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OJK Strengthens Cooperation with IDB

16 April 2014 15:10 WIB

TEMPO.CO, Jakarta - The Financial Services Authority (OJK) is strengthening its partnership with the international Islamic Development Bank (IDB Group) to better develop the sharia financial sector. The IDB will advise the government on to regulate sharia banking properly as part of the 2011-2014 Member Country Partnership Strategy (MCPS) on Islamic finance.

"Sharia financial services will become one of OJK's priorities in the future," OJK Chairman Muliaman D. Hadad said in a press release on Tuesday, April 15, 2014.

Muliaman met with IDB Group President Dr. Ahmad Mohamed Ali in Jeddah, Saudi Arabia, over the weekend to work out terms of the consultation.

Muliaman explained that Indonesia’s sharia finance would be improved by integrating oversight on banking, capital market and non-banking sectors.

The two challenges discussed in the meeting were increasing access to sharia banking and ensuring sharia banking contribution to the country’s economy.

TRI ARTINING PUTRI

Banking and Finance


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