The Financial Services Authority (OJK) says that it will soon complete the reform of the regulation and supervision of the non-bank financial industry.
This reform drive aims to improve risk management, and governance as well as introduce a more comprehensive investment performance reporting system, according to local media reports.
“The reform has been going on since 2019 and we will accelerate it,” said OJK chairmanWimboh Santoso. He said that the reform would be accelerated over the next two years.
The OJK is supported by technical advisors from the World Bank in the endeavour, he said.