scholarly journals THE WEAKNESSES OF ALTERNATIVE INSTITUTIONS FOR DISPUTE RESOLUTION IN FINANCIAL SERVICES SECTOR

2021 ◽  
Vol 5 (2) ◽  
pp. 200
Author(s):  
Theresia Anita Christiani ◽  
Chryssantus Kastowo
Keyword(s):  
System Theory ◽  
Dispute Resolution ◽  
Financial Services ◽  
Alternative Dispute Resolution ◽  
Secondary Data ◽  
Legal Culture ◽  
Primary Data ◽  
Services Sector ◽  
Financial Services Sector ◽  
Settlement Of Disputes

There are weaknesses in the Financial Services Authority issued POJK No. 61/POJK/2020 concerning Alternative Dispute Resolution in the financial services sector. It hampered the objectives of the regulation. A concept proposal is needed to overcome the existing weaknesses. This research uses normative juridical analysis.  This research dose on the laws and regulations that apply in Indonesia relating to the settlement of disputes in the financial services sector. This study finds a proposed concept to overcome the weaknesses of Alternative Dispute Resolution in the financial services sector. The proposed idea empowers legal culture, legal substance, and legal culture as legal system theory. This research is limited to study based on secondary data, so there is no primary data.

scholarly journals Upaya Penanganan Lembaga Alternatif Penyelesaian Sengketa Terhadap Otoritas Jasa Keuangan, Pitriya Nur Habibah dan Devi Siti Hamzah Marpaung

2021 ◽  
Vol 6 (1) ◽  
pp. 49-60
Author(s):  
Pitriya Nur Habibah ◽  
Devi Siti Hamzah
Keyword(s):  
Dispute Resolution ◽  
Financial Institutions ◽  
Financial Services ◽  
Alternative Dispute Resolution ◽  
Financial Service ◽  
Supervision System ◽  
Services Sector ◽  
Supervisory System ◽  
Financial Services Sector ◽  
Integrated Supervision

The Financial Services Authority (OJK) is an independent institution that is free from interference from other parties or institutions. This institution has the functions, duties, and authorities of regulation, supervision, examination, and investigation. OJK was established under Law No. 21 of 2011 with the function of implementing an integrated regulatory and supervisory system for the entire financial services sector. The establishment of OJK with the need to restructure the institutions that carry out regulatory and supervisory functions in the financial services sector. The supervisory system carried out by the OJK is an integrated supervision system, meaning that all financial service activities carried out by various financial institutions are subject to the OJK regulatory and supervisory system. Alternative Dispute Resolution Institutions (LAPS) in the Financial Services Sector number 1/POJK.07/2014 which regulates Alternative Dispute Resolution Institutions in the Financial Services Sector. Dispute resolution must be carried out at the LJK in the OJK Regulation concerning Consumer Protection in the Financial Services Sector, which stipulates that each LJK must have a work unit and/or function as well as a service mechanism and settlement of complaints for consumers. If the dispute resolution at the LJK does not reach an agreement, the consumer can settle the dispute out of court or through the court. Out of court dispute resolution is carried out through the Alternative Dispute Resolution Institution (LAPS). 

scholarly journals INTEGRATED ALTERNATIVE DISPUTE RESOLUTION INSTITUTIONS IN THE FINANCIAL SERVICES SECTOR: DISPUTE RESOLUTION EFFORTS IN CONSUMER PROTECTION FRAMEWORK

2021 ◽  
Vol 10 (1) ◽  
pp. 32
Author(s):  
Lastuti Abubakar ◽  
Tri Handayani
Keyword(s):  
Dispute Resolution ◽  
Consumer Protection ◽  
Financial Services ◽  
Alternative Dispute Resolution ◽  
Services Sector ◽  
Financial Services Sector ◽  
Legal Implications ◽  
Legal Perspective ◽  
Analytical Research ◽  
Financial Technology

<em>This study examines and analyzes the legal implications of strengthening the integrated Alternative Dispute Resolution Institutions in the Financial Services Sector regulations. This study applies a normative juridical approach with descriptive-analytical research specifications. The data are analyzed using qualitative juridical analysis. Results show that: an Integrated Alternative Dispute Resolution Institutions in the Financial Services Sector is a dispute resolution institution that is in accordance with the characteristics of the financial services sector as an agent of trust and prioritizes consumer protection. It is expected that consumer dispute resolution is faster, cheaper, and fairer for both Business Actors and the consumers; strengthening of regulations on integrated ADR Institutions in the Financial Services Sector aims to create independent, fair, effective, and efficient dispute resolution capable of anticipating developments in the financial services sector that are increasingly complex from a legal perspective, the use of financial technology, and products/services across financial services sectors</em>

scholarly journals ANALISIS PENYELESAIAN SENGKETA DALAM KEGIATAN USAHA JASA KEUANGAN PASAR MODAL DI INDONESIA

2021 ◽  
Author(s):  
Amanda Indah Pramesuri Suralaga ◽  
Revi Wulansari ◽  
Inna Windhatria
Keyword(s):  
Dispute Resolution ◽  
Capital Market ◽  
Financial Services ◽  
Secondary Data ◽  
Field Studies ◽  
Primary Data ◽  
Services Sector ◽  
Professional Institution ◽  
Investment Tool ◽  
The Capital Market

Capital Markets can also be interpreted as a professional institution that deals with securities buying and selling transactions, the capital market as a long-term investment tool that is currently becoming a trend in the community. But it cannot be denied that along with the development of the capital market in Indonesia it has caused problems or also disputes in the process of capital market activities in Indonesia. The problem in this research is how do the procedures and dispute resolution processes in business activities in the financial services sector after the procedures and processes in the settlement of Capital Market disputes, we must also know the legal consequences of the disputes in the financial services business of the Capital Market? The research method used a normative and empirical juridical approach, the data used are secondary data and primary data. Studies conducted with literature studies and field studies, data analysis used is qualitative juridical. The results show that the procedure and capital market dispute resolution process can be carried out either litigation or non-litigation, but the joint parties usually choose a non-litigation path in the procedure, if through non-litigation the parties must go through internal mediation first if the internal mediation fails involving the Financial Services Authority (OJK) as a facilitator in the process of resolving the problems after the process at the financial services authority did not get an agreement, the settlement could be continued through the Sengekta Alternative Settlement Agency (LAPS) and the Capital Market Arbitration Agency (BAPMI).

scholarly journals ANALISIS PENYELESAIAN KONTRAK ASURANSI MELALUI LEMBAGA OTORITAS JASA KEUANGAN

2017 ◽  
Vol 17 (2) ◽  
pp. 210
Author(s):  
B. Rini Heryanti ◽  
Dewi Tuti Muryati ◽  
Efi Yulistyowati
Keyword(s):  
Dispute Resolution ◽  
Financial Services ◽  
Dispute Settlement ◽  
Research Result ◽  
Insurance Contract ◽  
Primary Data ◽  
Services Sector ◽  
The Government ◽  
Set Up ◽  
Settlement Of Disputes

<p>Perkembangan penyelesaian sengketa asuransi melalui ADR, banyak diminati oleh para pihak yang bersengketa.karena dirasa lebih realistis, mudah, murah, dan cepat tanpa harus mengorbankan faktor kepastian. Penyelesaian sengketa kontrak asuransi melalui jalur non litigasi/ADR dapat diselesaikan melalui BMAI yang telah didirikan pada tahun 2006, di tahun 2011 pemerintah juga telah mendirikan OJK yang mempunyai tugas untuk melakukan pengawasan disektor jasa keuangan bank dan non bank, yang didalamnya salah satu tugasnya adalah melakukan penyelesaian sengketa asuransi. Perumusan masalah yang diteliti adalah, bagaimanakah kewenangan Otoritas Jasa Keuangan (OJK) dalam penyelesaian sengketa hukum kontrak asuransi?, bagaimanakah kedudukan BMAI kedepanya, setelah didirikannya OJK ? Metode yang digunakan dalam penelitian ini, metode pendekatan yuridis normatif, dengan spesifikasi deskriptif analitis, sedangkan teknik pengumpulan data menggunakan data primer dan data sekunder. Hasil penelitian pengaduan dan penyelesaian sengketa asuransi oleh OJK secara umum diatur dalam Pasal 29 Undang-Undang No.21 tahun 2011.Memperhatikan Pasal 29 tersebut mengamanatkan OJK untuk menyiapkan perangkat, menyusun mekanisme, dan memfasilitasi penyelesaian pengaduan konsumen yang dirugikan oleh pelaku di lembaga jasa keuangan, maka OJK mengeluarkan Peraturan OJK No.1/POJK. 07/2013 tentang Perlindungan Konsumen Sektor Jasa Keuangan dan Surat Edaran OJK No.2/SEOJK. 07/2014 tentang Pelayanan dan Penyelesaian Pengaduan Konsumen Pada Pelaku Usaha Jasa Keuangan, sedangkan kedudukan BMAI setelah adanya OJK berada dibawah OJK.</p><p>The development of the insurance dispute resolution through ADR, much in demand by the parties to bersengketa.felt to be more realistic, easier, cheaper, and faster without sacrificing the certainty factor. Dispute settlement insurance contract through the non litigation / ADR can be resolved through BMAI which had been established in 2006, in 2011 the government has also set up the FSA, which has the task to pass surveillance sector financial services of banks and non-banks, which includes one of his tasks is to insurance dispute resolution. The formulation of the problem under study is, how does the authority of the Financial Services Authority (FSA) in insurance contract law dispute resolution?, How BMAI position, after the establishment of the FSA ? The method used in this research, normative juridical approach, the analytical descriptive specification, while the data collection techniques using primary data and secondary. The research result of complaints and the settlement of disputes by the FSA insurance is generally provided for in article 29 of Law 21 years 2011. Article 29 mandates the FSA to set up the equipment, develop mechanisms and facilitate the resolution of consumer complaints were harmed by the offender in the financial services institution , the FSA issued a FSA Regulation 1 / POJK.07 / 2013 on Consumer Protection and Financial Services Sector FSA Circular No.2 / SEOJK.07 / 2014 on the Ministry and the Consumer Complaint Settlement In Financial Services business communities, while the position of BMAI, the FSA under the FSA.</p>

3 Alternative Dispute Resolution

2015 ◽  
Author(s):  
Willis Tony ◽  
Wood William
Keyword(s):  
Dispute Resolution ◽  
Financial Services ◽  
Alternative Dispute Resolution ◽  
Mediation Process ◽  
Services Sector ◽  
Financial Services Sector ◽  
Powerful Means ◽  
Practical Guidance ◽  
Definition Of

This chapter begins with a definition of mediation and its relationship to litigation and arbitration, along with some information about its use and recognition internationally. It then discusses the application of mediation to disputes in the financial services sector. It offers practical guidance on the mediation process followed by a discussion of other forms of non-adjudicative dispute resolution. The chapter concludes that mediation is an established, robust, and powerful means of resolving disputes that is especially suited to disputes in the financial services sector. PRIME experts are uniquely qualified to assist in several roles as experts, as advisors, as arbitrators and mediators.

scholarly journals Credit Dispute Resolution through Banking Mediation during Covid-19 Pandemic Situation

2021 ◽  
Vol 4 (2) ◽  
pp. 1618-1627
Author(s):  
Bondan Seno Aji ◽  
Made Warka ◽  
Evi Kongres
Keyword(s):  
Qualitative Research ◽  
Dispute Resolution ◽  
Financial Services ◽  
Alternative Dispute Resolution ◽  
Research Method ◽  
Financial Service ◽  
Bank Credit ◽  
Services Sector ◽  
Financial Services Sector ◽  
Service Institution

This study aims to find out credit dispute resolution through banking mediation in pandemic situation. This study use qualitative research method. The result shows that Settlement of bank credit problems that arose as a result of the Covid-19 pandemic, namely through deliberations between the bank (creditor) and the debtor. In POJK No.18 / POJK.07 / 2018 concerning Consumer Protection in the Financial Services Sector, it is stipulated that every financial service institution is required to have a work unit and / or function as well as a service and complaint resolution mechanism for consumers. If the dispute resolution at a financial service institution does not reach an agreement, consumers can resolve the dispute through the court or outside the court. Out of court dispute resolution is carried out through arbitration and alternative dispute resolution.

scholarly journals EFFECT OF MERGERS AND ACQUISITIONS STRATEGIES ON FINANCIAL PERFORMANCE OF FINANCIAL SERVICES SECTOR

2017 ◽  
Vol 1 (1) ◽  
pp. 18
Author(s):  
Dr. Agnes Ogada ◽  
Dr. George Achoki ◽  
Dr. Amos Njuguna
Keyword(s):  
Mergers And Acquisitions ◽  
Financial Performance ◽  
Significant Relationship ◽  
Financial Services ◽  
Panel Data Analysis ◽  
Descriptive Analysis ◽  
Secondary Data ◽  
Primary Data ◽  
Services Sector ◽  
Financial Services Sector

 Purpose: The purpose of this study was to establish the effect of mergers and acquisitions strategies on financial performance of firms in the financial services sector in Kenya.Methodology: The study adopted a mixed methodology research design. The study population included all the 51 merged financial service institutions in Kenya. Purposive sampling was used. Primary data was obtained from questionnaires and a secondary data collection template was also used. The researcher used quantitative techniques in analyzing the data. Descriptive analysis for the study included the use of means, frequencies and percentages.  Inferential statistics such as correlation analysis was also used. Panel data analysis was also applied. Further, a pre and post merger analysis was used.Results: Cost efficiency was found to have a positive and significant effect on financial performance of merged institutions. Diversification had no significant effect on financial performance of merged institutions. Synergy had a significant relationship with financial performance of merged institutions. Board size had a significant relationship with financial performance of merged institution and there was a significant relationship between the moderating effect of economic growth and financial performance of merged institutions.Unique Contribution to Theory, Practice and Policy: The study recommended that policy makers (government) should be able to create or promote the enabling environment for facilitating mergers and acquisitions that concerns infrastructure provision, as a way of achieving cost reduction that could motivate similar mergers in other institutions in Kenya, stakeholders are to identify where their most immense profit pools lie and focus on improving those units responsible for them, the management of the financial services institutions should embrace diversification and financial innovation on product strategies as this will help in generating more income for the banks.

scholarly journals Peran Otoritas Jasa Keuangan Dalam Perlindungan Konsumen Electronic Banking Pada PT. Bank Rakyat Indonesia (Persero) Tbk. Cabang Sigli

2019 ◽  
Vol 3 (3) ◽  
pp. 459-468
Author(s):  
Nazaruddin Nazaruddin
Keyword(s):  
Dispute Resolution ◽  
Empirical Research ◽  
Financial Services ◽  
Government Regulation ◽  
Services Sector ◽  
Financial Services Sector ◽  
Banking Service ◽  
Article 9 ◽  
The People ◽  
The Subject

Pasal 9 huruf c Undang-Undang Nomor 21 Tahun 2011 tentang Otoritas Jasa Keuangan (selanjutnya disebut UU OJK) menyatakan bahwa untuk melaksanakan tugas pengawasan OJK, mempunyai wewenang melakukan pengawasan, pemeriksaan, penyidikan, perlindungan konsumen, dan tindakan lain terhadap lembaga jasa keuangan, pelaku, dan/atau penunjang kegiatan jasa keuangan, sebagaimana dimaksud dalam peraturan perundang-undangan di sektor jasa keuangan. Pasal 28 huruf a UU OJK menyatakan bahwa untuk perlindungan konsumen dan masyarakat, OJK berwenang melakukan tindakan pencegahan kerugian konsumen dan masyarakat, salah satunya memberikan informasi dan edukasi kepada masyarakat atas karakteristik sektor jasa keuangan, layanan, dan produknya. Namun pada kenyataannya, pelaksanaan edukasi yang dilakukan oleh pihak perbankan tersebut tentu saja berada di bawah pengawasan OJK, sehingga secara tidak langsung OJK pun bertanggung jawab terhadap risiko penggunaan produk e-banking yang dapat merugikan konsumen. Jenis penelitian yang digunakan dalam penelitian ini adalah penelitian yuridis empiris yaitu jenis penelitian yang meneliti dan menelaah efektivitas suatu peraturan perundang-undangan. Hasil penelitian menujukkan Tanggung Jawab OJK terhadap konsumen yang mengalami kerugian akibat penggunaan layanan e-banking  adalah melakukan pendampingan bagi konsumen dan sebagai fasilitator dalam rangka melakukan gugatan ganti kerugian terhadap bank dengan jalan Eksternal Dispute Resolution, baik melalui litigasi maupun non litigasi.The Government Regulation No. 21 of 2011 Article 9 (c) regarding the Financial Services Authority (hereinafter referred to as UU OJK) states that in order to carry out the supervision other task to the financial services instituition the subject and/or the supporting financial services activities, as referred to the regulation about financial services activity. Article 28 (a) of UU OJK also states that in protection of consumers and people, OJK authorized to act in preventing costumer and people loss by providing information as well as education for the people regarding the characteristic of the financial services sector, the services and the products. In fact, however, the execution of the educating process done by the bank is under the supervision of OJK so OJK is indirectly responsible for the risk of e-banking products usage that harm consumers. This type of research used in this research is juridical empirical research that examines the types of research and study the effectiveness of laws. The result of the result indicated that the responsibility of OJK to the consumer who suffered losses by the e-banking service is by providing assistance and act as a facilitator in pursuing a lawsuit to get compensation from the bank by external dispute resolution, both by litigation and non-litigation.

Employees Outlook Regarding Quality and CRM Link for Enriched Competitive Strategy

2020 ◽  
Vol 9 (2) ◽  
pp. 27-47
Author(s):  
Neeta Baporikar
Keyword(s):  
Financial Services ◽  
Competitive Strategy ◽  
Banking Sector ◽  
Business Environment ◽  
Customer Relationship ◽  
Primary Data ◽  
Research Approach ◽  
Services Sector ◽  
Financial Services Sector ◽  
Management Processes

The business environment is dynamic and faces frequent changes driven by macro and micro factors. Due to these changes, businesses are forced to either evolve or exit. Those that evolve choose the path of advancement and are determined to sustain their competitive positions. The financial services sector is one sector that is particularly undergoing changes and banks particularly in this sector face changes from all front. All segments in which banks operate from payment transfers to home loans are under serious pressures due to FinTechs and technology. The banking sector in Namibia is no exception. Hence, adopting a qualitative research approach with content analysis, primary data gathered by questionnaires from Standard Bank employees, the study aims to investigate employees' outlook regarding quality and CRM nexus for enriched competitive strategy in an ever-changing and competitive environment. The findings reveal that quality and customer relationship management processes do influence customers' experiences, satisfaction levels, and loyalty.

scholarly journals Settling Inconsistencies Associated with The Genesis of The Financial Services Authority Act

2017 ◽  
Vol 2 (1) ◽  
pp. 36-41
Author(s):  
Theresia Anita Christiani ◽  
Maria Hutapea
Keyword(s):  
Financial Services ◽  
Secondary Data ◽  
Jel Classification ◽  
Financial Service ◽  
Financial Service Authority ◽  
Legal Principles ◽  
Services Sector ◽  
Financial Services Sector ◽  
Legal Principle ◽  
The One

Objective - The FSA Act the establishment of which is mandated by Article 34 of Law No. 23 of 1999 concerning the Bank of Indonesia, was enacted on 22 November 2011. This Act, together with Law No. 3 of 2004, regulates and supervises Indonesia's integrated financial services sector. This article reveals the existence of inconsistencies between the legal terms underlying the establishment of the FSA one the one hand, and the provisions contained in the Financial Service Authority itself, on the other. These inconsistencies also become evident in the light of the 1945 Constitution which facilitated the establishment of the Bank of Indonesia Law. The purpose of this article is to ascertain a method of resolving these inconsistencies associated with the genesis of the Financial Service Authority. Methodology/Technique - The research method used in this article is doctrinal in nature that uses secondary data and information sources as material to analyse the relevant problems. Findings - The research has revealed that the most appropriate method of settling these inconsistencies requires a consideration of the express wording of the FSA. Novelty - This article indicates the need to apply legal principles rather and adjudicatory methods. Type of Paper: Review Keywords: Settlement; Banking; Legal; Principle; Law. JEL Classification: J21, J28, K23.

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