Banking Supervision Chief Executive of the Financial Services Authority (OJK) Dian Ediana Rae stated that 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 for the national financial system, which is currently still troubled by some problems,” Rae explained in a discussion with the media here on Sunday.
According to him, the current national financial system needs to be improved as it still has some problems such as the shadow economy transactions like online gambling, drug transactions, and unofficial or illegal online loans.
Meanwhile, OJK plays a role in improving the financial system. If integrity has been built into the system, it will make it easier to attract foreign and domestic investment, he said.
“This will be our mission for the next five years. It must all be addressed fundamentally and systemically. Uphold trust and integrity,” he said.
However, Rae said that building a financial system with integrity is not only the OJK’s responsibility, but it is a shared responsibility of many institutions and the community.
Furthermore, he also mentioned that the national financial industry is currently entering a very decisive period due to the dynamic conditions.
Hence, he emphasized, OJK cannot stand alone. Cooperation and collaboration have become a must.
As a regulator of the financial industry, OJK must be able to balance three important things: stability, consumer protection, and innovation, Rae stated.
Moreover, OJK’s balancing acts that monitor business interests, public interests, consumer protection, government policies, and Bank Indonesia’s policies must be conducted systemically and measurably.
“The integrity of the financial system must be built fundamentally in improving the performance of the financial industry in the long term,” Rae added.
Source: Antara News