Ministry, OJK intensify cooperation in digital finance sector

The two parties are stepping up cooperation in handling illegal online lending. We will reevaluate the cooperation. In principle, the Ministry supports the decision of the OJK

JAKARTA (ANTARA) – The Ministry of Communications and Informatics is working with the Financial Services Authority (OJK) to strengthen cooperation in dealing with electronic systems and operators of electronic systems in the financial sector.

Communications and Informatics Minister Johnny G. Plate stated that the previously forged collaboration with the new OJK Commission Council will be strengthened as part of its service to the community.

“The two parties are stepping up cooperation to handle illegal online lending. We will reevaluate the cooperation. In principle, the ministry supports the OJK’s decision,” Plate stated in a press release on Saturday.

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The minister stressed that inter-departmental and inter-institutional collaboration is key to facilitating speedy and accurate decision-making and supporting efforts to streamline community services.

In addition, Plate noted that the two parties discussed registration of electronic systems and operators of electronic systems in the financial sector. Registration was deemed necessary to protect consumer rights in Indonesia.

Discussions between Plate and OJK Chair Mahendra Siregar also addressed data governance in national jurisdictions and cross-border data. He said the cooperation between the two parties aims to ensure the system runs well in the digital space for all financial and banking activities.

“The OJK plays an important role as an authority in the financial services sector, while the police take over law enforcement and strengthen resilience against cyber attacks. Although the collaboration has gone well, we need to meet regularly to align our vision,” Plate noted.

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Meanwhile, OJK Chairman Mahendra Siregar reiterated that efforts to strengthen the telecommunications and information system would help strengthen the country amid cyber threats.

“We submitted matters related to technical matters and governance needs and interests from a financial perspective to be synchronized with the Minister of Communications and Informatics’ perspective,” he noted.

Siregar expressed optimism that the cooperation between OJK and the Ministry of Communications and Informatics will be more synergistic in the future.

“We need to be able to empower each other. Our discussion will continue at a more operational and technical level,” he said.

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