REPUBLIKA.CO.ID, JAKARTA -- The Financial Service Authority (OJK) has set out 10 key policies, from optimizing Information Technology in overseeing industry players to non-bank financial sector and capital market reforms, for the period 2017-2022.
"We have planned to make OJK an independent and credible institution for forming a sustainable financial services sector," Chairman of the Board of Commissioners of the Financial Services Authority Wimboh Santoso said in a press statement received here on Monday.
In addition, the OJK should be able to protect consumers and society as well as facilitate the role of financial services sector in realizing the welfare of the people," Santoso remarked.
The 10 main policies of OJK include developing the supervision of Financial Services Sector (SJK) based on Information Technology, followed by strengthening integrated arrangements, licensing, and monitoring of financial conglomerates.
Furthermore, implementing the best Prudential International Standards with national interests.
"Reforming the Non-Bank Financial Industry (IKNB) to realize a strong and competitive industry, conducting efficiency in the financial services industry, and revitalizing capital markets in supporting long-term development financing.
In addition, optimizing the role of Financial Technology through its proper arrangements, permits, and supervision.
"Reducing the level of inequality, through the provision of financial access, and improving the effectiveness of educational activities and consumer protection, as well as encouraging the increasing role of Islamic finance in supporting the provision of development funding sources," he stated.
To implement the 10 big tasks, OJK requires a strong and solid organization, he noted.
Therefore, it is necessary to improve the various aspects of internal management in order to make decisions faster.
"Work processes can be done more effectively and efficiently," he concluded.
The House of Representatives (DPR) earlier named Wimboh Santoso as chief commissioner of the Financial Service Authority (OJK) for the 2017-2022 term to replace Muliaman D. Hadad.
Wimboh garnered 50 votes from members of the House Commission XI, outclassing Sigit Pramono who received four votes.
"We declare Santoso as the new chief commissioner of OJK," Chief of the House Commission XI Melchias Markus Mekeng stated while banging the gavel after the vote counting.
In total, 55 members of the House Commission XI cast vote in the election for the OJK chief commissioner. Santoso won the election by the vast majority vote, outclassing banker Pramono, who has spent 35 years of his time in the banking industry.
One member of the House Commission XI abstained from the voting.
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