OJK, JFSA to Supervise Japanese Financial Institutions
25 January 2015 16:56 WIB
TEMPO.CO, Jakarta - The Financial Service Authority (OJK) signed an agreement with the Financial Services Agency of Japan (JFSA) to lift roadblocks for the OJK when supervising Japanese financial institutions in Indonesia.
“The agreement was signed in Tokyo on January 23, 2015,” OJK board of commissioners chairman Muliaman Hadad said on Saturday, January 24, 2015.
Muliaman explained that in supervising a foreign financial institution, the OJK frequently needs information from the head office or the holding company of the institution. Such information can only be acquired from home supervisors.
The JFSA as a home supervisor for Japanese financial institutions would help to coordinate information from the local institutions to the OJK. In return, the OJK is required to help JFSA when serving its function in Indonesia.
The agreement was signed by Muliaman and JFSA commissioner Kiyoshi Hosomizo. The agreement was the third stage after operational agreement signings on October 30, 2013 and on June 13, 2014. The operational agreements covered supervisions in non-bank and capital market industries, as well as cooperation in banking.
ROBBY IRFANY
