OJK Holds Seminar Themed Consumer Empowerment and Improving Capacity of Financial Services Institutions in Consumer Protection in Financial Services Sector
Mar 10 2015
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Financial Services Authority, Jakarta, March 10, 2015: Financial Services Authority (OJK) held a
national seminar themed Consumer Empowerment and Improving Capacity of Financial
Services Institutions in Consumer Protection in Financial Services Sector in
Jakarta on Tuesday (March 10, 2015). Member of OJK Board of Commissioner for
Education and Consumer Protection Kusumaningtuti S. Soetiono explained at the
event the significance of consumer protection as mandated to OJK by law.
According to her,
the function of consumer protection originated from a condition where
protection for consumers in financial services sector was not optimal amidst
globalization of financial system and rapid growth in information technology
and financial innovations, resulting financial system that is complex, dynamic
and interconnected both in terms of products and institutions.
Considering that
condition, OJK in implementing its consumer protection function is not only
focusing on protection and consumer empowerment aspects. It is also important
to improve capacity of professionals in financial services in the subject of
consumer protection. Consumer protection in financial services sector aims at
creating reliable consumer protection system, increasing consumer empowerment,
and developing awareness about financial services institutions. Thereby,
society`s trust in financial services sector can be increased, she said.
Consumer protection
is a system or a series of policies and programs comprising education, service
for information and reports, facilitation for dispute resolution for consumers
in financial services sector and members of society who use financial services.
With a good implementation of consumer protection system, all possible problems
can be handled well.
Therefore, in order
to synchronize level playing field of consumer protection in financial services
sector, the first measure taken by OJK was preparing consumer protection
framework. The framework is now
acknowledged as OJK Regulation No. 1/POJK/2013 on consumer protection in
financial services sector. This regulation is highly important that it became
the first OJK Regulation to be issued since OJK started its operation.
Apart from providing
consumer protection framework in financial services sector through OJK
Regulation No. 1/2013, OJK also puts efforts into providing facilities and
supporting infrastructure so that the effort to improve consumer protection can
be carried out well. This is a part of OJK`s commitments in supporting
financial services sector growth.
In term of service
for consumers, OJK has a consumer service division that is easily accessible
using phone number 1-500-655. This service is like a quantum leap in financial
services sector in Indonesia.
I hope that the
national seminar we hold today can broaden our horizon about all aspects in
consumer protection, which will be discussed with some resource persons. In
this delightful occasion, I would also express my gratitude for all the attending
resource persons who will share their knowledge and experience associated with
consumer protection in financial services sector, Kusumaningtuti added.
