Archive for February, 2010
The OJK Bill
February 28th, 2010 | 
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In two series of limited, closed discussion, one Member of Parliament and government representatives in Indonesia who are both taking care of the bill argued that the government makes OJK. OJK bill is none other than by reason and spirit of the Act as well as a discussion by a parliamentary committee is now forming OJK. The structure of supervision of financial systems based on industry State Population (in millions) Banking Insurance Capital Markets. They acknowledge that the actual spirit of the act are not set in stone and can be reviewed if it is associated with the last condition. OJK in England and strengthening bank supervision is function in some other developed countries.
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The Presence of Regulatory Agencies
The practice of regulatory is arbitrage by financial institutions business by creating products that regulatory oversight is more lax or partially in Indonesia. The presence of several regulatory agencies potentially create sector arrogance (Bog wars) and the transfer of responsibility (pass the buck), this is because the application of ineffective regulations. In addition, the duplication process of retrieval and data processing led to the inefficient application of the rules of regulatory agencies. Transfer of authority / transfer error can also occur if there are several financial supervisory institutions as well. Therefore, the establishment of supervisory institutions aimed at enhancing the competitive neutrality between organization supervisors. However, neutrality does not mean that supervision should be united. Then there is the view that financial practices in Indonesia were like the countries that have universal banking.