The Ministry Of Finance Socializes The P2SK Law To Banking Business Actors

Illustration (Photo: Doc. Ministry of Finance)

JAKARTA - The Ministry of Finance (Kemenkeu) together with Bank Indonesia (BI), the Financial Services Authority (OJK), and the Deposit Insurance Corporation (LPS) held a Public Consultation on the Financial Sector Development and Strengthening Act (UU P2SK).

It was stated that the topic of discussion regarding the Draft Government Regulation (RPP) on the Placement of Funds at Banks and the Implementation of Authority in the Implementation of the Banking Restructuring Program by LPS.

Head of the Financial Sector Policy Center of the Ministry of Finance Adi Budiarso said this activity was aimed at obtaining relevant responses, inputs, and proposals from the banking industry in Indonesia.

Adi said a number of associations were present from the Association of Indonesian National Banks (Perbanas), Association of Regional Development Banks (Asbanda), Association of State-Owned Banks (Himbara), Association of Indonesian People's Credit Banks (Perbarindo).

Then, the Association of Indonesian Sharia Banks (Asbisindo), the Association of Bank-Bank International Indonesia (Perbina), and the Association of People's Credit Banks Owned by Regional Governments throughout Indonesia (Perbamida).

"The P2SK law that we have succeeded in both being born shows that Indonesia has a legal umbrella that is end to end and complete to strengthen the safety net of our financial system stability system," he said in a press release Friday, June 21.

Adi explained that the P2SK Law had been promulgated into Law Number 4 of 2023 on January 12, 2023.

"We need the role and active participation of all of us to continue to ensure that this legal umbrella is indeed in accordance with our needs and can also be carried out properly in due course, especially when we have to face the potential threat of crisis or even crisis. We are ready to listen so that later we can continue to guard the birth of this RPP in the near future," he explained.

For information, the P2SK Law is still in the form of a big legal umbrella and has not been revealed in the implementing technical regulations. Meanwhile, the stage currently being discussed is Government Regulation. Then, it was prepared in more detail through Presidential Regulations, Presidential Decrees, Regulations of the Minister of Finance, BI Regulations, OJK Regulations, and LPS Regulations.