Financial Serwice Authority Open 35 Offices

Ambon, Maluku (Antara) - The Financial Service Authority (OJK) will open 35 offices across the country after it receives the transfer of bank supervision authority from Bank Indonesia (BI/the central bank) on December 31, 2013. "The opening of the 35 offices across the country will mark the beginning of the OJK's role of supervising banks, issuing licenses and imposing sanctions on bank and non-banking financial institutions in the region," stated Ari Lajiji, head of Bank Supervision Group for the provinces of Maluku, North Maluku and West Papua, here on Thursday. He added that creating a financial system in the region was intended to attain sustainable and stable growth to support economic development and to protect consumer interests. The OJK will also provide advisory services to regional governments with regard to financial services of banks and non-banking financial institutions. The function of banks supervision will be effectively transferred from BI to the OJK by December 31. Thus, the OJK will be fully operational in carrying out its tasks of supervising and handling banks and non-banking financial institutions, Ari explained. (*)