Inaugurating Maluku Representative Office, OJK Strengthens Supervision Commitment In Eastern Indonesia

Illustration (Photo: Doc. Antara)

JAKARTA - The Financial Services Authority (OJK) is said to have just inaugurated a representative office in Maluku as a form of strengthening the work of financial industry supervision and consumer protection.

Chairman of the OJK Board of Commissioners, Wimboh Santoso, said that this office is a symbol of independence in strengthening the implementation of the duties and functions of regional authorities and supporting economic growth in the Eastern Indonesia region.

"The regional OJK offices are very strategic in supporting three priority issues, namely increasing economic growth, increasing intermediation of financial institutions, and providing protection for consumers in the financial services sector," he said in a written statement on Friday, May 13.

According to Wimboh, this facility can strengthen the MSME sector which is the mainstay of the Maluku region, in the plantation, tourism and fisheries sectors.

"The Maluku OJK Office must encourage the financial services industry to increase the amount of financing with an easy, fast, and affordable process for MSME players and sectors that still have the potential to grow," he said.

On the same occasion, Deputy Governor of Maluku Barnabas Orno expressed his appreciation for the cooperation and support from the OJK to the Provincial Government that has been established so far in supporting the community's economy.

"Hopefully the good relationship that has been established between the Provincial Government and the OJK can continue to be improved to encourage economic growth in Maluku," he said.

For information, in the working area of the Maluku OJK Office, there are 19 commercial banks with 149 office networks, two sharia commercial banks with four office networks, and one rural bank with 18 office networks.

In addition, there are 23 insurance companies, 14 financial institutions, one pension fund, one MFI and three specialized financial services institutions. In the capital market industry there is also an Indonesia Stock Exchange office, an investment manager and a securities company.

Meanwhile, banking performance in Maluku continues to grow. Business volume in the first quarter of 2022 increased by 9.51 percent (yoy) driven by growth in deposits of 14.60 percent (yoy). Credit distribution grew by 13.96 percent with a maintained NPL ratio of 1.16 percent.