REPUBLIKA.CO.ID, JAKARTA - Indicative budget proposed by Indonesian Financial Services Authority (FSA) in Indonesia will increased in 2014. The amount will increase 46.37 percent, from 1.6 trillion IDR in 2013 to 2.418 trillion IDR in 2014.

"The budget will be allocated for administrative activities and remuneration worth 1.495 trillion IDR or increases from 775 billion IDR in 2013," Chairman of FSA, Muliaman D Hadad said  on Wednesday.

The budget will also be used to recruit new employees as well as equalization payments for employee’s salary which using standard of Bank Indonesia (BI). Budget for field operations and supervision of the banking sector regulation will be worth 278.96 billion IDR. The money will be used for the transfer of duties, functions and powers of regulation and supervision of the banking sector, from BI to FSA.

FSA's budget in 2014 has got approval by the House of Representatives. The increase is based on enhancement of human resources and technological systems. FSA's employees will increase 1,300 people from BI. FSA will also provide remuneration to improve the quality of employment. 

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