Ada Pertanyaan? Hubungi Kami 
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Ada Pertanyaan? Hubungi Kami Fathan Qorib, Andin Aditya Rahman
Potential and prominent candidates for the Senior Deputy Governor of Bank Indonesia (BI) are currently going through the required fit and proper test at the House of Representatives (House). The fit and proper test assesses the competency, character and expertise of the person who will become the right-hand man of the future Governor of BI for a 5 year term starting later this year.
Of the candidates put forward, President Yudhoyono, who will end his presidency in a matter of months, only put forward one name to the House, Mirza Adityaswara, the current Senior Deputy Governor of BI.
A particularly interesting issue discussed during Mr. Adityaswara’sfit and proper test was coordination problems between BI and the Financial Services Authority (OJK), especially related to the authority to oversee the banking sector.
As all stakeholders in the banking industry know, from 1 January this year with the birth of the OJK, BI kept its power over macro-prudential matters but the OJKbecame responsible for micro-prudential matters. The split authority is a curiosity for lawmakers who are interested to see its practical implications.
“What kind of measures will you carry out when the ego of each sector is still high?” asked Maruarar Sirait, lawmaker of Commission XI at the House.
Mr. Sirait warned that if BI and the OJK continue to fail to be in step with each other, there will be negative consequences on the financial service sector. To this end, Mr. Siraitsaid that both government institutions must start acting in a civilized manner.
“There needs to be civilized conduct from both parties,” stated Maruarar.
Responding to the issue, Mr. Adityaswara admitted that thorough discussions are required to bridge the gap between BI and the OJK, specifically regarding their respective authorities.
“BI must understand micro, and OJKmust understand macro,” emphasized Mr. Adityaswara.
According to Mr. Adityaswara, macro-prudential policies may affect micro-prudential instruments, such as policies on loan to deposit ratios (LDR) or the credit ratio of third party capital.
On the LDRsubject, Mr. Adityaswaraexplained that BI implements stringent LDRpolicies in order to control imports. Despite this important objective, this can also result in consequences for the banking sector under OJK’sauthority.
“These areas are continuously being discussed at the technical levels so that there will be no problems in the future on what is under whose authority. We are committed that this issue must have a solution,” Mr. Adityaswarasaid.
Mr. Adityaswarafurther added that coordination meetings between BI and OJKare not limited to the technical level. There are also monthly discussion meetings between top-level officials of these two giant government institutions.
“This is, of course, not yet perfect. We encourage further in-depth financial market coordination to be expedited,” concluded Mirza.
(For a complete analysis on the OJK, see: ILD No. 346)
(hot/kc)
Fathan Qorib, Andin Aditya Rahman
Potential and prominent candidates for the Senior Deputy Governor of Bank Indonesia (BI) are currently going through the required fit and proper test at the House of Representatives (House). The fit and proper test assesses the competency, character and expertise of the person who will become the right-hand man of the future Governor of BI for a 5 year term starting later this year.
Of the candidates put forward, President Yudhoyono, who will end his presidency in a matter of months, only put forward one name to the House, Mirza Adityaswara, the current Senior Deputy Governor of BI.
A particularly interesting issue discussed during Mr. Adityaswara’sfit and proper test was coordination problems between BI and the Financial Services Authority (OJK), especially related to the authority to oversee the banking sector.
As all stakeholders in the banking industry know, from 1 January this year with the birth of the OJK, BI kept its power over macro-prudential matters but the OJKbecame responsible for micro-prudential matters. The split authority is a curiosity for lawmakers who are interested to see its practical implications.
“What kind of measures will you carry out when the ego of each sector is still high?” asked Maruarar Sirait, lawmaker of Commission XI at the House.
Mr. Sirait warned that if BI and the OJK continue to fail to be in step with each other, there will be negative consequences on the financial service sector. To this end, Mr. Siraitsaid that both government institutions must start acting in a civilized manner.
“There needs to be civilized conduct from both parties,” stated Maruarar.
Responding to the issue, Mr. Adityaswara admitted that thorough discussions are required to bridge the gap between BI and the OJK, specifically regarding their respective authorities.
“BI must understand micro, and OJKmust understand macro,” emphasized Mr. Adityaswara.
According to Mr. Adityaswara, macro-prudential policies may affect micro-prudential instruments, such as policies on loan to deposit ratios (LDR) or the credit ratio of third party capital.
On the LDRsubject, Mr. Adityaswaraexplained that BI implements stringent LDRpolicies in order to control imports. Despite this important objective, this can also result in consequences for the banking sector under OJK’sauthority.
“These areas are continuously being discussed at the technical levels so that there will be no problems in the future on what is under whose authority. We are committed that this issue must have a solution,” Mr. Adityaswarasaid.
Mr. Adityaswarafurther added that coordination meetings between BI and OJKare not limited to the technical level. There are also monthly discussion meetings between top-level officials of these two giant government institutions.
“This is, of course, not yet perfect. We encourage further in-depth financial market coordination to be expedited,” concluded Mirza.
(For a complete analysis on the OJK, see: ILD No. 346)
(hot/kc)