Tue, 08 Mar 2011
From: World Bank
By World Bank
The EITI's long term benefits may include increased investment in the oil and gas sector which will lead to greater energy security for Indonesia

* The Extractive Industries Transparency Initiative (EITI) is an internationally developed standard that promotes oil, gas and mining revenue transparency at the national level
* World Bank and Publish What You Pay Coalition expressed optimism on EITI implementaion during a recent press conference.
* In the short term, EITI is expected to bring better trust between CSOs, government and the extractive industries. In the longer term, it’s expected to build better energy security for Indonesia.

Jakarta, March 2, 2010 - The Extractive Industries Transparency Initiative (EITI) has admitted Indonesia as an EITI Candidate. EITI is an internationally developed standard that promotes oil, gas and mining revenue transparency at the national level. The Initiative is supported by the World Bank.

In February, a press conference was held in Jakarta to announce Indonesia’s candidacy into EITI with speakers such as Anwar B. Ravat, World Bank program manager for EITI as well as Ridaya Laodengkowe, coordinator of “Publish What You Pay Indonesia,” a coalition of 38 Indonesian civil society organizations from 13 resource-rich provinces which support Indonesia’s adoption of EITI. At the press conference, the Publish What You Pay coalition expressed its optimism that the government and the country’s extractive industries would comply with the EITI’s requirement for transparency in revenue reports in the sector. The PWYP Coalition also highlighted the need for the government to build Indonesia’s image as a transparent country open to investment.

Under this global transparency initiative, which was started in 2002, all large oil, natural gas and mining companies operating in participating countries report the amount of tax and non-tax revenue they convey to governments and governments report the amounts of those revenues that they receive from companies. An independent administrator is appointed to cross-check data from the two parties. The results of this reconciliation are published and communicated widely. The entire process is overseen by a multi-stakeholder working group, which includes civil society and industry representatives.

This initiative is expected to bring a number of benefits for Indonesia. Short term benefits may include availability of public information that previously did not exist, bringing better trust between CSOs, government and the extractive industries. Longer benefits may include increased revenue and investment in oil and gas which will lead to better energy security for the country.

Indonesia’s President signed into force Presidential Regulation 26/2010 in April, 2010 which lays out a detailed road map for Indonesia’s implementation of the EITI.



News Search/Filter
Transaction Rates
23 Oct 18
Buy
Sell
AED1
4,145.72
4,145.72
AFN1
200.63
200.63
ALL1
139.96
139.96
AMD1
31.42
31.42
ANG1
8,580.91
8,580.91
AOA1
50.01
50.01
ARS1
417.74
417.74
AUD1
10,769.32
10,769.32
AWG1
8,460.00
8,460.00
AZN1
8,944.48
8,944.48
BAM1
8,957.25
8,957.25
BBD1
7,613.99
7,613.99
BDT1
180.10
180.10
BGN1
8,919.09
8,919.09
BHD1
40,384.05
40,384.05
BIF1
8.50
8.50
BMD1
15,227.98
15,227.98
BND1
10,798.19
10,798.19
BOB1
2,203.42
2,203.42
BRL1
4,131.63
4,131.63
BSD1
15,227.98
15,227.98
BTC1
97,192,114
97,192,114
BTN1
207.29
207.29
BWP1
1,429.78
1,429.78
BYN1
7,258.08
7,258.08
BZD1
7,577.37
7,577.37
CAD1
11,625.05
11,625.05
CDF1
9.36
9.36
CHF1
15,286.35
15,286.35
CLF1
607,951.93
607,951.93
CLP1
22.31
22.31
CNH1
2,193.00
2,193.00
CNY1
2,191.86
2,191.86
COP1
4.93
4.93
CRC1
25.68
25.68
CUC1
15,227.98
15,227.98
CUP1
591.37
591.37
CVE1
157.80
157.80
CZK1
676.18
676.18
DJF1
85.55
85.55
DKK1
2,340.04
2,340.04
DOP1
304.50
304.50
DZD1
128.24
128.24
EGP1
850.29
850.29
ERN1
1,015.34
1,015.34
ETB1
546.12
546.12
EUR1
17,458.47
17,458.47
FJD1
7,076.17
7,076.17
FKP1
19,743.54
19,743.54
GBP1
19,743.54
19,743.54
GEL1
6,223.14
6,223.14
GGP1
19,743.54
19,743.54
GHS1
3,147.29
3,147.29
GIP1
19,743.54
19,743.54
GMD1
308.25
308.25
GNF1
1.67
1.67
GTQ1
1,962.77
1,962.77
GYD1
72.85
72.85
HKD1
1,942.43
1,942.43
HNL1
631.92
631.92
HRK1
2,348.98
2,348.98
HTG1
213.58
213.58
HUF1
54.07
54.07
IDR1
1.00
1.00
ILS1
4,158.11
4,158.11
IMP1
19,743.54
19,743.54
INR1
206.61
206.61
IQD1
12.77
12.77
IRR1
0.35
0.35
ISK1
128.95
128.95
JEP1
19,743.54
19,743.54
JMD1
116.77
116.77
JOD1
21,462.97
21,462.97
JPY1
135.04
135.04
KES1
150.62
150.62
KGS1
222.19
222.19
KHR1
3.73
3.73
KMF1
35.46
35.46
KPW1
16.91
16.91
KRW1
13.44
13.44
KWD1
50,192.58
50,192.58
KYD1
18,275.51
18,275.51
KZT1
41.76
41.76
LAK1
1.78
1.78
LBP1
10.06
10.06
LKR1
88.23
88.23
LRD1
96.90
96.90
LSL1
1,063.21
1,063.21
LYD1
11,016.27
11,016.27
MAD1
1,603.85
1,603.85
MDL1
893.87
893.87
MGA1
4.34
4.34
MKD1
284.05
284.05
MMK1
9.61
9.61
MNT1
6.11
6.11
MOP1
1,886.25
1,886.25
MRO1
42.65
42.65
MRU1
422.99
422.99
MUR1
440.66
440.66
MVR1
985.62
985.62
MWK1
20.94
20.94
MXN1
784.65
784.65
MYR1
3,661.01
3,661.01
MZN1
251.22
251.22
NAD1
1,063.02
1,063.02
NGN1
41.88
41.88
NIO1
474.11
474.11
NOK1
1,845.05
1,845.05
NPR1
129.56
129.56
NZD1
9,980.41
9,980.41
OMR1
39,554.22
39,554.22
PAB1
15,227.98
15,227.98
PEN1
4,567.45
4,567.45
PGK1
4,545.21
4,545.21
PHP1
282.80
282.80
PKR1
114.54
114.54
PLN1
4,066.76
4,066.76
PYG1
2.54
2.54
QAR1
4,182.26
4,182.26
RON1
3,741.80
3,741.80
RSD1
147.38
147.38
RUB1
233.56
233.56
RWF1
17.29
17.29
SAR1
4,058.46
4,058.46
SBD1
1,917.81
1,917.81
SCR1
1,118.88
1,118.88
SDG1
323.16
323.16
SEK1
1,691.99
1,691.99
SGD1
11,031.81
11,031.81
SHP1
19,743.54
19,743.54
SLL1
1.81
1.81
SOS1
26.29
26.29
SRD1
2,041.83
2,041.83
SSP1
116.90
116.90
STD1
0.72
0.72
STN1
710.42
710.42
SVC1
1,740.55
1,740.55
SYP1
29.56
29.56
SZL1
1,063.83
1,063.83
THB1
464.01
464.01
TJS1
1,616.13
1,616.13
TMT1
4,338.48
4,338.48
TND1
5,326.13
5,326.13
TOP1
6,603.94
6,603.94
TRY1
2,687.17
2,687.17
TTD1
2,259.50
2,259.50
TWD1
493.45
493.45
TZS1
6.64
6.64
UAH1
542.20
542.20
UGX1
4.05
4.05
USD1
15,227.98
15,227.98
UYU1
462.89
462.89
UZS1
1.85
1.85
VEF1
0.06
0.06
VND1
0.65
0.65
VUV1
136.99
136.99
WST1
5,812.92
5,812.92
XAF1
26.61
26.61
XAG1
221,787.48
221,787.48
XAU1
18,613,381.89
18,613,381.89
XCD1
5,634.67
5,634.67
XDR1
21,237.22
21,237.22
XOF1
26.61
26.61
XPD1
17,082,642.49
17,082,642.49
XPF1
146.30
146.30
XPT1
12,509,636.07
12,509,636.07
YER1
60.82
60.82
ZAR1
1,062.66
1,062.66
ZMW1
1,301.70
1,301.70
ZWL1
47.23
47.23
Taxation Exchange Rates
31 Aug 16 - 06 Sep 16
USD 1
13,232.00
AUD 1
10,043.30
CAD 1
10,213.70
DKK 1
1,999.40
HKD 1
1,706.22
MYR 1
3,283.28
NZD 1
9,623.63
NOK 1
1,605.23
GBP 1
17,433.70
SGD 1
9,757.68
SEK 1
1,569.45
CHF 1
13,631.10
JPY 100
13,101.00
MMK 1
11.01
INR 1
197.29
KWD 1
43,920.70
PKR 1
126.23
PHP 1
285.00
SAR 1
3,528.53
LKR 1
91.12
THB 1
382.08
BND 1
9,756.53
EUR 1
14,885.50
CNY 1
1,987.61

Okusi Associates: Indonesian Business & Management Services