REPUBLIKA.CO.ID, MANADO -- The Financial Service Authority (OJK) states that it will revitalize regional development banks (BPD) to meet targets set for the banks which are owned by regional administrations.

"OJK will revitalize the role of BPD, certainly not at the expense of other financial industries in the regions," head of the North Sulawesi, Gorontalo and North Maluku OJK Purnama Jaya said on Saturday, February 28.

OJK encourages the financial sector to take a greater role in boosting economic expansion in the regions, adding for that purpose the role of BPDs would be revitalized. Therefore, coordination is needed between regional administrations, regional legislative assemblies, banking associations and OJK.

"OJK wants to improve the competitiveness of BPDs all over the country including in this region," he said.

The initiative is to unite the information technology platform, human resources, products and services and risk management of all BPDs.

"The unification of the platform, will make it easier for BPD clients all over Indonesia to conclude transactions," he said. He said BPDs are expected to be the largest banks in their respective areas , especially after the implementation of ASEAN free market that would force BPDs to face a healthy competition.

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