OJK Receives IDR 6.32 Trillion Budget Approval From DPR For 2022

Chairman of the OJK Board of Commissioners Wimboh Santoso (Photo: Captured Youtube screen of Commission XI DPR RI)

JAKARTA - The Financial Services Authority (OJK) reports that Commission XI of the Indonesian House of Representatives (DPR RI) has approved a plan to use a budget of IDR 6.32 trillion for the whole of 2022.

Chairman of the OJK Board of Commissioners, Wimboh Santoso, said the amount would be used for operational activities, administrative activities, asset procurement activities and other supporting activities.

"The OJK will also strengthen infrastructure and use information technology under supervision so that it can monitor problems in the financial services sector early and take quick steps and policies," he said in a written statement quoted on Tuesday, December 14.

According to Wimboh, his party will strengthen consumer protection, including increasing market conduct supervision to ensure that financial service businesses (PUJK) apply aspects of consumer protection at every stage of the product life cycle of every financial product and service offered to the public.

"In line with the implementation of market conduct supervision, OJK will also improve financial literacy in a structured, systematic and massive manner involving various stakeholders and utilizing information technology to reach a wider community," he said.

Wimboh added that OJK will also optimize its authority in Article 30 of Law Number 21 of 2011 which stipulates that OJK can file a lawsuit to recover the assets of the injured party from the party causing the loss.

"We urge the public not to be tempted and take advantage of products offered by institutions or companies that do not have permission from the OJK and use communication channels to check the legality of products," concluded OJK Chairman Wimboh Santoso.