INDEPENDENCE FUNCTION SETTING FINANCIAL SERVICES AUTHORITY
Shohib Muslim (a*), Hudriyah Mundzir (b), Ane Fany Novitasari (c)
(a) Senior Lecturer, General Course State Polytechnic of Malang
* email : shohibmuslim[at]polinema.ac.id
(b) Senior Lecturer, General Course State Polytechnic of Malang
(c) Lecturer, General Course State Polytechnic of Malang
Abstract
This study discusses the regulation of the independence of the functions of the Financial Services Authority. The purpose of this study is to describe and analyze why the functions of the OJK in the Regulation and Supervision of the Banking Credit Agreement have not protected the parties and how the OJK functions in the regulation and supervision of the Banking Credit Agreement to protect the parties. Based on the analysis carried out, it was concluded that the functions of the OJK in providing legal protection for the parties were not optimal because conflicts could occur within the legal norms of Law Number 21 Year 2011 concerning OJK between article 2 paragraph (2) regulating independence and article 7 regulating financial service activities In the banking sector, Article 34 regulates OJK budgets sourced from the State Budget and / or levies from parties conducting activities in the financial services sector and Article 37 regulates levies resulting in a conflict of interest between OJK and banks so that the questionable OJK independence can be lost.
Keywords: Financial Services Authority, Banking, Independence
Topic: Financial Management