THE ROLE OF THE FINANCIAL SERVICES AUTHORITY IN FOSTERING SYNERGY AND INTERCONNECTION BETWEEN ISLAMIC BANKING AND ITS ECOSYSTEM

Abstract

This research aims to find out the role of the Financial Services Authority in encouraging synergy and interconnection of sharia banking with its ecosystem. OJK is a financial institution that has the authority to regulate and supervise other financial institutions, including sharia banks. OJK has an important task and role in developing the sharia banking ecosystem. The sharia financial industry in Indonesia is experiencing quite good development, the development of the sharia banking industry is influenced by various factors, namely internal factors such as Human Resources (HR), funding, good corporate governance, as well as external factors such as economic growth and national and sharia institutional infrastructure. international. One of the sharia institutional infrastructure at the national level that encourages the growth of sharia banks is the Financial Services Authority (OJK). This research method is a descriptive qualitative research method. The qualitative descriptive analysis in this research will provide an overview of the extent to which OJK plays a role in supporting the interconnection of sharia banking with its ecosystem. The results of this research are that OJK plays an important role in encouraging synergy and interconnection of sharia banking with its ecosystem through policies implemented in the 2020-2025 roadmap.