He delivered the remarks during a webinar on “Strengthening National Resilience in the Financial Services Industry” on Monday.
Strengthening the industry’s resilience and the financial services sector will allow the financial services industry to play a more important role and make a higher contribution to supporting the development of a sustainable economy, he explained.
This will also drive the effort to achieve a more prosperous society, he added.
This year, OJK is said to have established a number of policy priorities that focus on three goals.
They comprise the strengthening of the financial services sector's resiliency, the creation of growth opportunities for the financial sector and national economy, as well as service improvement and capacity strengthening.
"However, in parallel, what is equally important to be done is figuring out how to handle various issues that troubled companies are facing and finding solutions," Siregar said.
If the effort to find solutions is not made, then issues related to trust in the industry and the entirety of the financial services system will be affected, he added.
Therefore, the development of existing situations and conditions needs to be monitored. These include the ones that currently exist at the level of companies, industries, sectors, and the national economy.
Non-economic aspects such as social and political factors as well as regional and global conditions also need to be observed.
The OJK's capability to observe, analyze, and monitor potential risks would be very beneficial in the effort to anticipate and mitigate risks that may affect the stability of the financial services industry, he said.
Related news: Need to bridge gap between sharia, conventional finance literacy: OJK
Related news: Digitalization of the financial services sector was inevitable
Related news: OJK commits to improving people's financial literacy: official
Translator: M Baqir I A, Fadhli Ruhman
Editor: Azis Kurmala
Copyright © ANTARA 2023
