OJK Focuses on Strengthening Banks’ Capital and Digital Insurance

By Editorial Team 13/01/2023
Summary

The Financial Services Authority (OJK) simultaneously issued two Financial Services Authority Regulations (POJK): POJK No. 27/2022 on the Second Amendment to POJK No. 11/POJK.03/2016 concerning the Minimum Capital Adequacy of Commercial Banks (POJK No. 27/2022) and POJK No. 28/2022 on Insurance Brokerage Companies.

OJK Director of Public Relations Darmansyah said POJK No. 27/2022 was issued to make adjustments to the calculation of banking capital, which is more sensitive to risk, by strengthening risk management in line with international Basel III: Finalizing post-crisis reforms (Basel III reforms).

"The standard in question aims to reduce systemic risks that arise in financial markets so that banks are encouraged to conduct transactions through central counterparty institutions," Darmansyah said. Meanwhile, POJK No. 28/2022 is aimed at following the business practices of developing Insurance Brokerage Companies and using digital technology.

**POJK No. 27/2022 and No. 28/2022 can be downloaded at the end of this article

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