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| Muliaman D. Hadad. |
Chairman of the
Financial Service Authorities (OJK) Muliaman D Haddad announced the
issuance of the Financial Service Authority Regulation (POJK) on the
protection of financial service consumers here on Tuesday.
"The aim of the POJK is to protect the interest of consumers of the financial service industry on one side and to support the growth of financial service industry and institutions on the other side," Muliaman said.
He said that the POJK No. 01/POJK.07/2013 signed on July 26, 2013 was the first regulation on financial service issued by the OJK.
Muliaman said that the POJK contained three main aspects, one of which was increasing transparency and disclosure of benefit, risks, and cost on products or on the services for Financial Service Business Players (PUJK).
"The second aspect is the responsibility of PUJK in carrying out assessment on the suitability of products or services with risks being faced by financial service consumers," he said.
The third aspect of the POJK is simpler procedures and easiness for consumers to file a complaint and dispute settlement on products or on PUJK services.
The OJK chairman said that regulations in the POJK used five main principles of reference in implementing supervision on the relations between PUJK and consumers.
"The aim of the POJK is to protect the interest of consumers of the financial service industry on one side and to support the growth of financial service industry and institutions on the other side," Muliaman said.
He said that the POJK No. 01/POJK.07/2013 signed on July 26, 2013 was the first regulation on financial service issued by the OJK.
Muliaman said that the POJK contained three main aspects, one of which was increasing transparency and disclosure of benefit, risks, and cost on products or on the services for Financial Service Business Players (PUJK).
"The second aspect is the responsibility of PUJK in carrying out assessment on the suitability of products or services with risks being faced by financial service consumers," he said.
The third aspect of the POJK is simpler procedures and easiness for consumers to file a complaint and dispute settlement on products or on PUJK services.
The OJK chairman said that regulations in the POJK used five main principles of reference in implementing supervision on the relations between PUJK and consumers.
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