BANGKOK - The Financial Services Authority (OJK) held a bilateral meeting with the Bank of Thailand (BoT) in Bangkok on Friday (7/19) in order to strengthen cooperation of financial services sector in both countries. The OJK delegation led by the Chairperson of the OJK Board of Commissioners Wimboh Santoso, was accompanied by the Chief Executive of Banking Supervision Heru Kristiyana and the Chief Executive of IKNB Riswinandi, along with the ranks. While the BoT delegation was led by BoT Governor Veerathai Santiprabhob and Deputy Governor Ronadol Numnonda, along with the ranks.
In the meeting, BoT expressed its commitment to enhance the role and contribution of Thai banks that already operational in Indonesia in supporting the financing of national economic growth. The Chairman of the OJK Board of Commissioners appreciates the presence of Thai business people and banks in Indonesia, and said that Indonesia is very open to the presence of ASEAN banking circles to do business in Indonesia. OJK also encourages Indonesian banks to activate their roles and presence in Thailand through acquisition or other strategic steps. Of course this commitment is aligned with the spirit of banking consolidation and also paying attention to the ASEAN Banking Integration Framework scheme.
The discussion at the meeting also included the development of information technology in the financial services sector, particularly related to mechanisms and ecosystems which included patterns of regulation and supervision in both countries. The last topic discussed covers the issue of sustainable finance. On this occasion, OJK conveyed developments, challenges and opportunities in the development of sustainable finance in Indonesia. Various regulations that have been issued were also submitted, including blended finance developments and environment-based projects. The BoT said that currently a Sustainable Banking Guidelines are being developed covering ESG (Environment, Social, and Governance)-based aspects.
BoT and OJK agreed to conduct discussions at the technical level to increase the role and presence of business people and Indonesian banking circles in Thailand and vice versa. The Chairman of the OJK stated the importance of conducting a business gathering that brings business people in both countries to share information about business opportunities in each country. (LM)