Ada Pertanyaan? Hubungi Kami 
Ada Pertanyaan? Hubungi Kami ANT, Fathan Qorib, Mahinda Arkyasa
In response to the transfer of supervision authorities from Bank Indonesia to the Financial Services Authority (OJK), some parties expressed their concern that the transition will result in jurisdictional overlaps, leading to oversight uncertainty.
“There should be a clear distinction between micro and macro supervision,” said Nelson Tampubolon, OJK’s Chief Executive of Banking Supervision on Monday (8/4).
Nelson explained that, for example, determination of compulsory minimum reserve (Giro Wajib Minimum – GWM) by BI is one of the grey areas. He asserted that in determining GWM related to banking, BI must coordinate with OJK.
He also stated that in an effort to address the uncertainty, BI and OJK will establish a Memorandum of Understanding (MoU) to clarify each institution’s tasks and responsibilities.
Nelson informed that the MoU will include provisions on drafting regulations related to the supervision of overlapping areas.
In addition, Nelson confirmed that BI and OJK have made preparations regarding the transitional period. He stated that both institutions have assembled a team to discuss the transition.
Yunus Husein, an academic, asserted that OJK plays an important role in supervising Indonesian financial services, including supervising and regulating the banking sector.
He added that now would be a good time for OJK to coordinate with other institutions.
However, Yunus reminded that coordinating with other institutions may not be as easy as it seems. He explained that based on research by the Presidential Work Unit for Development Supervision and Control (UKP4), clash of egos between governmental institutions often occurs.
Muliaman Hadad, Chairman of OJK’s Board of Commissioners, assured that OJK will establish a proper work mechanism and an integrated communication network with BI, the Indonesian Chamber of Commerce and Industry, and other financial institutions.
He concluded that OJK will continue to build its capacity in monitoring the financial industry, educating the public along with financial businesses, and improving consumer protection.
(jt)
ANT, Fathan Qorib, Mahinda Arkyasa
In response to the transfer of supervision authorities from Bank Indonesia to the Financial Services Authority (OJK), some parties expressed their concern that the transition will result in jurisdictional overlaps, leading to oversight uncertainty.
“There should be a clear distinction between micro and macro supervision,” said Nelson Tampubolon, OJK’s Chief Executive of Banking Supervision on Monday (8/4).
Nelson explained that, for example, determination of compulsory minimum reserve (Giro Wajib Minimum – GWM) by BI is one of the grey areas. He asserted that in determining GWM related to banking, BI must coordinate with OJK.
He also stated that in an effort to address the uncertainty, BI and OJK will establish a Memorandum of Understanding (MoU) to clarify each institution’s tasks and responsibilities.
Nelson informed that the MoU will include provisions on drafting regulations related to the supervision of overlapping areas.
In addition, Nelson confirmed that BI and OJK have made preparations regarding the transitional period. He stated that both institutions have assembled a team to discuss the transition.
Yunus Husein, an academic, asserted that OJK plays an important role in supervising Indonesian financial services, including supervising and regulating the banking sector.
He added that now would be a good time for OJK to coordinate with other institutions.
However, Yunus reminded that coordinating with other institutions may not be as easy as it seems. He explained that based on research by the Presidential Work Unit for Development Supervision and Control (UKP4), clash of egos between governmental institutions often occurs.
Muliaman Hadad, Chairman of OJK’s Board of Commissioners, assured that OJK will establish a proper work mechanism and an integrated communication network with BI, the Indonesian Chamber of Commerce and Industry, and other financial institutions.
He concluded that OJK will continue to build its capacity in monitoring the financial industry, educating the public along with financial businesses, and improving consumer protection.
(jt)