Jakarta (ANTARA) - The Financial Services Authority (OJK) has pledged its full support to maintain national financial sector stability as the administration of President Prabowo Subianto and Vice President Gibran Rakabuming Raka marks two years in office.
OJK Board of Commissioners Chairperson Friderica Widyasari Dewi stated that the agency continues to coordinate with ministries and institutions under the Financial System Stability Committee (KSSK) to safeguard both the banking and capital markets.
"We continue to support the essence of how the financial sector can increasingly contribute to national development and also improve the welfare of society," Friderica said following a limited cabinet meeting at the Presidential Palace complex in Jakarta on Monday (October 19).
While acknowledging that global economic projections remain challenging worldwide, Friderica highlighted that Indonesia's domestic economic and corporate fundamentals remain solid.
Highlighting the corporate sector, she pointed to robust second-quarter reports showing that Indonesian issuers have driven continuous year-on-year growth in both revenues and net profits.
During the presidential briefing, Friderica conveyed that the OJK is pressing forward with capital market reforms to enhance transparency, liquidity and regulatory enforcement against coordinated trading violations.
"We said that we would continue capital market reform related to increasing transparency and liquidity, and the special message that was also most important was how we continue to enforce (strict) action against those who have committed violations related to coordinated trading," she said.
The OJK aims to establish a decisive deterrent effect to cultivate a safer, more transparent and highly liquid Indonesian stock exchange for both domestic and international investors.
The renewed regulatory push follows OJK’s recent landmark enforcement actions, which saw administrative fines totaling Rp2.1 trillion (approximately US$116.4 million) levied against three major issuers: PT Dian Swastika Sentosa Tbk (DSSA), PT Barito Renewables Energy Tbk (BREN) and PT Petrindo Jaya Kreasi Tbk (CUAN).
Investigations revealed indications of share trading manipulation involving DSSA, alongside procedural violations during the public offering processes of BREN and CUAN.
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Translator: Prisca Triferna Violleta, Yashinta Difa
Editor: Primayanti
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