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Ada Pertanyaan? Hubungi Kami Marcell Sihombing, Nando Narendra
In the midst of increasing globalization and the upcoming ASEAN Economic Community, the Financial Services Authority (OJK) continues to expand its cooperation network with foreign regulatory institutions.Last week, the OJK entered into cooperation with the China Banking Regulatory Commission (CBRC). Marking the cooperation, representatives from both institutions signed a Memorandum of Understanding (MoU) at OJK’s office in Jakarta last Thursday.
Zhou Mubing, CBRC’s Deputy Chairman and representative of CBRC in the MoU, said that the cooperation in the banking sector between Indonesia and China also marks the 65th anniversary of the Indonesia-China cooperation partnership.
Muliaman D. Hadad, Chairman of OJK’s Board of Commissioners and the OJK’s signatory for the MoU, hopes that the cooperation arrangement will serve as a stepping stone for Indonesian banks to expand their business into China. He also expects that Indonesian banks will conduct business using the Chinese yuan currency.
“We encourage China to give broader chances to our banks,” Mr. Hadad added.
Mr. Hadad further explained that currently, Bank Mandiri is the only Indonesian bank that operates in China with a branch in Shanghai. The OJK says that it intends to keep on encouraging national banks to extend and expand their business operations outside Indonesia, particularly to China.
“I encourage both state-owned banks and private banks. What matters is the Chinese government opens their doors wide,” commented Mr. Hadad.
The MoU between OJK and CBRC covers a broad range of matters including exchange of information, improvement of supervisory capacity for both institutions, and the exchange of information regarding their experience regarding banking supervision.
Mr. Hadad said that the cooperation between the OJK and CBRC is limited to the banking industry, because unlike the OJK, which supervises all types of financial services, CBRC specifically supervises China’s banking sector. Despite this limitation, he believes that the cooperation may give way to increased cooperation in the future.
“Hopefully this can open up the possibility of long term funding for infrastructure projects. We are encouraging them towards infrastructure and trade financing,” concluded Mr. Hadad.
(hot/kc)
Marcell Sihombing, Nando Narendra
In the midst of increasing globalization and the upcoming ASEAN Economic Community, the Financial Services Authority (OJK) continues to expand its cooperation network with foreign regulatory institutions.Last week, the OJK entered into cooperation with the China Banking Regulatory Commission (CBRC). Marking the cooperation, representatives from both institutions signed a Memorandum of Understanding (MoU) at OJK’s office in Jakarta last Thursday.
Zhou Mubing, CBRC’s Deputy Chairman and representative of CBRC in the MoU, said that the cooperation in the banking sector between Indonesia and China also marks the 65th anniversary of the Indonesia-China cooperation partnership.
Muliaman D. Hadad, Chairman of OJK’s Board of Commissioners and the OJK’s signatory for the MoU, hopes that the cooperation arrangement will serve as a stepping stone for Indonesian banks to expand their business into China. He also expects that Indonesian banks will conduct business using the Chinese yuan currency.
“We encourage China to give broader chances to our banks,” Mr. Hadad added.
Mr. Hadad further explained that currently, Bank Mandiri is the only Indonesian bank that operates in China with a branch in Shanghai. The OJK says that it intends to keep on encouraging national banks to extend and expand their business operations outside Indonesia, particularly to China.
“I encourage both state-owned banks and private banks. What matters is the Chinese government opens their doors wide,” commented Mr. Hadad.
The MoU between OJK and CBRC covers a broad range of matters including exchange of information, improvement of supervisory capacity for both institutions, and the exchange of information regarding their experience regarding banking supervision.
Mr. Hadad said that the cooperation between the OJK and CBRC is limited to the banking industry, because unlike the OJK, which supervises all types of financial services, CBRC specifically supervises China’s banking sector. Despite this limitation, he believes that the cooperation may give way to increased cooperation in the future.
“Hopefully this can open up the possibility of long term funding for infrastructure projects. We are encouraging them towards infrastructure and trade financing,” concluded Mr. Hadad.
(hot/kc)