Search
Close this search box.

We are creating some awesome events for you. Kindly bear with us.

Integrated system from OJK Indonesia to speed up licensing for listed banks’ Bonds and Sukuk Issuance

Integrated system from OJK Indonesia to speed up licensing for listed banks’ Bonds and Sukuk Issuance

Deputy Chairman of the OJK's Board of Commissioners Rahmat Waluyanto (Screenshot from video of launch on OJK's YouTube channel)

The Financial Services Authority of Indonesia or Otoritas Jasa Keuangan (OJK) launched the Integrated Licensing Information and Registration System (SPRINT) on June 20 for speeding up the licensing process for publicly listed banks' Bonds and Sukuk (Islamic Bonds) Issuance.

SPRINT integrates process run separately by the capital market and banking departments, reducing the time taken by a listed lender for completing the process to receive approvals for bonds and sukuk issuance, from 105 working days to merely 22.

SPRINT is the result of the OJK's concrete effort to develop an integrated, one-stop licensing mechanism for publicly listed banks that wish to issue bonds and sukuk. It has also been set up as a virtual single window for financial services companies, when they go through the licensing process taken place within the OJK.

SPRINT not only deals with the issue of differing policies issued by each department, but it also reduces duplication of application documents that applicants have to submit. The system is also equipped with a tracking feature that enhances the licensing process' transparency.Applicants can always monitor progress of their license applications or submitted registrations.

In addition to functioning as a transparency tool, the tracking feature was also designed to reduce interactions between Applicants and the Regulator, in order to lessen potential moral hazard on the part of both the applicants and the regulator, and to improve the quality of governance quality within the OJK.

Deputy Chairman of the OJK's Board of Commissioners Rahmat Waluyanto, in his opening remarks at the launch of the SPRINT for Bonds and Sukuk Issuance by Listed Banks said, “This measure has enabled the OJK to process applications in a much shorter time without abandoning consideration of prudential aspects over the submitted applications. We hope SPRINT will offer a TUNTAS (Transparent, TerpadU-Integrated, AccouNTable, Cepat-Fast, and Simple) licensing process.”

In 2016, the OJK launched the Bancassurance SPRINT for marketing licensing of insurance products, the SPRINT for licensing of mutual funds sales through banks as Mutual Fund Selling Agents (APERD) and the SPRINT for Registration of Public Accountants/Public Accounting Firms. They have been implemented in full since 2017.

Moving forward, the OJK will continue developing the SPRINT for other types of licensing, to provide better licensing services.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

As a Titanium Black Partner of Dell Technologies, CTC Global Singapore boasts unparalleled access to resources.

Established in 1972, we bring 52 years of experience to the table, solidifying our position as a leading IT solutions provider in Singapore. With over 300 qualified IT professionals, we are dedicated to delivering integrated solutions that empower your organization in key areas such as Automation & AI, Cyber Security, App Modernization & Data Analytics, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Renowned for our consulting expertise and delivering expert IT solutions, CTC Global Singapore has become the preferred IT outsourcing partner for businesses across Singapore.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and consulting services provider, helping clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,800 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently, and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity, and service. For more information, visit www.ibm.com