Formed 2011 (2011) Website www.ojk.go.id Founded 2011 | ||
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Agency executive Muliaman D. Hadad, Chairman Superseding agency Badan Pengawas Pasar Modal dan Lembaga Keuangan | ||
Financial Services Authority of Indonesia (Indonesian: Otoritas Jasa Keuangan or OJK) is an Indonesian government agency which regulates and supervises the financial services sector. The OJK is an autonomous agency designed to be free from any interference, having functions, duties, and powers to regulate, supervise, inspect, and investigate. The agency was established in 2011 to replace the role of Bapepam-LK in regulating and supervising the capital market and financial institutions, as well as that of Bank Indonesia in regulating and supervising banks, and to protect consumers of financial services industry.
Contents
History
The agency was created in 2011 under the Act No. 21 of 2011 which organised system of regulation and supervision of financial services. It replaced the functions of the Capital Market and Financial Institutions Supervisory Agency (Badan Pengawas Pasar Modal dan Lembaga Keuangan) or Bapepam-LK in short.
Functions
The Financial Services Authority was formed so that the whole activities in the financial services sector:
Bank Members of Financial Services Authority (Indonesia)
NOTE: All bank have registered and Supervised by Financial Service Authority (Indonesia)
Islamic Bank Members of Financial Services Authority (Indonesia)
NOTE: All Islamic bank have registered and Supervised by Financial Service Authority (Indonesia)