Indonesia's OJK allowed to probe banking and financial cases

Indonesia's Financial Services Authority has the authority to investigate cases in the banking sector.

The authority debuted as the supervisory watchdog to the Indonesia Stock Exchange, “It is not only on emitters at the stock market but it is expanded further,” said Muliaman Hadad, the chairman of the organization known as the OJK.

“The investigation is expanded also into the banking sector and non-bank financial institutions.”

Muliaman said his institution was currently preparing the necessary infrastructure to allow them to conduct the investigations. He added that investigations of suspected violations submitted by the Capital Market and Financial Institutions Supervisory Agency (Bapepam-LK) would also continue.

He added that the OJK was different to Bank Indonesia since the latter did not have the authority to nvestigate cases in the financial industry.

To strengthen its functions, the OJK will build integrated investigative activities, not only on prominent cases, but also on cases in the banking sector and non-banking financial institutions.

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