Ada Pertanyaan? Hubungi Kami 
Ada Pertanyaan? Hubungi Kami Fitri Novia Heriani, Mahinda Arkyasa
The Indonesian Banking Association, locally known as “Perbanas,” has publicly questioned the transparency of how the Financial Services Authority (OJK) gathers its funds.
With the OJK set upon funding itself from service fees collected from the banking and finance sectors, Perbanas Chairman Sigit Pramono said that transparency was essential, and questioned why the agency never publicizes information about their operational funding.
Information on OJK operational funds is essential, he explained to Hukumonline (10/1), “to determine whether the amount of fees collected exceeds the OJK’s annual operational funds.”
He also echoed other banking and financial groups by urging the state to ultimately be responsible for the agency’s funding, arguing that really, the government should allocate OJK operational funds from the State Budget.
The Chairman suggested that Bank Indonesia and the Indonesia Deposit Insurance Corporation, two other state agencies, could also partially fund the OJK.
Cornelius Simanjuntak, the Chairman of the General Insurance Association of Indonesia, shared the same view with Hukumonline when interviewed on Friday (11/1). He said that the state should pay for the OJK’s operational budget.
However, if OJK insist on operating from service fees, then they should “put on a display of good performance before collecting fees.”
The insurance-industry leader said that he was certain financial businesses would not have a second thought about paying the service fees if only the OJK would be more transparent than it is currently, and more transparent than its famously-secretive regulatory predecessors.
Authorities from other regulatory agencies are currently being transferred to the OJK as Indonesia seeks to centralize day-to-day supervision over the activities of banking and financial sectors within a single institution, following the model of other prominent G20 economies. The transfer of authorities will be complete in 2014.
(eli)
Fitri Novia Heriani, Mahinda Arkyasa
The Indonesian Banking Association, locally known as “Perbanas,” has publicly questioned the transparency of how the Financial Services Authority (OJK) gathers its funds.
With the OJK set upon funding itself from service fees collected from the banking and finance sectors, Perbanas Chairman Sigit Pramono said that transparency was essential, and questioned why the agency never publicizes information about their operational funding.
Information on OJK operational funds is essential, he explained to Hukumonline (10/1), “to determine whether the amount of fees collected exceeds the OJK’s annual operational funds.”
He also echoed other banking and financial groups by urging the state to ultimately be responsible for the agency’s funding, arguing that really, the government should allocate OJK operational funds from the State Budget.
The Chairman suggested that Bank Indonesia and the Indonesia Deposit Insurance Corporation, two other state agencies, could also partially fund the OJK.
Cornelius Simanjuntak, the Chairman of the General Insurance Association of Indonesia, shared the same view with Hukumonline when interviewed on Friday (11/1). He said that the state should pay for the OJK’s operational budget.
However, if OJK insist on operating from service fees, then they should “put on a display of good performance before collecting fees.”
The insurance-industry leader said that he was certain financial businesses would not have a second thought about paying the service fees if only the OJK would be more transparent than it is currently, and more transparent than its famously-secretive regulatory predecessors.
Authorities from other regulatory agencies are currently being transferred to the OJK as Indonesia seeks to centralize day-to-day supervision over the activities of banking and financial sectors within a single institution, following the model of other prominent G20 economies. The transfer of authorities will be complete in 2014.
(eli)