OJK Outlines Financial Plans for 2024: Allocation and Regulatory Adjustments

In a recent meeting of the OJK Board of Commissioners (RDK OJK) on Monday (4/3/2024), Mirza Adityaswara, Vice Chairman of the OJK Board, provided insights into the financial strategy for the upcoming year. The discussion shed light on revenue allocation and regulatory adjustments in line with the strategic plan for OJK in 2024 and the priority programs outlined for the year.

According to Adityaswara, the revenue generated in 2023 will be entirely dedicated to meeting the operational, administrative, labor, and asset acquisition needs for the year 2024. This includes funding for operational expenses, administrative costs, workforce expenditures, as well as investments in building and IT infrastructure.

Looking ahead to 2024, the projected revenue from levies is estimated to reach Rp 8.38 trillion. The adjustment of OJK levy rates has been stipulated by Government Regulation No. 11/2014, in accordance with Article 37 of the Law on State-Owned Enterprises.

Adityaswara further elaborated on the ongoing discussions regarding regulatory provisions related to levies, work plans, and OJK's budget. These discussions include the final stages of drafting Government Regulation, which will be subject to approval by the government.

As mandated by law, OJK serves as the regulatory body for the financial services sector. Its responsibilities encompass overseeing, examining, licensing, law enforcement, education, consumer protection, and market conduct supervision within the financial services sector.

With a clear financial roadmap and regulatory framework in place, OJK aims to effectively fulfill its role in ensuring the stability and integrity of Indonesia's financial system while fostering growth and development within the sector.

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