Financial Industry to Join Integrated Online Single Submission Licensing System
Jakarta (ANTARA) - Deputy Minister of Investment and Downstreaming/Deputy Head of the Investment Coordinating Board (BKPM) Todotua Pasaribu has announced that the financial industry will soon be incorporated into the integrated electronic business licensing system known as Online Single Submission (OSS).
Todotua noted that the OSS currently encompasses approximately 1,700 types of licences involving 17 ministries and institutions, whilst several other agencies have expressed interest in joining the system.
"Recently, several more institutions will hopefully join the OSS system in the near future. That includes the financial industry," Todotua said in Jakarta on Thursday.
He disclosed that several weeks ago he held a meeting with the Financial Services Authority (OJK) to consolidate regulations within the OSS framework.
Todotua explained that investment realisation data in the financial sector — including insurance, banking and non-banking — has not yet been entered into the system. He also identified issues within the banking sector related to Business Identification Numbers (NIB), making it all the more important for the financial industry to be integrated into the OSS.
"The response from the OJK Chairman has been very positive, and hopefully our ministry will follow up on this. We have already reached an agreement with the financial industry and OJK to bring the financial industry into our OSS," he said.
Todotua noted that the OSS currently encompasses approximately 1,700 types of licences involving 17 ministries and institutions, whilst several other agencies have expressed interest in joining the system.
"Recently, several more institutions will hopefully join the OSS system in the near future. That includes the financial industry," Todotua said in Jakarta on Thursday.
He disclosed that several weeks ago he held a meeting with the Financial Services Authority (OJK) to consolidate regulations within the OSS framework.
Todotua explained that investment realisation data in the financial sector — including insurance, banking and non-banking — has not yet been entered into the system. He also identified issues within the banking sector related to Business Identification Numbers (NIB), making it all the more important for the financial industry to be integrated into the OSS.
"The response from the OJK Chairman has been very positive, and hopefully our ministry will follow up on this. We have already reached an agreement with the financial industry and OJK to bring the financial industry into our OSS," he said.