LPS Collaborates With HKHSK To Cooperate To Increase Financial Sector Legal Capacity

Chairman of HKHSK Kukuh Winandoko (left) and Legal Executive Director of LPS Ary Zulfikar at the signing of the Memorandum of Understanding (MoU). (Photo: Doc. LPS)

JAKARTA - The Deposit Insurance Corporation (LPS) and the Financial Sector Legal Consultant Association (HKHSK) signed a Memorandum of Understanding (MoU) represented by LPS Legal Executive Director Ary Zulfikar and HKHSK Chairman Kukuh Commando.

This MoU aims to strengthen strategic cooperation in supporting the implementation of LPS functions, duties, and authorities.

"This cooperation is expected to encourage an increase in legal capacity that supports LPS functions, duties and authorities, including a new mandate given to LPS in Law of the Republic of Indonesia Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector or the P2SK Law, which is to manage the insurance policy guarantee program," said LPS Legal Executive Director Ary Zulfikar, Wednesday, April 23.

He added, with the increasingly complex challenges LPS faces, strategic collaboration with legal professionals such as HKHSK becomes very important, especially with the expertise and experience that HKHSK members are expected to become strategic partners for LPS in carrying out their mandates in a credible, transparent manner and in accordance with applicable legal provisions.

LPS melihat perlu untuk melanjutkan kembali kerja sama yang telah kami mulai sejak 2019 lalu dan telah berjalan dengan baik selama 5 tahun terakhir. Kelanjutan kerja sama ini kami lakukan dengan perluasaan lingkap mengakomodir kebutuhan UU P2SK, tutupnya.

Meanwhile, Chairman of HKHSK Kukuh Winandoko explained about the readiness of HKSHK related to cooperation with LPS, especially related to the promulgation of the P2SK Law in 2023.

"We have transformed from what initially only focused on the capital market, but now we have entered all financial sectors, of course, we have changed professional standards and prepared a new code of ethics, because this already covers the entire financial sector, and of course, in this case, we also need input from LPS to also work together in making stability in the financial sector," he explained.

Later, the cooperation between LPS and HKHSK will cover various aspects, including policy socialization and work programs, assistance in handling and resolving banks and insurance companies, research and study, and development of human resource competencies.

This collaboration also shows the public that legal and financial cooperation is an important element in maintaining the integrity of the national financial services sector.