Ada Pertanyaan? Hubungi Kami 
Ada Pertanyaan? Hubungi Kami Fathan Qorib, Robert Sidauruk
Problems surrounding the Financial Services Authority (OJK) continue to concern experts. In addition to the unresolved issue of the internal investigator hiring process, OJK is now being questioned in regards to their funding sources.
“These sources create uncertainty over the legal status of OJK’s funds,” said Arifin P. Soeria Atmadja, public finance law professor at Universitas Indonesia, during a seminar in Jakarta, Tuesday (23/4).
Arifin referred to Article 32 (2) of Law No. 21 of 2011, which stipulates that OJK will be funded by two sources. The first source is the contribution from financial services institutions.
The second source is the State Budget, provided that the first contribution does not meet OJK’s operational costs.
Concerning the second source, Arifin argued that OJK is an independent institution and must not use the State Budget for funding.
“As an independent institution, OJK must be formed as a juristic person (badan hukum), so that its funds are separate from the State Budget,” Arifin added.
To address this issue, Arifin suggested that OJK Law must be revised and include a provision stating that OJK is public legal entity (badan hukum publik), like Bank Indonesia.
Further, Arifin added that the funds from the State Budget must be categorized as a loan. That is, OJK must return the funds after obtaining sufficient contribution from financial institutions.
Harry Azhar Azis, Deputy Chairman of Commission XI at the House of Representatives, explained that OJK’s two sources of funds demonstrate OJK’s independence.
“It is independent, but not as much as Bank Indonesia,” Harry said.
Harry concluded that funding from the State Budget needs further discussion on whether it will be based on a permanent or a temporary basis.
(hot/jt)
Fathan Qorib, Robert Sidauruk
Problems surrounding the Financial Services Authority (OJK) continue to concern experts. In addition to the unresolved issue of the internal investigator hiring process, OJK is now being questioned in regards to their funding sources.
“These sources create uncertainty over the legal status of OJK’s funds,” said Arifin P. Soeria Atmadja, public finance law professor at Universitas Indonesia, during a seminar in Jakarta, Tuesday (23/4).
Arifin referred to Article 32 (2) of Law No. 21 of 2011, which stipulates that OJK will be funded by two sources. The first source is the contribution from financial services institutions.
The second source is the State Budget, provided that the first contribution does not meet OJK’s operational costs.
Concerning the second source, Arifin argued that OJK is an independent institution and must not use the State Budget for funding.
“As an independent institution, OJK must be formed as a juristic person (badan hukum), so that its funds are separate from the State Budget,” Arifin added.
To address this issue, Arifin suggested that OJK Law must be revised and include a provision stating that OJK is public legal entity (badan hukum publik), like Bank Indonesia.
Further, Arifin added that the funds from the State Budget must be categorized as a loan. That is, OJK must return the funds after obtaining sufficient contribution from financial institutions.
Harry Azhar Azis, Deputy Chairman of Commission XI at the House of Representatives, explained that OJK’s two sources of funds demonstrate OJK’s independence.
“It is independent, but not as much as Bank Indonesia,” Harry said.
Harry concluded that funding from the State Budget needs further discussion on whether it will be based on a permanent or a temporary basis.
(hot/jt)