Fathan Qorib, Mahinda Arkyasa
In an effort to maintain independence of the Financial Services Authority (OJK), Yunus Husein, former Chairman of the Indonesian Financial Transaction Reports and Analysis Center (PPATK), urged OJK to establish an internal regulation mechanism to prevent any intervention from other parties.
Yunus insisted that internal regulation is important because OJK is responsible for the supervision of financial institutions in Indonesia, including banks and the capital market.
“There should be an internal regulation mechanism established that prohibits intervention [from other parties],” he stated in a seminar at Universitas Indonesia, Monday (11/3).
Yunus explained that outside interference with OJK’s duties and obligations may come from high-ranking politicians that own shares in a bank or other financial institutions.
Sri Rahayu Widodo, Deputy Commissioner of Education and Consumer Protection Division at OJK, stated that OJK will evaluate Yunus’ input. She also confirmed that OJK will always act in a professional and independent manner.
Sri informed that OJK has established an ethics committee that will enforce OJK’s code of ethics, as well as apply good governance principles in order to maintain OJK’s independence.
In addition, OJK also has a Deputy of Internal Audit and Risk Management that will analyze and provide suggestions or critique regarding a policy before it is issued.
Meanwhile, in order to promote OJK’s transparency and accountability, she stated that OJK will cooperate with the Audit Board of the Republic of Indonesia to audit OJK’s performance and financial statements.
(jt)
Fathan Qorib, Mahinda Arkyasa
In an effort to maintain independence of the Financial Services Authority (OJK), Yunus Husein, former Chairman of the Indonesian Financial Transaction Reports and Analysis Center (PPATK), urged OJK to establish an internal regulation mechanism to prevent any intervention from other parties.
Yunus insisted that internal regulation is important because OJK is responsible for the supervision of financial institutions in Indonesia, including banks and the capital market.
“There should be an internal regulation mechanism established that prohibits intervention [from other parties],” he stated in a seminar at Universitas Indonesia, Monday (11/3).
Yunus explained that outside interference with OJK’s duties and obligations may come from high-ranking politicians that own shares in a bank or other financial institutions.
Sri Rahayu Widodo, Deputy Commissioner of Education and Consumer Protection Division at OJK, stated that OJK will evaluate Yunus’ input. She also confirmed that OJK will always act in a professional and independent manner.
Sri informed that OJK has established an ethics committee that will enforce OJK’s code of ethics, as well as apply good governance principles in order to maintain OJK’s independence.
In addition, OJK also has a Deputy of Internal Audit and Risk Management that will analyze and provide suggestions or critique regarding a policy before it is issued.
Meanwhile, in order to promote OJK’s transparency and accountability, she stated that OJK will cooperate with the Audit Board of the Republic of Indonesia to audit OJK’s performance and financial statements.
(jt)