Penulis
Qanita Alya Nafisa
ABSTRAK
The ASEAN Banking Integration Framework (ABIF) was established to promote regional financial integration and create a more competitive and stable banking environment within the ASEAN Economic Community (AEC). The framework allows banks that meet prudential and governance standards, known as QABs, to operate across member states through bilateral agreements. However, implementation has varied widely among ASEAN countries. Indonesia has adopted a cautious approach, reflecting its long-standing emphasis on financial sovereignty and stability. This paper examines the legal and institutional reasons behind Indonesia’s slow participation in ABIF and how domestic regulations interact with regional commitments. The discussion explores three main areas: the structure of ABIF as a cooperative rather than a supranational framework; Indonesia’s legal architecture under Law No. 7 of 1992 on Banking, Law No. 21 of 2011 on the Financial Services Authority (FSA LAW, and the Law No. 4 of 2023 on Financial Sector Development and Strengthening (P2SK Law); and the broader regional disparities that limit mutual recognition. The analysis finds that Indonesia’s prudential and protective laws, while effective in maintaining financial stability, slow the process of regional integration. The paper concludes that Indonesia can reconcile national and regional interests through gradual legal adaptation, enhanced regulatory cooperation, and measured liberalization that preserves both stability and ASEAN’s collective progress.