The Financial Services Authority’s Role and the Future of the Finance Sector

ON October 12 and 13, Indonesia’s Financial Services Authority (OJK), will hold a number of activities to contribute to the success of the
International Monetary Fund (IMF)-World Bank Annual Meetings in Nusa Dua, Bali.

“Various activities are going to be held by OJK to support the IMF-World Bank Annual Meetings,” said OJK Deputy Commissioner for
Strategic and Logistics Management Anto Prabowo. “So that the results of the meetings can be followed by actions in the forms of events that are easy to implement and can really contribute to Indonesia as a host, especially for the country’s financial services industry,” Mr.
Prabowo said.

There are at least five activities that will be organized by OJK in the Annual Meetings. One was called the High Level Policy Dialogue
Forum: The Future of Finance. At this event, OJK will facilitate forums for top authorities as well as respected academics and experts
from foreign counterparts. The agency will enable those parties to interact and discuss with leaders from financial services sector and
multilateral institutions. Discussion is expected to cover the topic of financial services industry’s transformation in the age of digital
technology revolution—as an effort to boost financial inclusion and achieve the country’s sustainable economic growth targets.

This forum will discuss performances and accomplishments of the Sustainable Development Goals (SDGs) efforts made in the past three
years and future challenges up to 2030 in both developing and developed countries, as well as the impacts of digital disruption to
the economy and financial sector.

The theme of the discussion is called “The Future of Finance” that will bring Wimboh Santoso (Chairman, OJK), Joseph Stiglitz (Professor from Columbia University), Ma Jun (Tsinghua National Institute of Financial Research), Philip A Hammond (Chancellor of the Exchequer, United Kingdom), and John B Taylor (Professor from Stanford University) together in one stage.

OJK will also hold OJK Fintech Talk Seminar. This seminar is aimed to better understand fintech’s role as a financial inclusion platform
that can help boost funding access for micro, small and medium enterprises as well as Islamic finance.

In addition to that, OJK will hold a seminar called “International Research Seminar on Financial Sector and the Future of Finance.” This
research seminar aims to display the results of recent research from various universities overseas and OJK’s own research in cooperation
with Indonesian universities regarding current financial issues.

According to Mr Prabowo, the event in Bali is also going to be taken as an opportunity for Financial Service Authority (FSA) in Asia to
hold a coordination meeting. This forum is an initiative from OJK and the initial forum for FSA in Asia—independent bodies with the function
of monitoring the integrated financial services industry, separate from the Central Bank’s function. Financial authorities from South
Korea and Japan are scheduled to attend the event.

Apart from the official event, in support of Indonesia’s environmental sustainability commitment, OJK will also hold an Agarwood—fragrant
dark resinous wood—planting event with leaders of the financial services industry. OJK hopes that the trees will grow well and can
benefit the local community. (Try/E-2)

Peran OJK dan Masa Depan Sektor Keuangan

MULAI 12 dan 13 Oktober, Otoritas Jasa Keuangan (OJK) menggelar sejumlah kegiatan sebagai upaya memberikan nilai tambah Pertemuan Tahunan Dana Moneter Internasional-Bank Dunia (IMF – Bank Dunia) yang dihelat di Nusa Dua, Bali.

“Berbagai kegiatan digelar OJK untuk mendukung pertemuan tahunan IMF – Bank Dunia agar hasil dari kegiatan tersebut dapat langsung disajikan dalam bentuk event yang bersifat implementatif dan memberikan kontribusi nyata bagi Indonesia sebagai negara penyelenggara, terutama untuk Industri Jasa Keuangan Indonesia,” kata Deputi Komisioner Manajemen Strategis dan Logistik Anto Prabowo.

Sedikitnya lima kegiatan yang akan digelar OJK di Bali yaitu, High Level Policy Dialogue Forum: The Future of Finance. Di event ini, OJK memfasilitasi forum bagi pimpinan otoritas dan akademisi/ahli terpandang dari luar negeri berinteraksi dan berdiskusi bersama para pimpinan industri jasa keuangan, lembaga multilateral mengenai transformasi sektor jasa keuangan di tengah era revolusi teknologi digital dalam rangka meningkatkan inklusi keuangan dan mencapai target pertumbuhan ekonomi yang berkelanjutan (sustainable development).  

Dalam forum ini akan dibahas pencapaian sustainable development goals (SDGs) selama tiga tahun terakhir dan tantangan ke depan sampai 2030 di negara berkembang maupun maju, serta pengaruh disrupsi kemajuan teknologi digital ke depan terhadap ekonomi dan sektor keuangan.

Tema dialog yang diangkat adalah “The Future of Finance” dan menghadirkan narasumber yakni Wimboh Santoso (Chairman, OJK), Joseph Stiglitz (Profesor dari Columbia University), Ma Jun (Tsinghua National Institute of Financial Research), Philip A Hammond (Chancellor of the Exchequer, United Kingdom), dan John B Taylor (Profesor dari Standford University).

Selain itu, kata Anto, juga akan digelar OJK Fintech Talk Seminar. Seminar ini merupakan upaya OJK untuk mendapatkan perspektif yang lebih luas dan menyeluruh dalam mendalami peran Fintech sebagai platform inklusi keuangan dan peningkatan akses pendanaan bagi segmen mikro dan SME serta Keuangan Syariah.

Tak hanya itu, OJK juga akan menggelar International Seminar Research on Financial Sector and the Future of Finance. Seminar riset ini bertujuanmenampilkan hasil penelitian terkini dari berbagai universitas luar negeri dan riset OJK bersama universitas dalam negeri mengenai isu-isu sektor keuangan yang sedang berkembang pada saat ini.

Menurut Anto, event di Bali ini juga dimanfaatkan OJK untuk mengadakan pertemuan koordinasi antara Financial Service Authority (FSA) di Asia. Forum ini  merupakan inisiatif OJK dan merupakan forum awal bagi FSA di Asia yang bentuknya independen, yakni fungsi pengawasan industri jasa keuangannya terintegrasi dan tidak menyatu dengan fungsi bank sentral. Dijadwalkan akan hadir otoritas keuangan dari Korea dan Jepang.

Di luar acara resmi tersebut, untuk mendukung pemberdayaan lingkungan hidup yang berkelanjutan, OJK akan melakukan penanaman pohon gaharu bersama pimpinan pelaku industri jasa keuangan. Diharapkan bibit-bibit pohon yang ditanam tumbuh baik dan dapat dimanfaatkan serta memberikan nilai tambah ekonomis bagi masyarakat sekitar. (Try/E-2)