New Management, OJK Continues Commitment To Consumer Protection In The Financial Services Sector

OJK Board of Commissioners for 2022-2027 Period (Photo: OJK Doc.)

JAKARTA - The Financial Services Authority (OJK) is known to continue to strengthen the commitment to protect the financial industry sector in Indonesia through a number of strategic steps.

Member of the OJK Board of Commissioners for Consumer Education and Protection Friderica Widyasari Dewi said that currently the gap between literacy and financial inclusion is still very large.

"This explains why many cases occur in the community because the level of inclusion is already high but it turns out that they do not understand correctly what financial products and services they buy or use," he said in a press statement on Wednesday, August 3.

According to Friderica, his party is currently implementing three strategies to improve education and consumer protection.

First, massive public education programs through national campaigns and in collaboration with schools. Then, include a curriculum of lessons on financial education at both the elementary and university levels.

Second, optimizing market conduct supervision through POJK No. 6/2022 concerning Consumer Protection in the Financial Services Sector is an important basis for conducting tighter and optimal market supervision of financial services business actors (PUJK).

And the third is increasing consumer protection through the provision of an simplified customer complaint mechanism and the provision of facilities related to issues in the financial services sector.

"In the future, OJK will strengthen coordination between the fields of education and consumer protection to be closer together with banking supervision, capital markets, and the non-bank financial industry to create integrated consumer protection," he said.

For information, Friderica is part of the new management of the OJK for the 2022-2027 period which was inaugurated by the Supreme Court (MA) on 20 July.

Meanwhile, the leadership structure of the authority this time is held by Mahendra Siregar as Chairman of the Board of Commissioners and Mirza Adityaswara as Deputy Chairman concurrently Chair of the Ethics Committee and members.