FINANCIAL AUTHORITY WARNED ON GREEK CRISIS IMPACT

Jakarta,  21 Ramadan 1436/8 July 2015 (MINA) – The Indonesian Financial Services Authority (OJK) warned the financial industry players to be wary of the impact of the Greek crisis because it cannot be predicted when it will ends.

“It’s a global impact, I am optimistic it only temporary, but it is necessary to anticipate how long the impact. So, we ask the financial industry to be aware of this effect,” said the Chairman of the OJK Commissioner Board, Muliaman D Hadad in Jakarta, Tuesday.

He said the standard procedure to anticipate this is still the same, namely keep the market closely and ask all of the financial industry seeks to mitigate what happened. Antaranews quoted by Mi’raj Islamic News Agency (MINA) as reporting.

In addition, he stressed the importance of managing risk well in these conditions.

Hadad said Indonesian banks would not get liquidity problems due to Greek crisis because the condition was caused by global expectation.

He hopes the government can boost economic growth in the second semester 2015 on state spending absorption.

Meanwhile, the President Director of Indonesia Stock Exchange (IDX) Tito Sulistio also concerned about the negative impact for investors psychologically due to Greek crisis.

“The condition of the capital markets which tends to be volatile by Greece. So far, China’s stock markets have fallen about 30 percent, for me it is more daunting,” said Tito.

He believed that the negative impact of Greece crisis only in short term. So far, the issuers are still relatively positive. (T/ R03/R03)

Mi’raj Islamic News Agency (MINA)