A Bridge Too Far: The Strive to Establish a Financial Service Regulatory Authority (OJK) in Indonesia

A Bridge Too Far: The Strive to Establish a Financial Service Regulatory Authority (OJK) in Indonesia

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A Bridge Too Far: The Strive to Establish a Financial Service Regulatory Authority (OJK) in Indonesia

The Government of Indonesia (GOI) has been proposing a draft act on financial service regulatory authority, called Otoritas Jasa Keuangan (OJK hereafter). In the aftermath of 1998 Asian crisis, the establishment of the institution was mandated through Bank Indonesia Act (Indonesia’s central bank bill) in 1999, which was later updated in 2004.

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