To Strengthen the Financial Services Industry, OJK Prepares Policy Priorities

Armfalcon.com, JAKARTA — The Financial Services Authority (OJK) ensures that it will continue to strengthen national resilience in the financial services industry. Chairman of the OJK Board of Commissioners, Mahendra Siregar said, this year, several policy priorities have been set that focus on three things.

“The first focus is strengthening the resilience of the financial services sector, secondly creating opportunities for growth in the financial sector and the national economy, and thirdly improving services and strengthening capacity,” said Mahendra in the Strengthening National Resilience Webinar in the Financial Services Industry, Monday (22/5/2023) ).

He ensured that in parallel it was no less important to be implemented, namely overcoming various problems faced by companies that were in trouble. Likewise, to find a solution.

“If efforts to find solutions from various companies experiencing this problem are not carried out, issues related to trust or confidence the industry or the entire financial services system will be affected,” said Mahendra.

Mahendra ensured that OJK would continue to observe, analyze and monitor potential risks. Mahendra considers this to be very useful in anticipating and mitigating the risk of impact on the stability of the financial services industry.

Mahendra explained, in a sustainable way, Indonesia was able to increase the resilience and resilience of the financial services sector. “In this case we want to see specifically how developments in the global context must be able to anticipate, monitor and mitigate them,” he said.

He acknowledged that risks to the impact of disturbances or threats from national, including international security can occur from anywhere. He gave an example, the failure of a US bank could have a potential systemic impact if left untreated.

“This is both the risk of sustainability, an increase in interest rates, the risk of increasing undesirable conditions such as inflation or conditions of excessive lending from one sector which is clear that the risk of economic and financial risks will directly affect,” said Mahendra explained.