OJK Strengthens Cooperation with the Financial Authorities of Australia and Japan

- 06 June 2022 11:21 WIB
The signing of the OJK Memorandum of Understanding (MoU) with APRA and the Exchange of Letter (EoL) with JFSA was carried out on a hybrid basis in Bali, Friday, June 3, 2022. (Photo/OJK).
The signing of the OJK Memorandum of Understanding (MoU) with APRA and the Exchange of Letter (EoL) with JFSA was carried out on a hybrid basis in Bali, Friday, June 3, 2022. (Photo/OJK).

The discussion was attended by several leaders of international institutions, namely Chairman of APRA Wayne Byres, Director General of Strategy Development and Management Bureau JFSA Matsuo Motonobu, Deputy Governor of Korean Financial Supervisory Service Lee Jin-Seok, and Chief Risk Officer of China Banking and Insurance Regulatory Commission LiuFusho.

During the discussion, there was a discussion that the Covid-19 pandemic has changed consumer behavior towards more efficient, sustainable, and digitized channels in all aspects of life. These changes provide opportunities as well as create various types of risks for the financial sector.

In addition, significant global challenges such as climate change, geopolitical tensions, changing demographic trends, and evolving regulations will also have a significant impact on the financial sector in the medium to long term.

These macro trends and developments are important for financial authorities in maintaining financial system stability.

"I believe this is the right time for us to learn from each other's experiences in responding to these changes and dynamics. Therefore, today's discussion serves as a good platform for us to exchange information and to further strengthen our collaboration in achieving global economic recovery," said Wimboh at the opening of the discussion.

Furthermore, Wimboh explained that the stability of Indonesia's financial services sector was well maintained with strong growth indicators that contributed to the process of Indonesia's economic recovery.

Also Read: OJK Launches Digital Suptech Integrated Data Analytics Financial Supervisory Technology

This can be seen from the banking intermediation function in April 2022 which recorded a positive trend with credit growth of 9.10 percent year on year with all categories of debtors recording an increase, especially MSMEs and retail.

The performance of multi-finance companies also continues to improve, as indicated by growing financing (4.51 percent yoy) and declining NPF (2.7 percent), supported by a stable gearing ratio (2.01 times) in April 2022.

Global inflation and the normalization of monetary policy have also put pressure on the domestic capital market. The non-resident government bond portfolio recorded a net sell of YTD of Rp.103.54 trillion, while the Equity market recorded a net buy of YTD of Rp.62.91 trillion as of May 20, 2022.

Page:
1
2
3

Editor: Suksmajati Kumara

Tags

Related Article

Latest News

X