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    Lack of Understanding, Cause of Unsecured Regional Bonds

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    BANDUNG - West Java Province can begin to consider issuing regional bonds for easy and small-scale projects so that the risks can be measured. As stated by the Chief Executive of the Capital Market Supervisory Authority Financial Services Authority (OJK) Central Ir. Hoesen, in the National Seminar on Regional Bonds in West Java Province in 2019 with the theme "Financing Innovations for the Acceleration of Development in West Java", took place at Padjadjaran University (Unpad) Bandung, Saturday (21/12).

    "For the first step in the issuance of financing instruments, West Java can start with the issuance of municipal bonds for easy and small-scale projects so the risks can be measured," he said.

    Hoesen said, his party continues to strive to provide understanding related to regional bonds as an alternative financing given the need for infrastructure costs is up to six times higher when compared with the ability of the region to borrow.

    "Increasing understanding of debt is very important, this is related to the time of one's term of office, for example someone's position in three years, he will issue debt that is five years old. Because he has never been in debt so he is afraid of being responsible, afraid of being wrong," he said.

    According to Hoesen, concerns from the regions to issue regional bonds are a natural thing, but it would be nice if the regions could try directly by issuing them so that there would be many lessons that could be obtained by the regions.

    "We must try, people will not be able to learn unless they do. The thing was that BJB used to be managed before and how it is now after the IPO. And now West Java already has a role model, "he said.

    Meanwhile, Deputy Chairperson of the Regional Council of Regional Representatives (DPRD) of West Java Province, Soleh said, the West Java DPRD will support and be ready to help solve the development problems facing West Java.

    "In principle, West Java DPRD is ready to help solve development problems and as a function of supervisory prudence still needs to be done because there are still a number of obstacles that must be resolved," he said.

    By also expecting the role of academics to provide advice and input to the DPRD and the Regional Government of West Java in an effort to support development programs that can be supported through regional bond issuance.

    "The preparation stage is very important. The role of academics is also important to give advice, which development program can be supported through the issuance of regional bonds," said Dari, in a discussion initiated by the Management and Business Laboratory (LM), Faculty of Economics and Business Unpad.

    Development of the Indonesia Stock Exchange Hasan Fawzi considers that there is a concern from the DPRD and the Regional Government to issue regional bonds as a natural thing because the two agencies have a concern and really ensure the planning and return capacity so that in the future there will be no obstacles that have wide impact.

    "There is a rejection, it is normal. The process must be carried out and all stakeholders help not only at the time of its initial publication but also the ability of the Regional Government to ensure the return of interest or profit sharing as well as the principal," he added. (Parno)

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