Purwakarta | The Chairman of the House of Representatives (DPR) of the Republic of Indonesia, Ade Komarudin, held a socialization event on the Guarantee Law at Menteng Food Zone, Purwakarta, on Friday, March 25, 2016.
This socialization was one of the agendas of the man commonly known as Akom during his recess in his electoral district.
The Draft Guarantee Law was an initiative of the Golkar Party Faction in the DPR. Through a DPR plenary session on December 17, 2015, the Draft Guarantee Law was passed into law, and subsequently, the President ratified the Guarantee Law on January 15, 2016, and it was enacted on January 19, 2016, under State Gazette Number 9 of 2016.
Akom explained that the Guarantee Law was created to strengthen the legal foundation for guarantee implementation and to balance the guarantee industry with other industries.
"So that healthy business competition occurs, which ultimately benefits the people," said Akom.
Furthermore, Akom stated that the Guarantee Law could also provide certainty to financing institutions in the event of financing risks.
For this reason, Akom urged the Financial Services Authority (OJK) to issue an OJK Regulation (POJK) as a derivative of the Guarantee Law. However, Akom advised that OJK should first consult with the DPR before issuing the POJK.
"OJK cannot issue POJK without first consulting with the DPR. As a reference, there are 28 further regulatory mandates within the POJK in the Guarantee Law," Akom explained.
Additionally, Akom mentioned that the implementation regulations of the Guarantee Law in the Financial Services Authority Regulation (POJK) must be established no later than one (1) year from the date the Guarantee Law was enacted.
"The Financial Services Authority (OJK) cannot interpret the mandate of the Guarantee Law freely but must adhere to what is mandated by the Guarantee Law," said Akom.
Present at the event were OJK Commissioner Prof. Dr. Ilya Avianti, Sarwono, and Dr. Ujang Komarudin, M.Si., as the moderator.
The participants included members of the Indonesian Young Entrepreneurs Association (HIPMI) of Purwakarta and hundreds of MSME entrepreneurs from Purwakarta Regency. (Source: metrotvnews.com)