Non-Bank Financial Industry to Grow 15% in 2015: OJK

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  • TEMPO.CO, Jakarta – The Financial Services Authority projected Indonesia's non-bank financial services industries will maintain a growth of more than 15 percent next year. Freddy Dumoly Pardede, OJK's deputy commissioner for financial industries, said the industry's outlook for 2015 is bright; supported by the growth in the insurance and finance sectors.

    For the insurance sector, Dumoly estimates a 20-percent growth. The pension fund industry is expected to post a 15-percent growth, while the finance industry is projected to grow by 17 percent.

    The OJK, he said, will continue to improve regulations in non-bank financial sector with the goal to benefit the people and facilitate entrepreneurs in the field.

    OJK board of commissioners chairman Muliaman D. Hadad said that, to support the growth of non-bank financial industries, the Authority will provide flexibility for insurers and financing companies, so that they can play an active role in the government's people-oriented programs.