Welcome To The Jungle! The New OJK DK Has Been Alerted To The Threat Of Russo-Ukrainian War

Member of the Board of Commissioners of the Financial Services Authority (OJK) for the term of 2022-2027 (Photo: Doc. OJK)

JAKARTA - The Ministry of Finance (Kemenkeu) issued an official release related to the inauguration of the Board of Commissioners of the Financial Services Authority (OJK) for the term of 2022-2027.

The institution led by Sri Mulyani stated that the transformation process must be carried out by OJK so that it can run in a balanced and sustainable manner in order to encourage changes towards new things that are more adaptive in anticipating future conditions.

"Currently, global conditions are facing financial market volatility due to the continuation of the Russia-Ukraine war, supply chain disruptions, and rising energy and food commodity prices that have driven global inflation, as well as changes in the direction of monetary policy in developed countries," the Ministry of Finance said in a statement on Wednesday. July 20.

It is stated that OJK together with KSSK institutions (Ministry of Finance, Bank Indonesia, Deposit Insurance Corporation) must continue to improve coordination and synergy in maintaining financial system stability.

"Coordination of fiscal and monetary policies supported by effective regulation and supervision of the financial sector will be the key in facing the challenges of global dynamics," said the Ministry of Finance.

Furthermore, a well-functioning financial sector will facilitate real sector activities through the provision and allocation of resources to productive sectors. An efficient and healthy financial sector is claimed to be able to boost productivity and economic growth.

Meanwhile, Minister of Finance Sri Mulyani said that OJK as the regulatory authority and supervisor of the financial sector must be able to improve literacy and consumer protection, synergize with all stakeholders, and create a deep, efficient, active and liquid financial market.

"Congratulations to the elected OJK Board of Commissioners members and thank you to the 2017-2022 members of the Board of Commissioners," said Minister of Finance Sri Mulyani.