New Management, OJK Promises Fast One-Stop Service With Prudential Principles

OJK's first press conference for the 2022-2027 period (Photo: screenshot of OJK Youtube)

JAKARTA - The Financial Services Authority (OJK) has stated that it will emphasize the importance of strengthening the integrated regulation and supervision of the financial services sector.

Chairman of the OJK Board of Commissioners Mahendra Siregar said this step includes regulation and supervision in the banking sector, capital market and non-bank financial industry (IKNB) as well as compliance.

"As a first step, OJK will further encourage a one-stop-shop system for licensing, ratification, and approval with faster services while still carrying out the principle of prudence," he said at the first press conference of the OJK Board of Commissioners for the 2022-2027 period on Wednesday. , July 20.

According to Mahendra, his party will continue to encourage the strengthening of corporate governance principles for all financial services business actors to accelerate economic recovery, strengthen the digital economy and sustainable finance.

"In addition, to mitigate the risk of the impact of high inflation and global recession (stagflation) on the financial services sector and the Indonesian economy, OJK will increase supervision of the condition of each financial services industry as well as in an integrated manner, as well as coordinate closely with the Ministry of Finance, Bank Indonesia and other financial institutions. Deposit Insurance Corporation (LPS) in the Financial System Stability Committee (KSSK) forum," he explained.

Mahendra said that the health and good performance of the financial services industry will greatly determine the sustainability of real sector growth, including MSMEs in the midst of challenging world economic conditions.

"OJK is committed to being more proactive and collaborative in efforts to create stability, growth and strengthening the financial services industry that provides benefits to the national economy and society," said Mahendra.