The cooperation strengthening agreement was made via a memorandum of understanding (MoU) signed by Head of the OJK's Board of Commissioners Mahendra Siregar and Head of the BPKP Muhammad Yusuf Ateh here on Monday.
Siregar said OJK and BKPK should strengthen cooperation to monitor the financial services industry, which is developing rapidly, and to welcome additional authority assigned to OJK in the Financial Sector Development and Strengthening Law.
Improvement of integrity, accountability, transparency, and the health of the financial services sector will reduce risk and determine the sustainability of national development, he added in a statement issued on Monday.
"Institutions and ministries should develop synergy and collaboration to determine the sustainability of the entire economic process and improve trust in the financial sector," Siregar said.
The MoU contains five areas of cooperation: insurance and consultation, human resources competency improvement, data or information utilization, law enforcement, and other cooperation fields.
Meanwhile, Ateh welcomed the ongoing collaboration between the BPKP and OJK to improve national development, specifically by helping ensure the financial services industry's compliance and accountability.
"Today, we signed another MoU as an extension of ongoing cooperation. I expect this opportunity can update the spirit of collaboration to become better than before, which is what the country really needs," he said.
The OJK currently has five BPKP employees who have been assigned to the Financial Service Sector Investigation Department (DPJK) Work Unit, which seeks to strengthen law enforcement and good governance in the financial services sector.
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Translator: Sanya Dinda S, Fadhli Ruhman
Editor: Rahmad Nasution
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