Jakarta (ANTARA) - The Financial Services Authority (OJK) is preparing an OJK Regulation (POJK) to regulate financing companies, OJK's supervision executive of financing institutions, venture capital companies, microfinance institutions, and other financial service institutions, Agusman, said.
The POJK is a derivative of Law No. 4 of 2023 on the Development and Strengthening of the Financial Sector (P2SK).
"We are preparing POJK derived from the P2SK Law for financing companies and it has entered the stage of asking for inputs from the community," he informed at the launch of the Road Map for the Development and Strengthening of Financing Companies for 2024–2028 in Jakarta on Tuesday.
The OJK is preparing the regulation by hearing the inputs of the community and business actors.
Agusman said that the regulation draft can now be accessed by the public via the OJK's official website.
However, there is no official date yet on when the POJK will be enforced.
The Road Map for the Development and Strengthening of Financing Companies will serve as a reference in devising the POJK for the strengthening of financing companies in the future.
The road map will be supported by four pillars of development and strengthening, with the first pillar being strengthening resilience and competitiveness.
The second pillar will involve developing elements in the ecosystem; third, accelerating digital transformation; and fourth, strengthening regulation, supervision, and licensing.
The 2024–2028 road map will be implemented in three phases: Phase 1 (2023–2025), which will focus on foundation strengthening; Phase 2 (2026–2027), which will focus on consolidation and creating momentum; and Phase 3 (2028), which will focus on adjustment and growth.