medcom.id, Jakarta: House of Representatives finally passed Law on Financial system Crisis Prevention and Mitigation (PPKSK) in a plenary meeting on Thursday (3/17).
"We agree to pass PPKSK Draft Bill into PPKSK Law," said House Speaker Ade Komaruddin which was responded by resounding yes by all house members in the meeting, Jakarta, Thursday (3/17/2016).
Minister of Finance Bambang Brodjonegoro stated PPKSK draft bill has been in discussion for eight years. PPKSK Law will suceed Law on Financial System Safety Net (JPSK).
Bambang explained the law will be legal foundation for Financial System Stability Committee comprising of Ministry of Finance, Bank Indonesia (BI), Indonesian Financial Services Authority (OJK) and Indonesian Deposit Insurance Corporation to guard financial stability in Indonesia from either internal and external pressures.
"Financial system stability is a prerequisite for sustainable national economic development," he concluded.
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