Financial Services Authority (Indonesia)

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.

This article is about Financial Services Authority in Indonesia. For FSA in the United Kingdom, see Financial Services Authority (United Kingdom).

Financial Services Authority
Otoritas Jasa Keuangan
Logo of OJK in Indonesian
Agency overview
Formed2011 (2011)
Superseding agency
  • Badan Pengawas Pasar Modal dan Lembaga Keuangan (Bapepam-LK)
JurisdictionGovernment of Indonesia
HeadquartersJakarta, Indonesia
Agency executive
  • Mahendra Siregar, Chief of Commissioner Council (Ketua Dewan Komisioner)
Websitewww.ojk.go.id

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.

This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.