TUGAS DAN FUNGSI OTORITAS JASA KEUANGAN (OJK)

Summary

This presentation provides an in-depth overview of Otoritas Jasa Keuangan (OJK), Indonesia's independent financial regulatory body. The group explains OJK’s mission to regulate, supervise, and investigate the financial services sector, ensuring its stability and transparency. They discuss its history, vision, mission, and objectives, highlighting the body’s efforts to protect consumers, foster economic growth, and maintain a sustainable financial system. Key principles such as independence, legal certainty, and public interest guide OJK's operations, ensuring fair practices across the banking, insurance, and non-banking sectors.

Takeaways

• 😀 OJK (Otoritas Jasa Keuangan) is an independent institution in Indonesia responsible for regulating and supervising the financial services sector.
• 😀 OJK aims to protect consumers, ensure a stable financial system, and support national economic growth through its regulatory and supervisory roles.
• 😀 OJK was officially established in 2011, with full operational duties in financial services regulation beginning in 2013.
• 😀 The transition of banking supervision from Bank Indonesia to OJK was completed by December 2013, marking OJK's full operational status.
• 😀 OJK's vision is to become a trusted financial services regulator that fosters a competitive, stable, and globally competitive financial sector.
• 😀 The mission of OJK is to ensure that financial activities are conducted transparently, fairly, and sustainably, protecting both consumers and the financial system.
• 😀 OJK regulates a broad range of financial services, including banking, the capital market, insurance, pension funds, and non-bank financial institutions.
• 😀 The OJK has the authority to create and enforce regulations, oversee financial institutions, and intervene in cases of financial instability.
• 😀 The organization follows several core principles such as independence, transparency, accountability, professionalism, and integrity in all its operations.
• 😀 OJK's legal foundation is based on Indonesian laws, particularly the 1999 Bank Indonesia Law, and responds to the challenges posed by globalization and technological advancement in the financial sector.

Q & A

What is Otoritas Jasa Keuangan (OJK)?

Otoritas Jasa Keuangan (OJK) is an independent institution in Indonesia responsible for regulating, supervising, inspecting, and investigating the financial services industry, including banking, capital markets, insurance, and non-bank financial institutions.

When was OJK officially established?

OJK was officially established on 15 August 2012 with the creation of the transition team and fully began its operations in regulating and overseeing financial services by 31 December 2013.

What are the primary duties of OJK?

OJK's primary duties include regulating and overseeing the activities of financial institutions, ensuring compliance with financial laws, and protecting consumer interests. This includes sectors such as banking, insurance, pension funds, capital markets, and other non-bank financial institutions.

What is the vision of OJK?

The vision of OJK is to be a trusted and credible financial services regulator, protecting consumer interests and helping to create a stable, competitive financial system that contributes to the national economy.

What are the key missions of OJK?

OJK's missions are to ensure that the financial sector operates in an orderly, fair, transparent, and accountable manner, while promoting sustainable financial system growth and stability.

What are the key objectives of OJK?

OJK's key objectives are to maintain public trust in the financial sector, enforce financial regulations, protect consumer interests, and contribute to the creation of a stable and sustainable financial system.

How does OJK oversee financial institutions?

OJK oversees financial institutions by creating and enforcing regulations, monitoring their activities, ensuring compliance with financial laws, and taking action when necessary, including appointing administrators for institutions that fail to comply.

What powers does OJK have in regulating the financial industry?

OJK has the power to issue regulations, oversee financial institutions' activities, enforce laws, and take administrative actions to ensure the integrity and stability of the financial system. It can also set operational policies and supervise financial institutions.

What are the guiding principles of OJK's operations?

OJK operates based on the principles of independence, legal certainty, public interest, transparency, professionalism, integrity, and accountability, which guide its decisions and actions.

What role does OJK play in protecting consumer interests?

OJK plays a vital role in protecting consumer interests by ensuring that financial services are provided transparently, fairly, and responsibly, and by offering reliable oversight to maintain a healthy financial environment for consumers.