Financial Services Authority, January 17th, 2014: The Financial Services Authority (OJK) held Financial Executive Annual Gathering on Friday (17/1). The event, which will be arranged annually in the future, was a medium of communications between OJK Board of Commissioners and national financial industry players. The event was also a right momentum for the financial industry players to express their visions and point out the direction of financial services industry development in Indonesia to OJK Board of Commissioners.

Since early in 2014, the financial services industry in Indonesia has been optimistic to be able to sustain real sector favorably, despite the various many problems that are still occurring in the national economy. Such problems ranging from Indonesia composite index which plunged quite deeply, Indonesias rupiah that depreciated steeply against US dollar, the soaring government bond yields, deficit on balance of payment, to insufficient infrastructures. This nations economic problems have gotten worse as global economy recovered slowly.

Considering the development in national and global economic conditions, OJK utilized this as a momentum to fix and strengthen the structure of national economy, particularly in the financial services industry, thereby creating a grand design for the direction of Indonesias economic growth, which is expected to be harmonious within all sectors.

Its for the reason that OJK in 2014 will continue to strengthen its intermediation function and to maintain the stability of financial services sector towards productive sectors, including those that are export based, in order to be the main generator of national economic growth. OJK will also strengthen appropriation of various alternatives for business funding, especially on the role of capital market and non-bank financial institutions. The fixing and strengthening efforts in three financial services sectors are namely in banking, capital market and non-bank financial industry.