TheJakartaPost
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OJK office to monitor financial institutions
The Yogyakarta office of the Financial Services Authority (OJK) was officially launched on Monday in readiness to monitor the practices of banking and financial-services institutions in the province
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he Yogyakarta office of the Financial Services Authority(OJK) was officially launched on Monday in readiness to monitor the practicesof banking and financial-services institutions in the province.
Yogyakarta Governor Sri Sultan Hamengkubuwono X launched the OJK at Bank Indonesia's (BI) Yogyakarta branch. Witnessing the ceremony were Deputy Finance Minister Anny Ratnawati, OJK Yogyakarta chairman Dani Surya Sinaga and BI Yogyakarta head Arif Budi Santosa.
'OJK's presence here will hopefully assist the operations of financial and banking institutions in Yogyakarta,' Sultan said at the launch.
Sultan also expressed the hope that the OJK's presence in the province would minimize financial transactions that caused losses to the public, especially those due to customers' lack of knowledge about financial matters such as fraudulent investments.
Dani Surya Sinaga expressed the same hope, saying that many people did not yet fully understand matters related to investments, non-banking investment institutions or banking institutions.
