Indonesia court rejects challenge to role of financial regulator

JAKARTA: Indonesia's constitutional court threw out a legal challenge to the role of the financial services authority (OJK) in supervising lenders, the court's chief said on Tuesday.

One of the plaintiffs, researcher Salamuddin Daeng, had said earlier this year that the central bank, not the OJK, should supervise the banking industry.

The constitutional court chief, Arief Hidayat, rejected the challenge on Tuesday, saying that "both macro and micro supervision that is currently done by the two institutions, the central bank and the OJK, is an open legal policy". - Reuters