Two Years of Prabowo-Gibran: OJK Ready to Support Financial Sector Stability

Jakarta (ANTARA) – Financial Services Authority (OJK) Chairman Friderica Widyasari Dewi said the authority was ready to support efforts to maintain financial-sector stability and contribute to development ahead of the second anniversary of President Prabowo Subianto and Vice-President Gibran Rakabuming’s administration.

Speaking after a limited meeting at the Presidential Palace complex in Jakarta on Monday, Friderica said there had been significant developments. The OJK and ministries and agencies that make up the Financial System Stability Committee (KSSK) would continue coordinating to maintain stability in both banking and capital markets.

“We continue to support the aim of ensuring that the financial sector contributes more to national development and improves public welfare,” Friderica said.

She said the outlook for global conditions posed considerable challenges, not only for Indonesia but also for countries around the world.

“According to the second-quarter report, revenues rose and listed companies’ profits also continued to increase compared with the previous year,” she said.

At Monday’s meeting, Friderica told President Prabowo Subianto that the OJK would continue capital-market reforms to improve transparency and ensure action was taken over alleged violations.

“We said we would continue capital-market reforms related to improving transparency and liquidity. A particularly important message was that we must continue enforcing the rules against those who have committed violations related to coordinated trading,” she said.

She said the aim was to create a deterrent effect, making Indonesia’s capital market more liquid and transparent and a better investment destination for both foreign and domestic investors.

Her remarks followed the OJK’s recent announcement that it had imposed sanctions and administrative fines totalling Rp2.1 trillion on three listed companies: PT Dian Swastatika Sentosa Tbk (DSSA), PT Barito Renewables Energy Tbk (BREN) and PT Petrindo Jaya Kreasi Tbk (CUAN).

The sanctions followed an examination into suspected violations in Indonesia’s capital market. The OJK found indications of share-trading manipulation involving DSSA, as well as violations in the public-offering processes of BREN and CUAN.