The ratification of the Draft Law on the Development and Strengthening of the Financial Sector (RUU P2SK) into a law that the DPR conducted today in a plenary session is a major step in reforming the financial system in Indonesia.
Later, the latest regulation will regulate a large number of national financial segments that continue to develop in line with the development of the times and technology.
Minister of Finance (Menkeu) Sri Mulyani said that the P2SK Law is strategic because it is an update to a number of provisions that are considered less relevant to the current conditions.
"The Financial Sector Development and Strengthening Law contains reforms of 17 laws, some even over the age of 30 years. Meanwhile, developments in the financial sector are very fast," he said at the Senayan Parliament Complex, Jakarta on Thursday, December 15.
According to the Minister of Finance, Indonesia's financial industry continues to grow, both in terms of instruments offered and preferences that arise from the community itself.
"Therefore, we are trying to balance regulations and policies to maintain a balance between investor security and develop the national financial industry," he said.
For information, the Financial Sector Development and Strengthening Law contains a number of provisions, ranging from the shift in cooperative supervision to OJK, supervision of financial sector conglomerates, online loans (pinjol), crypto governance, to plans for issuing digital rupiah.
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