Fathan Qorib, Robert Sidauruk
The implementation of good corporate governance (GCG) by issuers and public companies is one of the most important matters for Indonesia moving towards the 2015 ASEAN Economy Community (AEC). The implementation of GCG principles must also be applied to the banking sector although the AEC for this sector will be not be enforced until 2020.
Chairman of the Indonesian Banks Associations (Perbanas), Sigit Pramono, contends that the role of the regulator is crucial to keep the implementation of GCG on track.
Sigit hopes that the transition from Bank Indonesia to the Financial Services Authority (OJK) in relation to supervisory and regulatory functions over the banking industry can be completed by 2014.
“With better preparation I hope we can enter the 2015 AEC not only as market provider but also as a player,” said Sigit in Jakarta on Wednesday.
In responding to this discussion, Nelson Tampubolon, Chief Executive of the Banking Sector at the OJK, said that his institution is fully committed to developing and improving the performance standards of banks.
Nelson also believes that companies with good implementation of GCG are more likely to survive global economic turbulence.
Although the OJK has yet to issue a regulation on GCG scoring, Nelson suggests that banks use the ASEAN Corporate Governance (ACG) Scorecard as a benchmark in developing their business through GCG.
“The ACG Scorecard can be a great tool to improve value of public companies in Indonesia,” added Nelson.
The OJK is also currently drafting a strategic plan for a GCG implementation roadmap in Indonesia specifically for issuers and public companies.
Nelson hopes that banks will perform a self-assessment test pursuant to this roadmap so that they can be at the same level as other international companies particularly in facing 2015 AEC.
“The OJK is currently conducting a strategic initiative by preparing a GCG Roadmap for issuers and public companies in Indonesia,” confirmed Nelson.
(hot/kc)
Fathan Qorib, Robert Sidauruk
The implementation of good corporate governance (GCG) by issuers and public companies is one of the most important matters for Indonesia moving towards the 2015 ASEAN Economy Community (AEC). The implementation of GCG principles must also be applied to the banking sector although the AEC for this sector will be not be enforced until 2020.
Chairman of the Indonesian Banks Associations (Perbanas), Sigit Pramono, contends that the role of the regulator is crucial to keep the implementation of GCG on track.
Sigit hopes that the transition from Bank Indonesia to the Financial Services Authority (OJK) in relation to supervisory and regulatory functions over the banking industry can be completed by 2014.
“With better preparation I hope we can enter the 2015 AEC not only as market provider but also as a player,” said Sigit in Jakarta on Wednesday.
In responding to this discussion, Nelson Tampubolon, Chief Executive of the Banking Sector at the OJK, said that his institution is fully committed to developing and improving the performance standards of banks.
Nelson also believes that companies with good implementation of GCG are more likely to survive global economic turbulence.
Although the OJK has yet to issue a regulation on GCG scoring, Nelson suggests that banks use the ASEAN Corporate Governance (ACG) Scorecard as a benchmark in developing their business through GCG.
“The ACG Scorecard can be a great tool to improve value of public companies in Indonesia,” added Nelson.
The OJK is also currently drafting a strategic plan for a GCG implementation roadmap in Indonesia specifically for issuers and public companies.
Nelson hopes that banks will perform a self-assessment test pursuant to this roadmap so that they can be at the same level as other international companies particularly in facing 2015 AEC.
“The OJK is currently conducting a strategic initiative by preparing a GCG Roadmap for issuers and public companies in Indonesia,” confirmed Nelson.
(hot/kc)