REPUBLIKA.CO.ID, TANJUNG PANDAN - Financial Services Authority (OJK) supports the development of domestic bond market as instrument of long term financing in infrastructure development. Vice Chairman of OJK Board, Rahmat Waluyanto said that domestic bond comprised of several types of government securities, corporate bonds and municipal bonds.
"Now we are doing a joint program with Bank Indonesia (BI) and government, especially Ministry of Finance and self regulation organization (SRO) to develop the debt market or bonds," Waluyanto said recently.
Long term financing instrument is needed infrastructure financing, while bonds are also needed to assist the development of non-bank financial industry, especially insurance and pension funds. Yet, not many provision of long term instruments for insurance industry and pension funds are available today, due to the current corporate bond market.Development of securities's market is believed to help the insurance industry and pension funds to manage its assets and liabilities.
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