- The Financial Services Authority (“OJK”) signed an updated Memorandum of Understanding (“MoU”) with the Ministry of Internal Affairs (“Ministry”) on 25 February 2019 which addresses the utilization of citizens’ data and the optimization of the team dealing with the acceleration of regional financial access. The OJK also signed a separate MoU with the Financial Transaction Reporting and Analysis Center (“PPATK”) on the same date.
- The updated MoU with the Ministry addresses the following matters: 1) Establishment and development of guarantee institutions for regional sectors; 2) Development of financial literacy and inclusion, as well as consumer protection at both the central and regional levels; 3) Utilization of financial products and/or services in order to promote understanding of financial markets and financing at the regional level and so forth.
- Meanwhile, the MoU which was signed with the PPATK addresses the synchronization of various efforts to prevent and eradicate the criminal acts of money laundering and terrorism financing.
- For more on this story, see Hukumonline: “Tingkatkan Perlindungan Konsumen, OJK Perkuat Kerjasama dengan Kemendagri”.
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