TEMPO.CO, Jakarta-The Investment Coordinating Board (BKPM) and the Financial Services Authority (OJK) on Wednesday, June 22, 2016 signed a memorandum of understanding on the coordination of prevention and handling of acts against the law in the public fund and investment management sector.
BKPM head Franky Sibarani said that the cooperation agreement signing was an important step in a bid to prevent illegal investment practices or scams, such as that of gold investment scams two years ago that turned out to be illegal and caused losses for investors.
“We learned a lesson from the case. Such practices should be prevented and handled immediately,” Franky said in a press release received by Tempo on Wednesday, June 22, 2016.
To prevent the crime from recurring, the BKPM, along with the OJK, the Prosecutor’s Office, Police, Trade Ministry, the Communications and Information Ministry, and the Cooperative, Small and Medium Enterprises Ministry, formed a task force to watch investment activities.
“The task force can coordinate to handle investment scam cases,” Franky added.
According to Franky, the cooperation agreement is important to improve commitment of and coordination between related ministries and institutions. Franky added that the agreement will also provide public with a guarantee to conduct investments.
He explained that the BKPM has initiated a number of steps in connection with supervision efforts. For instance, the BKPM in 2015 revoked 12,892 principal permits of foreign and domestic investments for several reasons.
“One of the reasons is permit violation,” Franky added.
Franky hopes that the coordination and cooperation between the ministries and institutions will have positive impacts on the investment climate in Indonesia.
BAGUS PRASETIYO
