TEMPO.CO, Jakarta - The Financial Services Authority (OJK) and Bank Indonesia (BI) are preparing a regulation to provide incentives for creative industries and information technology-based financial services (fintech).
OJK deputy commissioner for non-banking supervision Dumoly Pardede said that incentives for fintech are not only in the form of capital injections. Dumoly added that ease of operation is also an incentive form.
"Incentives can be in the forms of free work environment and flexible regulations. So, it's like a regulatory incentive," Dumoly said during a press conference of the launch of BI Fintech Office in Jakarta on Monday, November 14, 2016.
Dumoly added that the minimum capital for fintech would be adjusted with the working area.
"So, it won't be generalized," Dumoly explained.
Bank Indonesia deputy governor Ronald Waas said that the government has provided incentives for fintech.
"When they are allowed to operate, it's already an incentive," Ronald said.
Ronald added that BI has issued Bank Indonesia’s Regulation No. 18/40/PBI/2016 on the implementation of payment transaction processing. The regulation is aimed at supporting fintech and e-commerce operations, which is in line with the recently-issued 14th Economic Policy Package on e-commerce.
Ronald revealed that the new bill will ensure accommodations of fintech and e-commerce innovations, improve consumer protection and security, and maintain the level of playing field of industry players.
"All efforts are made to provide supports for fintech, since fintech players are willing to be regulated," Ronald added.
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