study also shows a partial moderation effect in the relationship between perceived value and intention to use CBDC and a full moderation effect on the relationship between technostress inhibitors and intention to use CBDC. The findings of this study can provide advice to Bank Indonesia that is capable of focusing on increasing the usefulness value of CBDC related to monetary value and the value of the ease of use of CBDC to maintain public trust and increase public interest. in addition, increasing literacy and involvement facilitation in increasing public trust.

 

4. ADVANCING FUTURISTIC DIGITAL BANKING: STRATEGIC ENHANCEMENT AND ROADMAP EXCELLENCE

Kristianus Jimy Pratama

Abstract

The aim of this research is twofold: to rectify misconceptions surrounding banking digitization and to conduct an in-depth analysis of Bank Indonesia and the Financial Services Authority's (OJK) policies concerning the development and enhancement of the banking sector's digitalization. Additionally, this study is designed to formulate a strategic roadmap for the development of banking sector digitization, accompanied by risk mitigation processes. A fundamental misconception identified pertains to the limited understanding of banking digitization as merely the transition from conventional to digital services. This narrow perspective, still embraced by regulatory authorities, adversely impacts national banking industry stakeholders. Employing a normative legal research methodology through extensive literature review, our findings reveal a prevailing tendency towards structural collaboration in policy formulation rather than embracing synergistic approaches. This research underscores the urgency of formulating visionary and flexible policies in the realm of banking digitization. Based on the findings, this study seeks to build the framework for policy formulation by regulation authorities in conducting further studies regarding the direction of policies for the development and strengthening of banking sector digitization.

 

5. REGULATORY AND SUPERVISORY TECHNOLOGY RESEARCH: A BIBLIOMETRIC ANALYSIS

Faturrahman Fachsandy

Abstract

This bibliometric study currently examines paper articles on Supervisory Technology (SupTech) and Regulatory Technology (RegTech). The investigation's main focus was on author trends and keywords. The data was carefully examined from the research article sources that Dimension.ai indexes. 'SupTech' and 'RegTech' were the search terms. Using VOSviewer for bibliometric analysis and a descriptive statistical method, a bibliometric map was discovered. VOSviewer software was used to analyse the development trend of publications related to regulatory technology and supervisory technology. In recent years, there has been a sharp increase in the number of papers published on RegTech and SupTech. Various journals tackle the subject; two of the best are 'Fintech and regtech: Impact on regulators and banks' by Ioannis Anagnostopoulos and 'The Role of Big Data, Machine Learning, and AI in Assessing Risks: A Regulatory Perspective' by Scott W. Bauguess. The terms that are most frequently used include regulation, supervision, compliance, finance, and technology. Furthermore, over the past ten years, Douglas W. Arner and Simone Di Castri have authored the most articles of any authors. Challenge and Study are two of the most commonly cited keywords in this theme. Digitalisation is critical in today's world and presents a challenge for practitioners and researchers. Academics working in the field of RegTech and SupTech can find relevant information in this study, which gives an overview of keyword trends and the most popular writers in publications on the subject.

 

6. THE IMPACT OF DIGITAL INNOVATION ON E-COMMERCE YOUNG CUSTOMER SATISFACTION IN VIETNAM

Minh-Hoa Lea, Que-Nhu Duongb, Hieu-Nghia Nguyena, Quynh-Nhu Aua, Nhat-Nam Phama

Abstract

This study looks at the influence of digital innovation, notably AI-driven chatbots, on e-commerce consumer satisfaction among young customers in Vietnam. It investigates key factors influencing user satisfaction using frameworks such as the Uses and Gratifications (U&G) Theory, Technology Acceptance Model (TAM), and Unified Theory of Acceptance and Use of Technology (UTAUT), including utilitarian, hedonic, technological, and social gratifications, privacy risks, and social influence. This research applies a quantitative method was applied, with data collected by an online survey utilising snowball sampling, yielding responses from 1,007 people aged 18 to 30. SPSS and PLS-SEM tools are used in the statistical analysis. This study finds that utilitarian, hedonic, technological, and social gratifications have a positive and substantial impact on user satisfaction. Besides, when engaging with chatbots, consumers are often affected by suggestions and endorsements from peers and their larger social context. This highlights the significance of peer validation and social dynamics in determining user pleasure. Contract, Privacy Risks did not substantially impact satisfaction, indicating that when engaging with chatbots, customers prioritize practical and emotional advantages above data security concerns. Practical implications include strategically using digital innovation, making reasonable assumptions about privacy risks, and adding social elements to improve consumer satisfaction in Vietnam's thriving e-commerce industry. This study provides valuable insights for companies navigating digital innovation in Vietnam's e-commerce ecosystem and digital banking.

 

7. COMPARATIVE ANALYSIS OF CBDC AND TAX LAW ENFORCEMENT IN SELECTED COUNTRIES

Ressita Ramadhani, Zakka Farisy, Dina Silvia Puteric

Abstract

The purpose of this study is to explore the prospective Central Bank Digital Currency (CBDC) transactions whilst implementing the Automatic Exchange of Information (AEOI) procedures as part of tax law enforcement in Indonesia. The study seeks to address the challenges and opportunities associated with AEOI within a CBDC framework, considering their potential impact on financial transparency, data privacy, and regulatory compliance. Through a normative research method by doing comprehensive review of literature and policy analysis, the research intends to identify best practices from other countries, ASEAN, East Asia, Oceania, The Bahamas, and Sweden, and it aims to develop recommendations for designing an efficient and secure AEOI framework for CBDC transactions in Indonesia. The findings of this study are derived from lessons learnt from selected countries regarding AEOI practices: Australia, Brunei Darussalam, China, Japan, South Korea, Malaysia, New Zealand, and Singapore. Additionally, Sweden and the Bahamas provide inspirational benchmarks for CBDC implementation while simultaneously implementing AEOI. Recommendations are also generated to improve Indonesia's progress towards CBDC and AEOI implementation.

 

Published: 2025-01-15

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GROUP JOURNAL

                                                        
JCLI Journal of Cenral Banking Law and Institutions
BMEB Bulletin of Monetary Economics and Banking Scopus
JIMF Journal of Islamic Monetary Economics and Finance Scopus  
                                                 
       
   

 

Printed ISSN: 2827-7775 | Online ISSN: 2809-9885  

 

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