OJK Proposes Universal Banking in PFII to Boost Investment, Streamline 1-Stop Licensing
Updated
Updated · The Jakarta Post · Jul 17
OJK Proposes Universal Banking in PFII to Boost Investment, Streamline 1-Stop Licensing
1 articles · Updated · The Jakarta Post · Jul 17
Summary
July 8 testimony to parliament showed OJK wants universal banking inside the planned Indonesia International Financial Center, letting firms offer integrated services under a single framework.
The regulator says the model would combine commercial and investment banking—covering deposits, lending, payments, underwriting, asset management and advisory—to make licensing more efficient and attract foreign capital.
Dian Ediana Rae said the setup could spare companies from operating through separate entities across banking, insurance and capital markets while preserving prudential and risk-management standards.
Analysts say the proposal could sharpen Indonesia’s financial competitiveness, but many local banks are still not ready for a universal-banking model.
The plan leans on the revised P2SK law as legal groundwork even though the legislation does not explicitly mention universal banking.