Ada Pertanyaan? Hubungi Kami 
Ada Pertanyaan? Hubungi Kami Fathan Qorib, Robert Sidauruk
The Financial Service Authority (OJK) has recently entered into cooperation with the International Financial Corporation (IFC), a subsidiary of World Bank Group to improve corporate governance in Indonesia.
The cooperation specifically aims to improve the implementation of good corporate governance (GCG) in the financial services sector in Indonesia. The IFC is considered the most respected institution for GCG regulation based on its record of contributing to the development of 48 GCG regulations in 32 countries.
Muliaman Hadad, Chairman of the OJK, revealed one aspect of the cooperation is to develop a corporate governance road map, which will identify issues and challenges in the financial services regulatory framework in Indonesia.
“This will include consideration of, shareholder rights, protection of minority shareholders, corporate board practices as well as disclosure and transparency,” Muliaman explained in Jakarta on Monday.
In addition, the cooperation will include the drafting of an Indonesia specific corporate manual. The manual will cover guidance for best practices in corporate governance and will be targeted at practitioners, company management and policy makers.
Mulaiman further added that the cooperation is also intended to realize a sound and sustainable financial system which will protect consumers and society’s interests.
To achieve this objective, Muliaman said that the OJK has made various efforts to encourage financial services companies toimprove their corporate governance.
“One of these efforts is through the annual report award,” he added.
Another initiative is the formation of a Corporate Governance Task Force (CGTF). This institution will work with the IFC to develop a corporate governance road map.
The task force will be comprised representatives from the OJK, Bank Indonesia (BI), the Ministry of State-Owned Companies, the Directorate General of Tax, the Finance and Development Supervisory Agency (BPKP), the Indonesia Accountant Association (IAI), and the Indonesia Stock Exchange (BEI).
“The CGTF will complete drafting the road map by July 2013. Afterwards, the OJK and the IFC will announce the road map to both the private and public sectors," Mulaiman asserted.
Director of the IFC for East Asia and Pacific Region, Sergio Pimenta, said that the IFC has organized ten seminars consisting of training forums to introduce the GCG program.
“Corporate governance standards and its implementation will improve the competitiveness and sustainability of business and most importantly economic development. Our partnership with the OJK will strengthen Indonesia’s financial system,” he added.
In the East Asia and Pacific Region, the IFC also has produced an annual report scorecard for large companies listed on the Vietnamese stock exchanges.
(hot/kc)
Fathan Qorib, Robert Sidauruk
The Financial Service Authority (OJK) has recently entered into cooperation with the International Financial Corporation (IFC), a subsidiary of World Bank Group to improve corporate governance in Indonesia.
The cooperation specifically aims to improve the implementation of good corporate governance (GCG) in the financial services sector in Indonesia. The IFC is considered the most respected institution for GCG regulation based on its record of contributing to the development of 48 GCG regulations in 32 countries.
Muliaman Hadad, Chairman of the OJK, revealed one aspect of the cooperation is to develop a corporate governance road map, which will identify issues and challenges in the financial services regulatory framework in Indonesia.
“This will include consideration of, shareholder rights, protection of minority shareholders, corporate board practices as well as disclosure and transparency,” Muliaman explained in Jakarta on Monday.
In addition, the cooperation will include the drafting of an Indonesia specific corporate manual. The manual will cover guidance for best practices in corporate governance and will be targeted at practitioners, company management and policy makers.
Mulaiman further added that the cooperation is also intended to realize a sound and sustainable financial system which will protect consumers and society’s interests.
To achieve this objective, Muliaman said that the OJK has made various efforts to encourage financial services companies toimprove their corporate governance.
“One of these efforts is through the annual report award,” he added.
Another initiative is the formation of a Corporate Governance Task Force (CGTF). This institution will work with the IFC to develop a corporate governance road map.
The task force will be comprised representatives from the OJK, Bank Indonesia (BI), the Ministry of State-Owned Companies, the Directorate General of Tax, the Finance and Development Supervisory Agency (BPKP), the Indonesia Accountant Association (IAI), and the Indonesia Stock Exchange (BEI).
“The CGTF will complete drafting the road map by July 2013. Afterwards, the OJK and the IFC will announce the road map to both the private and public sectors," Mulaiman asserted.
Director of the IFC for East Asia and Pacific Region, Sergio Pimenta, said that the IFC has organized ten seminars consisting of training forums to introduce the GCG program.
“Corporate governance standards and its implementation will improve the competitiveness and sustainability of business and most importantly economic development. Our partnership with the OJK will strengthen Indonesia’s financial system,” he added.
In the East Asia and Pacific Region, the IFC also has produced an annual report scorecard for large companies listed on the Vietnamese stock exchanges.
(hot/kc)