Financial Services Authority (Indonesia)
Indonesian financial services authority / From Wikipedia, the free encyclopedia
Dear Wikiwand AI, let's keep it short by simply answering these key questions:
Can you list the top facts and stats about Financial Services Authority (Indonesia)?
Summarize this article for a 10 year old
Financial Services Authority (Indonesian: Otoritas Jasa Keuangan; OJK) is an Indonesian government agency which regulates and supervises the financial services sector. Its head office is in Jakarta.[2]
This article needs additional citations for verification. (May 2021) |
Otoritas Jasa Keuangan | |
Agency overview | |
---|---|
Formed | 2011 (2011) |
Superseding agency |
|
Jurisdiction | Government of Indonesia |
Headquarters | Jakarta, Indonesia |
Agency executive |
|
Website | www |
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.
After the passage of the Law on Financial Sector Development and Strengthening, Indonesian government eventually elevated the authority to the special status and integrated it to the law enforcement system in Indonesia.[3]