BI Submits Some of its Authority to OJK

By : Wiyanto Dan Aldo Bella Putra | Friday, December 29 2017 - 19:00 IWST

OJK
OJK

INDUSTRY.co.id - Jakarta - Bank Indonesia (BI) transferred the function of arranging, developing and managing Credit Information System to Financial Services Authority (OJK) as mandated by Law Number 21 Year 2011 regarding Financial Services Authority.

The statement was signed by Anto Prabowo, Deputy Commissioner of OJK Strategic and Logistics Management and Executive Director of the Communication Department of BI Agusman. Thus the press release received by Industry.co.id in Jakarta, Friday (29/12/2017).

The transfer of functions is marked by the signing of the Official Report on the Handover (BAST) of the transfer of functions, duties, authorities and responsibilities for the regulation, development and management of Credit Information System by BI Deputy Governor Erwin Rijanto and OJK Commissioner Board Riswinandi.

The transfer of regulatory functions, development and management of credit information systems has been through a period of transition since December 31, 2013, with the reporting of Debtor Information System (SID) managed by BI and the Financial Information Service System (SLIK) managed by OJK in parallel during April-December 2017 .

During the transition period, BI and OJK have performed excellent coordination, especially in the improvement of the provisions and management of SID as well as the preparation of the regulation and development of SLIK OJK. With the transfer of these functions, BI discontinues SID operations and services to all SID and Community Reporters since December 31, 2017.

Furthermore, the management of credit information systems is only implemented by OJK through SLIK which will be implemented in full from 1 January 2018.

SLIK is one of the most important infrastructures in the financial services sector that industry players can use to mitigate risks, particularly credit risk, so as to help reduce the level of non-performing loan risk. In addition, the existence of SLIK is also able to support the expansion of credit access / financing. Communities intending to obtain Individual Debtor Information (IDI) at SLIK can visit OJK offices both at the central and regional levels. Information on the addresses of OJK offices can be found at www.ojk.go.id.

The management of credit information by BI (Public Credit Registry) conducted since 1969 has helped people obtain accurate information and encourage more inclusive, cheaper, and easier access to finance. In addition, fund providers can channel funds by applying prudential principles. The steps taken both in terms of management, development and improvement of data coverage and product upgrading have contributed to the improvement of the World Bank-issued Ease of Doing Business Indonesia ranking, particularly on the aspects of Getting Credit.

The transfer of management function of Credit Information System to OJK will not reduce the service that has been done previously by BI. Customers and communities and owners of fixed funds will gain access to inclusive, cheap and easy funding information and take into account prudential principles, including supporting policies and decision-making of state and other government institutions.

News Comment

Today's Industry

Application-based transportation provider, Grab Indonesia (Foto Ist)

Jumat, 19 Oktober 2018 - 11:43 WIB

SoftBank Case, Lippo Bribes Question Grab Business amid Blood Money Swirl

Two major cases which have now charged Grab investors, namely SoftBank and Lippo Group, are expected to threaten the online transportion operator's business credibility.

Grab (Ist)

Kamis, 11 Oktober 2018 - 12:36 WIB

Women Activists Criticize GRAB Indonesia on Victims Harassment Mediation

A number of women activists express their anger and regret at the GRAB Indonesia. The Malaysian applicator response to bring together between a driver partner who is allegedly harassed his passengers…

Panen Padi (Foto Dok Industry.co.id)

Senin, 08 Oktober 2018 - 03:30 WIB

Banten Lebak Farmers Harvest 55,622 Tons of Dry Grain

Lebak-Petani in Lebak Regency, Banten, during September 2018 harvests rice in an area of ​​9,347 hectares of paddy fields with a production of 55,622 tons of dried pungut (GKP) grain.

Bawang Merah (Ist)

Senin, 08 Oktober 2018 - 03:00 WIB

Kelompok Tani Sengingi Riau Panen Bawang Merah

Kuantan Singing - Beken Jaya Benai Farmer Group in Kuantan Singingi Regency, Riau Province harvesting shallots up to tens of tons managed on a quarter hectare of land, the results can improve…

Senin, 08 Oktober 2018 - 02:30 WIB

PT Pertamina Lubricants Wins Two TOP CSR 2018 Awards

Jakarta - PT Pertamina Lubricants managed to bring home two awards at the TOP CSR 2018 TOP CSR category on Lubricants Business, namely for the Corporate Social Responsibility (CSR) Enduro Student…