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Indonesia plans "omnibus" bill for financial sector, official says

JAKARTA, Sept 17 (Reuters) - Indonesia is drafting another “omnibus” bill aimed at strengthening and preparing the financial industry for future technology, a finance ministry official said on Thursday.

Officials have used the term “omnibus” bill to refer to a piece of legislation that aims to revise a number of existing laws and tackle various issues in a single vote.

“The omnibus law for the financial sector is still under internal discussion. The government is preparing the regulation,” Febrio Kacaribu, the head of finance ministry’s fiscal policy office, said.

Febrio, in a monthly conference call with the investors, said the bill aimed to “develop and strengthen” the financial industry as well as to “shape them to be more adaptive and responsive to vast development in technology and business practices”. (Reporting by Tabita Diela; Editing by Alex Richardson)

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