OJK Issues Six Banking Policies

Nov 21 2014


Financial Services Authority (OJK) has issued six regulations in the field of banking. These issued OJK regulations are a part of a series of policies released by OJK in order to strengthen supervision over financial services sector and in the framework of financial market deepening and expanding financial access for society. All of these aims are expected to be able to drive the realization of financial services sector that is strong, with quality economic growth that is even and sustainable.

Chairman of OJK Board of Commissioners stated that over the last several years, we have witnessed financial sector development that is getting faster. Financial sector is getting more complex and dynamic, with tighter inter-sector linkage, both in the terms of product and institution.

Additionally, we have also witnessed financial conglomeration growth, which has added the complexity of transaction and interaction between financial services institutions in the financial system. Global economic crisis, resulted from aggressive risk taking behavior, has given important lessons for regulators on how to empower regulating guidance.

Empowering regulation is basically intended to improve market structure so that it becomes stronger, efficient and more transparent, and therefore can give benefits to sustainable economy. The regulations are:

  1. OJK Regulation on Implementation of Integrated Governance for Financial Conglomeration
  2. OJK Regulation on Implementation of Integrated Risk Management for Financial Conglomeration
  3. OJK Regulation on Financial Services using Virtual Office in the Framework of Inclusive Finance (Laku Pandai)
  4. OJK Regulation on Rural Banks (BPR)
  5. OJK Regulation on Obligation to Provide Minimum Capital (KPMM) for Sharia Banking
  6. OJK Regulation on Asset Quality of Sharia Commercial Banks and Sharia Business Units

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