Jokowi Will Return Bank Supervision To BI, OJK: You Cannot Pretend

JAKARTA - The credibility and performance of banking supervision by the Financial Services Authority (OJK) is currently under the spotlight of many parties. Without exception, reportedly, President Joko Widodo (Jokowi) also monitored the performance of the OJK, especially regarding planting during the COVID-19 pandemic.

Based on information quoted from Reuters, President Jokowi is considering issuing an emergency decree to return banking regulations from the OJK back to Bank Indonesia (BI).

BI has been a regulator and supervisor of banks in Indonesia. However, at the end of 2013 this authority was transferred to the OJK, which was then being born.

Deputy Commissioner for Public Relations and Logistics Anto Prabowo admitted that he did not know the rumors. Anto was also reluctant to comment more because there was no clear source of the news.

"I don't know where the source comes from. I can't just think about it. I asked the source, I read everything, no one said a clear source," he said, when met at the OJK Office, Jakarta, Thursday, July 2.

Anto explained that all institutions work based on the law, including OJK. This is what the OJK does consistently, so that what is meant by law is achieved.

At present, said Anto, OJK remains focused on its main duties and functions in the midst of the corona virus pandemic or COVID-19. According to him, his party also continues to coordinate with related parties regarding the handling of this virus.

"That is more important than many things, because this country is in need of efforts to deal with COVID-19. OJK is just focused," he said.

The House of Representatives (DPR) again voiced a proposal to return the work functions of the Financial Services Authority (OJK) to Bank Indonesia (BI). The discourse came from a member of Commission XI DPR RI from the PKS Hidayatullah faction.

"We can check the performance of their supervision (OJK), and it turns out that if it is not appropriate, there is a risk that the commissioners will have to resign, or be recombined with BI. So this is not a simple problem," Hidayatullah said, as quoted from detik.com.

The proposal put forward by Hidayatullah departs from the negligence made by the OJK in supervising the financial problems experienced by PT Asuransi Jiwasraya (Persero). He considered, this negligence had a very big impact.

"We are in Commission XI watching big figures. So it seems as if these tens of trillions are small. This negligence will have a big impact. Tens of trillions seem like nothing. Bapak is still hiding it while the public knows. So there is no secret," he said.