Jakarta (21/12)-The establishment of Otoritas Jasa Keuangan (OJK)/Financial Service Authority will become a new era for Indonesia ‘s financial monitoring body. OJK will have a full responsibility in monitoring all financial institutions including Islamic financial institutions in which OJK and national shariah board or DSN-MUI will monitoring the Islamic financial institutions closely thru the shariah board in every Islamic financial institutions.
The chairman of DSN-MUI, KH Ma’ruf Amin said that the board is now in intensive communication with regulators such as security commission or Bapepam LK and the central Bank, which is Bank Indonesia (BI). This communication is needed for the coordination to elaborate coordination between OJK and DSN-MUI.
“In so far we have set up separate communication team to discuss about Islamic bonds with the minister of finance office, to discuss about Islamic banking with the central bank and to discuss about Islamic securities with the securities commission, Islamic capital market, and Islamic insurance. When the monitoring job is turn over to OJK we will coordinate with OJK, explained Ma’aruf Amin during the seminar of OJK in the minister of finance office, Tuesday (21/12).
Furthermore he said that the transformation process of monitoring the financial institutions should not be the hindrance for the development of Islamic finance system, he is expected that the people in charge in OJK would understand the Islamic finance transactions scheme to enable them to monitoring the Islamic finance institution in order to be in the right track.
“ DSN-MUI team will be ready if there is a requirement to assist OJK by being the person in charge in OJK to monitoring Islamic financial institutions,” exclaimed Ma’ruf Amin.(ul)
