Indonesia’s Financial Services Authority (OJK) has introduced a new roadmap for the development and strengthening of financial sector technology innovation, digital financial assets, and crypto assets for the period of 2024-2028.
The roadmap, titled “Welcoming the Future of Digital Finance: Laying the Foundation for Effective and Balanced Supervision,” was unveiled during the OJK Digital Financial Innovation Day (OJK Digination) 2024 in Jakarta.
The event was led by Mahendra Siregar, Chairman of the OJK Board of Commissioners, alongside key officials from the OJK, including Hasan Fawzi, Chief Executive of the OJK IAKD Supervisory Board, and Agusman, Chief Executive of the Supervisory Board of Financing Institutions.
Focusing on four main pillars—Regulation and Development, Supervision and Law Enforcement, Licensing, and Information and Innovation—the roadmap outlines strategic objectives to foster a robust, inclusive, and sustainable IAKD sector.
The implementation of these objectives will be structured around nine strategic programmes, covering areas such as regulatory frameworks, digital innovation centers, standardisation, pilot projects, digital financial literacy, and strategic alliances among others.
OJK officials emphasised the importance of collaboration with government bodies, industry players, and the wider community to ensure the roadmap’s success.
Regular monitoring and evaluation will be conducted to track progress and make necessary adjustments.
The launch of this roadmap coincides with the first anniversary of the IAKD Supervisory Sector in Indonesia, which plays a pivotal role in supporting financial sector innovation and digital transformation efforts in the country.
“The presence of the new IAKD field at OJK can be transformed into a platform that provides great benefits to the Indonesian people,”
said Mahendra Siregar.
Hasan Fawzi added,
“We have formulated the implementation of these four pillars in nine strategic programmes and action plans that will be carried out in three interconnected phases over the period 2024-2028.”
The article first appeared on Fintech News Singapore
