IFG Achieves The Inauguration Of KPPU, Commits To Run Business Compliance Programs

Deputy President Director of IFG Haru Koesmahargyo (right) and Deputy for Studies and Advocacy of KPPU Taufik Ariyanto (left). (Photo: Doc. IFG)

JAKARTA - Indonesia Financial Group (IFG) Commitment, BUMN Holding Insurance, Guarantee, and Investment in implementing the Business Competition Compliance program received recognition from the Business Competition Supervisory Commission (KPPU).

This was marked by the receipt of a certificate of Compliance with Business Competition Program from KPPU after IFG as a financial conglomerate filled a series of business Competition Compliance Program processes.

The Certification of the Business Competition Compliance Program was given by the Deputy for Studies and Advocacy of the KPPU, Taufik Ariyanto to the Deputy President Director of IFG, Haru Koesmahargyo accompanied by the Director of Competition Advocacy and KPPU Partnership, M. Zulfirmansyah, and the Head of the IFG Risk Management Division Sariniatun in Jakarta, on Thursday 22 August.

Deputy President Director of IFG, Haru Koesmahargyo, stated that this certification is a manifestation of IFG's real commitment in strengthening the governance of the company's business and operational processes and supporting healthy business competition. This certification is in line with Law no. 5 of 1999 concerning Prohibition of Monopoly Practices and Unhealthy Business Competition.

With this momentum, his party is also committed to preparing a Business Competition Compliance Program in accordance with KPPU Regulation 1/2022 which provides a clear basis for business and operational practices in IFG and Holding Members based on healthy business competition.

"This certificate is a real commitment and IFG's efforts to create healthy business competition and contribute to the restructuring of the business competition climate in Indonesia. During the series of business competition compliance programs, KPPU has also played a large role and provided briefing to IFG personnel regarding Business Competition," Haru said, when receiving the certificate.

Haru added, IFG as a financial conglomerate under the supervision of the OJK is currently conducting periodic and thorough monitoring of business competition practices within IFG. One of the ongoing efforts is to carry out sustainable internal coaching in order to strengthen understanding of Compliance with Business Competition by cooperating with KPPU.

This guidance is carried out in accordance with KPPU Regulation of the Republic of Indonesia Number 1 of 2022 concerning the Compliance Business Competition Program. With this, it is hoped that IFG can improve its good capabilities in implementing business competition compliance in the group IFG environment.

On the same occasion, the Deputy for Studies and Advocacy of the KPPU, Taufik Ariyanto, gave his appreciation to IFG.

KPPU appreciates IFG as a BUMN holding in the fields of insurance, guarantee, and investment that have participated in the Business Competition Compliance Program. This step is expected to strengthen the industry so that it grows healthier, stronger, and more sustainable. KPPU is also open to discussing new regulations related to business competition," he said.