Integrity in the financial system can bring positive perception: OJK

Bandung, West Java (ANTARA) – Director General of Banking Supervision of the Financial Services Authority (OJK), Dian Ediana Rae, said a financial system with integrity results in a positive perception and, therefore, contributes to economic growth.

“A financial system with integrity will result in a positive perception of the national financial system, which is currently still troubled by some issues,” Rae explained in a media chat here on Sunday.

According to him, the current national financial system needs to be improved as it still has problems such as underground economy transactions like online gambling, drug dealing and unofficial or illegal online lending.

Meanwhile, OJK plays a role in improving the financial system. If integrity has been built into the system, it will be easier to attract foreign and domestic investment, he said.

“That will be our mission for the next five years. Everything must be dealt with fundamentally and systemically. Maintaining trust and integrity,” he said.

However, Rae said that building a financial system with integrity is not only the responsibility of the OJK, but it is a shared responsibility of many institutions and the community.

In addition, he also mentioned that the domestic financial industry is currently entering a very decisive period due to the dynamic conditions.

Therefore, he stressed, OJK cannot stand alone. Cooperation and collaboration have become essential.

As a financial industry regulator, OJK must be able to balance three important elements: stability, consumer protection and innovation, Rae said.

In addition, OJK’s balancing acts that monitor business interests, public interests, consumer protection, government policies, and Bank Indonesia policies must be carried out in a systemic and measurable manner.

“The integrity of the financial system must be fundamentally based on improving the performance of the financial sector over the long term,” Rae added.

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