Investment Ministry and OJK Push to Integrate Financial Industry into OSS Licensing System
Jakarta, CNBC Indonesia - The Ministry of Investment and Downstreaming/Investment Coordinating Board (BKPM), together with the Financial Services Authority (OJK), is pushing for the financial industry, including banking and insurance, to be incorporated into the Online Single Submission (OSS) licensing system.
Deputy Minister of Investment and Downstreaming/BKPM Todotua Pasaribu explained that this move is aimed at expanding the consolidation of national investment realisation data. He noted that there are currently around 1,700 types of licences involving approximately 17 ministries and agencies. However, the financial sector has yet to be integrated into OSS.
Todotua himself met with the OJK Chairman roughly one to two weeks ago and explained the importance of this consolidation. He pointed out that data from the financial industry, both banking and non-banking sectors such as insurance, has never been included in investment realisation data.
"It has never been included in investment realisation data. And indeed the licensing processes there have not been either," he said during a Public Consultation on the Draft Regulation of the Minister of Investment and Downstreaming/Head of BKPM on Thursday (3 July 2025).
Todotua also highlighted cases where banks had encountered obstacles related to their Business Identification Number (NIB), serving as a concrete example of the importance of system integration.
"This actually underscores the need for consolidation into OSS. The response from the OJK Chairman was very positive, and hopefully our ministry will follow up on this," he added.
He expressed hope that within the next one to two weeks, the financial industry would be able to begin systematically joining OSS.
"We need consolidation, ladies and gentlemen, to see this matter with full clarity," he added.
Deputy Minister of Investment and Downstreaming/BKPM Todotua Pasaribu explained that this move is aimed at expanding the consolidation of national investment realisation data. He noted that there are currently around 1,700 types of licences involving approximately 17 ministries and agencies. However, the financial sector has yet to be integrated into OSS.
Todotua himself met with the OJK Chairman roughly one to two weeks ago and explained the importance of this consolidation. He pointed out that data from the financial industry, both banking and non-banking sectors such as insurance, has never been included in investment realisation data.
"It has never been included in investment realisation data. And indeed the licensing processes there have not been either," he said during a Public Consultation on the Draft Regulation of the Minister of Investment and Downstreaming/Head of BKPM on Thursday (3 July 2025).
Todotua also highlighted cases where banks had encountered obstacles related to their Business Identification Number (NIB), serving as a concrete example of the importance of system integration.
"This actually underscores the need for consolidation into OSS. The response from the OJK Chairman was very positive, and hopefully our ministry will follow up on this," he added.
He expressed hope that within the next one to two weeks, the financial industry would be able to begin systematically joining OSS.
"We need consolidation, ladies and gentlemen, to see this matter with full clarity," he added.