OJK Regulation Regarding Assessment on Level of Bank Soundness for Sharia Commercial Banks and Sharia Business Units

Jun 25 2014

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OJK Regulation Number 8/POJK.03/2014 regarding assessment on level of bank soundness for Sharia commercial banks and Sharia business units is issued in order to improve the effectiveness of evaluation on level of soundness in banks in order to deal with changes in the complexity of business and risks profile that may come from banks and their subsidiaries, and also with changes in the approach of evaluation on level of soundness that is implemented internationally which can influence current approach of such evaluation.

Therefore, banks are obligated to maintain and improve their level of bank soundness by implementing prudential principles, Sharia principles, and risks management in carrying out their business activities. Additionally, in taking the responsibility to sustain bank business, directors and board of commissioners are responsible to uphold and monitor level of bank soundness as well as to take necessary measures to sustain and improve the level of bank soundness.

Sharia commercial banks are obligated to conduct assessment on level of bank soundness, both individually and by consolidation. As for Sharia business units, they are obligated to conduct assessment on level of bank soundness individually.  
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