Ministry and OJK intensify cooperation in digital financial sector

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The two parties are strengthening their collaboration to manage illegal online loans. We will reassess the collaboration. In principle, the ministry supports the decision taken by the OJK

Jakarta (ANTARA) – The Ministry of Communication and Information Technology is collaborating with the Financial Services Authority (OJK) to strengthen cooperation in the management of electronic systems and operators of electronic systems in the financial sector.

Communications and Information Technology Minister Johnny G. Plate said the cooperation forged earlier would be strengthened with the new OJK Board of Commissioners as part of its service to the community.

“Both parties are strengthening their collaboration to deal with illegal online loans. We will reassess the collaboration. In principle, the ministry supports the decision taken by the OJK,” Plate noted in a press release here on Saturday.

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The Minister stressed that inter-ministerial and inter-institutional collaboration was essential to facilitate rapid and accurate decision-making as well as to support efforts to streamline services to the community.

In addition, Plate noted that the two parties had discussed the 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 President Mahendra Siregar also focused on data governance in national jurisdictions and cross-border data. He said the collaboration between the two parties is aimed at ensuring the smooth functioning of the system 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 care of law enforcement and build resilience against cyberattacks. While the collaboration has gone well, we need to meet regularly to align our vision,” Plate remarked.

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

“We forwarded questions related to the technical aspects and the needs and interests of governance from the financial point of view to be synchronized with the perspective of the Minister of Communication and Informatics,” he remarked.

Siregar expressed his optimism that the cooperation between the OJK and the Ministry of Communication and Informatics would be more synergistic in the future.

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

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