Jakarta, (Antara) - As a member of the Group of Twenty (G-20) major economies, Indonesia is committed to implementing the Financial Sector Assessment Program (FSAP) this year, according to the Financial Service Authority (OJK).
The FSAP is aimed at assessing comprehensively the stability and development of the national financial sector every five years to maintain the stability of the financial system, OJK Deputy Commissioner for Strategic Management IA Etty Retno Wulandari noted in a press statement released on Monday.
"For the first time ever, Indonesia joined the FSAP during 2009-2010. This year, we will implement it for the second time," she pointed out.
For its part, the OJK, Bank Indonesia, the Finance Ministry, and the Deposit Insurance Institution (LPS) grouped in the Financial Sector Stability Coordination Forum have set up a FSAP national working team, Wulandari revealed.
The working team, coordinated by the OJK, has begun working since Monday (February 22) and will make preparations for the implementation of the FSAP, she noted.
"This program will be implemented well if it is supported by all relevant parties, including those engaged in the financial services industry. Hopefully, all relevant parties will support this program through more intensive communication and coordination, so as to build a perception of a complete and comprehensive Indonesian financial services sector," Wulandari said.
By implementing the program, various parties will hopefully gain a sound understanding of the Indonesian financial services sector, she affirmed.
"This program is expected to improve the perception of Indonesia's risks, shore up market confidence in the Indonesian financial services sector, which will eventually attract more investment inflows to Indonesia," Wulandari added.(*)
