Valuable Lessons In The Jiwasraya Case, BUMN To Form A Financial Services Industry Think Tank Of IFG Progress

IFG (Photo: By Courtesy)

JAKARTA - State-owned enterprises (BUMN) now have a think tank that is focused on developing the financial services sector called IFG Progress.

In its establishment, IFG Progress is an initiation of the insurance and guarantee holding that was formed by the government, namely the Indonesia Financial Group (IFG).

President Director of IFG Robertus Billitea said that supporting the financial industry continues to develop into a challenge today. Moreover, his party has other targets to expand financial literacy.

For this reason, the formation of IFG Progress is very relevant in being able to study the current situation and the direction of industrial development so that the formulation of policies that are born can have a positive impact on all parties.

"IFG Progress can be a medium for discussion between industry players and various other stakeholders related to developments in the financial sector," he said at the inauguration of IFG Progress which was broadcast virtually, Wednesday, April 28.

Robertus added, the role of IFG Progress is quite central in supporting the creation of a healthy financial ecosystem. The reason is, this forum can be a bridge for various parties in finding the best solution, starting from customers, practitioners, to the government as the regulator.

"Here we can begin to improve what is lacking as well as look for new ideas to encourage the financial services industry to be even better," he said.

On the same occasion, Chairman of the IFG Progress Advisory Board, Agus Martowardojo, revealed that the formation of a think tank is proof of BUMN to transform more professionally.

"Professionalism is a necessity that must be fulfilled in order to have a strong global competitiveness," he said.

The former Governor of Bank Indonesia (BI) did not deny that the valuable lessons from the Jiwasraya insurance issue are the basis for continuing to make improvements in the financial services industry sector.

"There have been quite a lot of problems lately and this has become a momentum to improve the insurance industry," he said.

For information, the Indonesia Financial Group itself is a state-owned insurance and underwriting holding consisting of PT Jasa Raharja, PT Indonesian Credit Guarantee (Jamkrindo), PT Asuransi Kredit Indonesia (Askrindo), PT Jasa Asuransi Indonesia (Jasindo).

Then, PT Bahana Sekuritas, PT Bahana TCW Investment Management, PT Bahana Artha Ventura, PT Bahana Kapital Investa and PT Graha Niaga Tata Utama.

IFG is a holding that was formed to play a role in national development through the development of a complete and innovative financial industry through investment, insurance and guarantee services.