"BI and OJK plan to sign the MoU next week," he said.
The MoU is an agreement between the two parties on the transfer of supervision authority and cooperation for the welfare of the country.
"OJK focuses on micro (economy) while BI focuses on macro (economy), but the details are yet to be finalised. Mr Agus Martowardojo and I have come to an agreement on a number of terms, which will be stated in the MoU," he said.
Hadad added that the signing of the MoU is necessary to distinguish the functions and responsibilities of BI and OJK for optimum performance.
According to Hadad, the MoU facilitates the sharing of information technology support and human resources.
"Technical issues have to be stated clearly in the MoU," he added.
He also stated that from January 1, 2014, OJK will be present in all cities in Indonesia.
"OJK`s presence in the country needs to be stated clearly in the MoU too because OJK may need to use BI's facilitates in several regions," he said.
The former BI Deputy Governor also stated that his office is keen to establish a healthier and resilient financial industry for the welfare of the citizens and to fight crises.
"The financial industry plays a significant role in the economic development of a nation. Therefore, it is important to increase people`s access to funds," he said.(*)
Editor: Heru Purwanto
Copyright © ANTARA 2013
