Minister of Cooperatives of the Republic of Indonesia (Menkop) Budi Arie Setiadi handed over a list of cooperatives carrying out activities in the financial services sector to the Financial Services Authority (OJK) as mandated by Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (UU P2SK).
The list of cooperatives was handed over by Budi Arie Setiadi to the Chairman of the OJK Board of Commissioners Mahendra Siregar accompanied by the Chief Executive Supervisory of Financing Institutions, Ventura Capital Companies, Micro Financial Institutions, and Other Financial Services Institutions OJK Agusman and the Chief Executive of the Behavior Supervisory of Financial Services Business Actors, Education, and Protection of OJK Consumers Friderica Widyasari Dewi at the Ministry of Cooperatives Office on Monday, January 13.
"We at the Ministry of Cooperatives have taken steps, including the implementation of the socialization of the P2SK Law to the cooperative movement and the Cooperatives Service throughout Indonesia," said Budi, Tuesday, January 14.
With the submission of the open loop cooperative list in the financial services sector to the OJK, Budi Arie appealed to cooperatives carrying out savings and loan business activities to immediately improve cooperative business governance because business supervision will be more intensive and in-depth by involving OJK.
"To implement the P2SK Law further, we at the Kemenkop are actively coordinating with the OJK to form a joint team," he explained.
Meanwhile, Mahendra Siregar on the occasion said that he would immediately process a list of open loop cooperatives that had been submitted by the Ministry of Cooperatives to be followed up in accordance with the provisions.
"Of course we are in accordance with the OJK regulations that have been issued regarding it, we will process it further starting from licensing and of course in turn the arrangements and supervision and efforts for its development of course. Because the essence of the P2SK Law is the development and strengthening of the financial services sector," said Mahendra.
On that occasion, Mahendra also offered cooperation in assisting and fostering cooperatives in Indonesia, including in the field of supervision and strengthening governance.
"We are open if necessary to conduct training or workshops, as well as other forms that are improvements to the current cooperation between the OJK and the Kemenkop," said Mahendra.
SEE ALSO:
In a letter from the Minister of Cooperatives of the Republic of Indonesia Number B-3/M.KOP/PK.02.00/2025 dated January 10, 2025, a list of open loop cooperatives submitted which is the result of the assessment of the Ministry of Cooperatives according to the criteria as referred to in Article 44B paragraph (2) in Article 202 of the P2SK Law.
Furthermore, the cooperative listed on the list will be followed up by the OJK in accordance with applicable laws and regulations.
OJK will conduct public socialization and communication related to the follow-up process of open loop cooperatives in the context of development and strengthening in accordance with the P2SK Law.
In addition, the OJK will continue to coordinate with the Kemenkop and the Cooperative Service in the regions to ensure that the entire follow-up process, including licensing for the OJK, can take place properly.
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