The Bill on the Financial Services Authority (“Bill”) was passed by the House of Representatives on 27 October 2011. The Bill establishes a new independent financial institution called the Financial Services Authority (Otoritas Jasa Keuangan/OJK), which will take over several authorities held by the Central Bank (Bank Indonesia) and the Capital Market and Financial Institution Supervisory Body (Bapepam-LK).
Bill on Financial Services Authority Was Passed
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