Indonesian Banking in the Era ASEAN Single Market 2015

The era of the 2015 ASEAN single market for new banking sector will be realized in 2020 but Indonesia does not have enough preparation for it. Indonesian banking is facing many challenges such as the aspects of banking capital and ownership. In terms of the banking capital, it can not compete with the banks from Singapore or Malaysia. In context of the ownership otherwise, the banks from the two neighboring countries have put their nails into the Indonesian banking sector. It can be said also that the era of the single market is a new era of liberalisme where there is no boundaries anymore amongst states. It means that banking competition amongst states will enter a new phase