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.”