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    FSA Socializes Regional Bonds


    BANDUNG - Financial Services Authority (OJK) continues to encourage the issuance of Regional Bonds as an alternative in financing regional development considering the limited source of financing the development of infrastructure / productive infrastructure facilities in various regions.

    Sarwono, Head of Regional OJK 2 West Java, said that along with the momentum of the acceleration of economic growth that requires long-term funding support, the role of the capital market will be more important in the effort to facilitate the financing.

    According to him, for the acceleration of the issuance of Regional Bonds, FSA has issued three regulation packages on Regional Bond and / or Sukuk, namely OJK Regulation No. 61 and 62 of 2017 which simplifies the procedures, requirements and procedures for the issuance of Municipal Bond previously Bapepam and LK Regulations Number IX.C.12, IX.C.13 and IX.C.14 on the content and prospectus of the Municipal Bonds public offering.

    "In addition OJK also issued new regulations, namely POJK No. 63 of 2017 on Reports and Issuers Issuer Issuance Bond Region and / or Sukuk Region," he said in the FGD and dissemination of utilization of Municipal Bonds, located at Regional Office 2 West Java-OJK (KR2) .

    Focus Group Discussion (FGD) with resource persons of Facilitation and Assistance Team of Municipal Bond, Securities Company and Securities Rating Agency, followed by participants from West Java Provincial Government represented by Bureau of Economic and Investment Facilities of Regional Development Planning Agency (Bappeda) and Financial Management Board and Regional Assets (BPKAD), Regency and Municipal Governments in West Java, Association of Indonesian Securities Companies and IDX.

    According to Sarwono, things that are simplified in the new regulatory package are related to the mechanism of public bidding that can be simultaneously or gradually, the auditor of the Local Government Financial Report (LKPD) by BPK RI, the LKPD period from 9 months to 1 year, Legal Audit only for public offerings and activities / projects and not required the Comfort Letter and Feasibility Study.

    Sarwono said that the three POJKs also contain the flow of the mechanisms for issuance of Municipal Bonds, among others, five mechanisms to be carried out, namely preparation in the regions, consideration by the Minister of Home Affairs, proposal to the Minister of Finance, registration to OJK and OJK review to get an effective statement of Public Offering Municipal Bonds.

    In addition, in 2017 OJK together with the Ministry of Finance and Ministry of Home Affairs, as well as market participants form a Team for Facilitation and Maintenance of Municipal Bonds which is tasked to improve the capacity and readiness of local government.

    Assistance to local governments may be a preparatory process that includes technical matters such as the selection and preparation of activities or projects to be funded, preparation of budgeting mechanisms, preparation of local bond managing units, and preparation of compliance with registration requirements for issuing local bonds. (Jo)

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