SCOPE OF WORK
Indonesia Financial Services Authority (OJK) has the following scope of work to:
1. Regulate;
2. Supervise; and
3. Protect.for a healthy Financial Industry
OBJECTIVES
The Financial Services Authority (OJK) is established in a bid to ensure that the overall activities within the financial services sector are:
1. Implemented in an organized, fair, transparent and accountable manner;
2. Able to realize the financial system that grows in a sustainable and stable manner; and
3. Capable of protecting the interests of consumers and the society.
FUNCTION
The functions of Indonesia Financial Services Authority include:
1. organize the regulatory and supervisory system that is integrated to all activities within the financial services sector;
2. actively maintain the Financial System Stability in accordance with its authority; and
3. provide protection to Consumers and the public.
DUTIES
1. The Financial Services Authority shall implement implement the regulatory and supervisory duty against:
- financial service activities within the Banking sector;
- financial services activities within the Capital Market, Derivative finance and carbon exchange sectors;
- financial service activities within the Insurance, Guarantee and Pension Fund sectors;f
inancial service activities within the Financing Institutions, venture capital companies, microfinance institutions, and Other LJK sectors;
- inancial service activities within the Financing Institutions, venture capital companies, microfinance institutions, and Other LJK sectors;
- activities within the ITSK sector as well as digital financial assets and crypto assets;
- behavior of financial services business actors as well as the implementation of education and Consumer Protection; and
- the financial sector in an integrated manner as well as assessing the systemic impact of Financial Conglomerates.
2. In addition to the duties as referred to in paragraph (1),
the Financial Services Authority shall be in charge of the implementation of development of the financial sector, coordination with related ministries/institutions and authorities.
