Jokowi Warns of Ponzi Schemes to Stupid Investments, Jokowi Asks OJK to Not Relax

JAKARTA, KOMPAS.com – President Joko Widodo (Jokowi) emphasizes the important role of the sector financial services in supporting efforts to restore the national economy.

With the Covid-19 pandemic still ongoing, the role of the financial services sector is still crucial to boost the performance of the national real sector.

“Without a good financial services sector, the national economy will not run well and sustainably,” said Jokowi at the Industry Annual Meeting Financial Services 2022, Thursday (20/1/2022).

Also read: Want to invest? First Know What a Ponzi Scheme is

In the midst of economic conditions that are still overshadowed by uncertainty, Jokowi asked the financial services sector not to focus solely on making profits.

If business actors do not get good support from the financial services sector, it is feared that harmful practices under the guise of capital will emerge.

“If the financial services sector only thinks about profit without moving the real sector, it will have the potential to create ponzi scheme, appearance stupid investment, investment fraud, and the like, the framework of a fraud model that is very detrimental to the community,” he said.

To prevent the emergence of these harmful practices, Jokowi asked the Financial Services Authority (OJK) toOJK) strengthen its oversight.

“In difficult times, supervision must not slack because weak supervision will open gaps, open up opportunities for various crimes that will ultimately harm the community,” he said.

If you look at OJK data, the realization of financing for the financial services sector, in this case the banking sector, recorded positive growth last year.

Chairman of the OJK Board of Commissioners, Wimboh Santoso, said that in 2021 banking credit grew 5.2 percent on an annual basis (year on year/yoy).

“With NPL (non-performing loan) which is under control at the level of 3 percent, and tends to decrease from last year, where last year was 3.06 percent,” he said.

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