OJK Responds to DPR's Proposal to Establish Its Own Capital Market Rating
The Financial Services Authority responded positively to the DPR leadership's proposal for Indonesia to create its own capital market rating system to strengthen the fundamentals of the financial industry amidst turbulent global sentiment.
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The Financial Services Authority stated that it always welcomes any support and coordination that has been well established so far. This response was conveyed by the Chief Executive of Capital Market Supervision, Derivative Finance and the OJK Carbon Exchange, Hasan Fawzi.
The OJK assesses that various proposals have a positive tone that has the potential to strengthen the current condition of the Indonesian capital market. However, the supervisory agency stated that it still needed further coordination regarding the specific matters proposed.
The proposal to create its own rating was previously put forward by the Deputy Chairman of the DPR RI, Sufmi Dasco Ahmad. This idea emerged in response to the turmoil in the national capital market industry due to sentiment from Morgan Stanley Capital International.
MSCI previously proposed reducing the classification of the Indonesian capital market from the emerging market category to an independent market. Facing these challenges, market players are encouraged to unite to determine their own direction and rating in order to strengthen the stock exchange.