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OJK Sets-up 10 Main Policies

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Editor

10 October 2017 10:00 WIB

A logo of the Financial Services Authority (OJK). TEMPO/Tony Hartawan

TEMPO.CO, Jakarta - The Financial Services Authority (OJK) has set up 10 key policies for the period of 2017-2022. One of them is to by optimize the use of information technology in overseeing industry players, in a bid to reform the non-bank financial sector and the capital market.

The OJK will strengthen integrated arrangements, licensing and supervision for financial conglomerates, and apply prudential international standards that fits the national interest. The regulator will also reform the non-bank financial industry to be more competitive and help achieve efficiency in the financial services industry.

Moreover, the OJK will revitalize capital markets to support development financing, optimize the role of fintechs with adequate oversight, reduce economic inequality by providing more financial accesses, improve education and consumer protection, and encourage sharia finance to fund development projects.

OJK chief Wimboh Santoso said the purpose of these 10 policies is to make his agency an independent and credible one in overseeing and monitoring the financial services sector.

"And able to protect consumers and achieve prosperity through policies in the financial services sector," he said through a statement on his website on Monday, October 9.

FERY F.




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