TEMPO.CO, Jakarta - The Financial Service Authority (OJK) has established cooperation with Kazakhstan’s Astana International Financial Center (AIFC).
OJK’s Deputy Commissioner for First Banking Monitoring Mulya E. Siregar said the cooperation is aimed at supporting the development of domestic financial service industry.
According to Mulya, the cooperation include development of appropriate financial monitoring mechanism both for conventional and shariah financial markets. “Cooperation will be made by exchanging knowledge and expertise or capacity building programs,” he said Thursday in Jakarta.
Monitoring will be made in prudential standards and market conduct of financial institution monitoring, financial product and market development, crisis management and financial institution resolution, global monitoring reform and agreements in international forum, etc.
Aside from signing the agreement, OJK and AIFC have held talks about shariah finance, financial technology (fintech), financial inclusion, capacity building as well as training and prudential standards.
AIFC was established in 2015 a the initiative of Kazakh President Nursultan Nazarbayev in a bid to turn the country into a leading financial hub for Central Asia, the Caucasus region, the Eurasian Economic Union (EAEU), the Middle East, Western China, Mongolia and Europe.
AIFC is designed to attract foreign investment, develop banking sector, facilitate insurance businesses and shariah financial institutions. Also to draw world leaders in financial service sector to support Kazakhstan in developing best practices, creating stability and boosting Kazakh economic growth.
GHOIDA RAHMAH
