Fathan Qorib, Yanuar Pribadhie
The upcoming transfer of banking supervision from Bank Indonesia (BI) to the Financial Services Authority (OJK) requires both institutions to maintain good communications and coordination so they are able to manage the economic issues facing Indonesia
The necessity for good communication and coordination between the two institutions was emphasized by Maruarar Sirait, lawmaker from Commission XI of the House of Representatives in Jakarta on Tuesday.
Maruarar added that relations between the top management of both institutions will have an impact on the attitude and work approach of subordinate staff at each institution.
“The better communications they maintain, the easier they can deal with economic challenges,” said Maruarar.
The communication issue was also addressed by OJKs Chairman, Muliaman D Hadad. According to Muliaman, good communication will ensure a smooth transition, especially in relation to the four important aspects of a clear separation between macro and micro prudential issues, transfer of data and information, the use of BI’s assets by the OJK, and sharing of human resources.
“In practice here are too much grey areas between macro and micro prudential issues that can potentially lead to friction between the work of both institutions. Good communication will be important in this regard,” said Muliaman.
Muliaman also highlighted the issue of human resources as to do is job properly the OJK will require personnel with internal audit experience and legal knowledge. Muliaman hopes that BI will assign employees with these capabilities to the OJK.
In response, Agus Martowardojo, Governor of BI, assured that there will be no problems regarding communication between the two institutions.
According to Agus, all the issues that need to be addressed have already been covered in the joint decree signed by BI and the OJK in October.
“We have talked about those points and have already addressed them in the joint decree between BI and the OJK. The issue is how to create a platform that enables information exchange between BI and the OJK so that there will be no hinderances,” said Agus.
(hot/kc)
Fathan Qorib, Yanuar Pribadhie
The upcoming transfer of banking supervision from Bank Indonesia (BI) to the Financial Services Authority (OJK) requires both institutions to maintain good communications and coordination so they are able to manage the economic issues facing Indonesia
The necessity for good communication and coordination between the two institutions was emphasized by Maruarar Sirait, lawmaker from Commission XI of the House of Representatives in Jakarta on Tuesday.
Maruarar added that relations between the top management of both institutions will have an impact on the attitude and work approach of subordinate staff at each institution.
“The better communications they maintain, the easier they can deal with economic challenges,” said Maruarar.
The communication issue was also addressed by OJKs Chairman, Muliaman D Hadad. According to Muliaman, good communication will ensure a smooth transition, especially in relation to the four important aspects of a clear separation between macro and micro prudential issues, transfer of data and information, the use of BI’s assets by the OJK, and sharing of human resources.
“In practice here are too much grey areas between macro and micro prudential issues that can potentially lead to friction between the work of both institutions. Good communication will be important in this regard,” said Muliaman.
Muliaman also highlighted the issue of human resources as to do is job properly the OJK will require personnel with internal audit experience and legal knowledge. Muliaman hopes that BI will assign employees with these capabilities to the OJK.
In response, Agus Martowardojo, Governor of BI, assured that there will be no problems regarding communication between the two institutions.
According to Agus, all the issues that need to be addressed have already been covered in the joint decree signed by BI and the OJK in October.
“We have talked about those points and have already addressed them in the joint decree between BI and the OJK. The issue is how to create a platform that enables information exchange between BI and the OJK so that there will be no hinderances,” said Agus.
(hot/kc)