REPUBLIKA.CO.ID, JAKARTA -- Indonesian Financial Service Authority (OJK) releases 20 regulations or known as POJK to rearrange structure of financial service supervision, deepen financial market and expand the access of financial products and services. The regulations consist of six regulations on banking, seven regulations on capital market and seven regulations on non-banking financial industry.
The six regulations on banking are the implementation of integrated governance of financial conglomerate, integrated risk management of financial conglomerate, branchless banking for financial inclusion or called Laku Pandai, operational and establishment of rural banks (BPR), obligatory minimum capital requirement (KPMM) for sharia banking and asset quality for Commercial Islamic Banks (BUS) and Islamic Business Unit (UUS).
On capital market, the regulations are knowing your customer principle by financial services providers on capital market, exchange transaction settlement guarantee, guidance on the issue of asset backed securities for housing loan, guidance on investment manager practice, license on vice investment manager, monthly report on Asset Backed Securities – Collective Investment Contract (KIK-EBA) and license on deputy underwriter and vice brokerage.
Meanwhile on non-banking financial industry, the seven regulations are operating procedure for multi finance, operating procedure for sharia multi finance, good governance for multi finance, license for multi finance, operating procedure for micro finance, license for micro finance, and capacity building and supervision for microfinance.
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