DPR Forms Panja For Financial Industry For State-Owned Enterprises With Problems

JAKARTA - Responding to various cases of the financial and insurance industry in several State-Owned Enterprises (BUMN), Commission XI of the DPR has officially formed a Working Committee (Panja) to supervise the financial industry. The priority of the Panja discussion will be to oversee the problems of PT Asuransi Jiwasraya (Persero), AJB Bumiputera 1912, PT Asabri (Persero), and PT Taspen (Persero).

"As we all know that lately there are many problems in the financial industry sector. Commission XI DPR RI has conducted a working meeting and RDP regarding Jiwasraya during the first session we have done," said Commission XI Chairman Dito Ganindito at DPR Building, Parliament Complex, Senayan, Central Jakarta, Tuesday, January 21.

Dito explained that these various problems were related to financial conditions or liquidity faced by several financial service companies which resulted in defaults on their customers.

The main cause of problems in several financial service companies is thought to be due to company mismanagement or (mismagement) and improper investment management which results in inefficiency in the company so that it cannot fulfill its obligations.

"We agreed to save the customer's money right according to the promise from the Minister of BUMN," he said.

Meanwhile, regarding the coordination between the working committee, Dito explained, Commission VI is in charge of BUMN, PT Asuransi Jiwasraya is a BUMN. So that commission VI will go a lot towards its corporations. Meanwhile, Commission XI of the financial industry will focus more on the supervision of the financial industry. Meanwhile, Commission III through law enforcement.

"We have coordinated with Commission VI and will continue to coordinate with Commission VI and Commission III as well. So that later what we will do in each commission can be synchronized and we can get the same conclusion, but not overloaded and not overlapping," he explained. .

The Working Committee for the financial industry is chaired by the Deputy Chairperson of Commission VI Arya Bima. He said there were several things that were emphasized in solving this financial problem. One of them, the commission VI partner area is BUMN, which includes the performance of the Jiwasraya corporation.

"Currently, the Panja will be concentrating. First, our wish, the target of the Panja, is that the goal is to return the funds of the policyholder customers as quickly as possible. This is what we want to help through the special committee for Jiwasraya insurance," he said.

Arya said, there are three options that might be taken in an effort to return customer funds. The first is holding. The second is privatization, and the third is the participation of state capital.

"So which option is the most effective, whether holding only, holding with privatization, or privatizing with PMN, but the essence of all that is the need for money to immediately return it with maturity steps," he explained.

Open the Possibilities for Revision of the Law

Meanwhile, Deputy Chairperson of Commission XI Eriko Sotarduga explained that the reason why the panja was formed was so that there was a mutual agreement that the focus was on returning customer money.

"Whatever the story is, wherever the story is taken, politics of everything, customers who feel their suffering. That is the main focus of Commission XI, that this is a guarantee and delivered by the Minister of BUMN that customer funds must be returned," he said.

However, Eriko said, in what way, and for how long, there were rules. According to him, this Panja does not focus on the completion of cases where there is something wrong or not, but the most important thing is the evaluation to make a law.

"We have also had a meeting with Baleg to decide on future bills that will be evaluated, including the BI Law, OJK, etc. This is the material so that this does not happen again. This must be resolved and if the legal problem is let the AGO. , "he explained.

The Jiwasraya case began with reports of complaints from the public and the DKI Jakarta High Court, which caught suspicions of corruption from 2014 to 2018.

Until August 2019, Jiwasraya bears potential state losses of IDR 13.7 trillion. Jiwasraya requires funds of IDR 32.89 trillion in order to achieve a Risk Based Capital (RBC) ratio of at least 120 percent. In general, RBC is a measurement of the level of financial health of an insurance company, provided that the OJK regulates a minimum RBC limit of 120 percent.

Currently, the AGO has named five suspects in the suspected corruption case of PT Jiwasraya. They are former President Director of PT Asuransi Jiwasraya Hendrisman Rahim, former Head of the Investment and Finance Division of PT Jiwasraya Syahmirwan, former Finance Director of PT Asuransi Jiwasraya Hary Prasetyo, President Commissioner of PT Trada Alam Minera Tbk (TRAM) Heru Hidayat, and Commissioner of PT Hanson International Tbk Benny Tjokrosaputro.