I have confidence that financially savvy retail investors will be able to protect themselves from fraudulent practices and illegal investments
Jakarta (ANTARA) - The Financial Service Authority (OJK) affirmed it will maintain the confidence of retail investors in the Indonesian capital market that has increased by 96 percent (yoy) in the first half of 2021, driven by the influx of millennials and generation Z investors.

"This increase in investor numbers should be followed by a program to be implemented for maintaining investors' confidence in the Indonesian capital market," a member of OJK's Board of Commissioners for Education and Consumer Protection Tirta Segara noted at a webinar "Leading Indonesian Financial Literacy" here, Thursday.

Segara emphasized that financial literacy for the capital market improvement program will continue to be upheld.

Only five percent of Indonesia’s total population has an understanding of capital market products, far from the literacy level of other financial products that average 38 percent, he pointed out.

"I have confidence that financially savvy retail investors will be able to protect themselves from fraudulent practices and illegal investments," Segara stressed.

Moreover, he suggested that investors can opt for investment products that align with their needs and abilities by taking into account the risks, legality of products, and proper product offerings.

Furthermore, Segara noted that the OJK will expand access to the capital market for equitable distribution. During the COVID-19 pandemic, Segara deemed the availability of accessible, flexible, and affordable investment products as being crucial.

Amid increasing hybrid investments, the OJK will synergize with ministries, institutions, and industry players to prepare relevant regulations. Through this, each party will supervise and respond to consumer complaints in a proper and timely manner.

Through investment, the OJK will cooperate with other stakeholders to eradicate unlawful actions in fundraising and investment management.

"In providing education and consumer protection, the OJK cannot move alone. We require the support of all stakeholders, including Bank Indonesia, the Ministry of Finance, Deposit Insurance Corporation, the deposit service industry, and other stakeholders," he affirmed.

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Translator: Sanya S, Kenzu T
Editor: Sri Haryati
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