The OJK (Otoritas Jasa Keuangan) Regulation No. 7/2014 concerning the Examination of Guarantee Companies will soon be enforced. The Indonesian Guarantee Companies Association (Asippindo) has begun socializing this regulation to its members.
The President Director of Perum Jaminan Kredit Indonesia (Jamkrindo), Diding S. Anwar, stated that the socialization was conducted during the Asippindo National Working Meeting (Rakernas) in Lombok on May 12-13, 2014. "This Rakernas was held with the agenda of socializing the OJK Regulation," Diding told INDOPOS. Jamkrindo, as a state-owned enterprise (BUMN) in the guarantee sector, initiated the formation of Asippindo.
Jamkrindo is also the largest guarantee company in Indonesia. Besides Jamkrindo, Asippindo members include regional guarantee companies or Jamkrida. Diding S. Anwar was appointed as the General Chairperson of Asippindo. Diding explained that Asippindo supports the issuance of OJK Regulation No. 7/2014 concerning the Examination of Guarantee Companies.
This regulation was issued to strengthen the legal basis for examining guarantee companies. "Therefore, Asippindo members were provided with explanations about the regulation. We don't want the regulation to be enforced while guarantee companies are still unaware of it," he said.
The OJK Regulation, which consists of 12 articles, among other things, requires the board of directors of guarantee companies that refuse or hinder the examination process to undergo a fit and proper test. During the examination, guarantee companies are obligated to provide necessary materials such as documents, give required explanations, grant access to examiners to enter necessary places or rooms, and so on.
(Source: Indopos, Wednesday, May 14, 2014)