Tuesday, 18 Sya'ban 1440 / 23 April 2019

Tuesday, 18 Sya'ban 1440 / 23 April 2019

Indonesia to apply sustainable financial system in 2016

Senin 23 Nov 2015 16:34 WIB

Rep: C09/ Red: Julkifli Marbun

OJK

OJK

Foto: Wihdan Hidayat/Republika

REPUBLIKA.CO.ID, JAKARTA -- Financial Services Authority (OJK) with WWF Indonesia were preparing a sustainable financial regulation for banking in 2016. One of the preparations was implementation of a sustainable financial system pilot project in eight banks, namely Bank Mandiri, BRI, BCA, BNI, Bank Muamalat, BRI Syariah, BJB and Bank Artha Graha International.

On the other hand, OJK and WWF also developed a guidebook entitled 'Integration of Environmental, Social and Governance: A Guide to Starting Implementation of the Bank.'

"The active role of banks, OJK and WWF Indonesia is carried out in order to encourage the integration of environmental, social and governance management gradually," said CEO of WWF Indonesia, Efransjah, Monday (23/11).

The goal, he added, was practice of banks and other financial institutions in Indonesia can achieve the best performance standards. The bank's commitment in managing and implementing environmental, social and governance of banks will also contribute to taking on the role of raising profile of company's performance in Indonesia.

The pilot project will provide space for dialogue for banking practitioners by involving experts and businesses banking industry to exchange expertise and experiences. Especially related to information about the bank's success in helping address the ongoing issues faced by their clients.

Deputy Director of Indonesian Banking Architecture OJK, Edi Setijawan, added that OJK with WWF will assist the eight banks to systematically implement the sustainable financial system. This pilot project will run for 1.5 years starting in January 2016.

"The oil palm sector was selected for further study since this sector is often associated with environmental issues," he said.

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