State consists of organizations that make the state function can be run dynamically to achieve the goal state. In Indonesia, the state organ consists of the Executive, Legislative and Judicial. This was stated by Chief Justice Hamdan Zoelva, as a resource person in the National Seminar "Strategic Policy Direction to Strengthen the Financial Services Authority, the Financial Services Sector in Indonesia" organized by the Institute of Financial Services Authority (OJK) in Sandeq Ballroom A, Grand Clarion Hotel, Makassar, Friday (22/11).

Hamdan said, after the 1945 Constitution changes, the existence of state institutions is not the separation of powers. "In the process, the organs of state will intersect called checks and balances, as well as the President has the authority to issue Interim Law which is basically a legislative authority,” he explained.

OJK institutions specifically, further Hamdan, a constitutional organ that emerged from the legislation, which was formed based on their needs. "This institution is needed because it must carry out specific functions that cannot be done by the legislative, executive, and judiciary," said Hamdan.

OJK is not governed by the Constitution, but it appears because the agency’s specific needs based on the politics of law by the Law established by the President and Parliament. "OJK under the Act has two functions, namely the functions of regulation and monitoring functions. Oversight function has been similar to the function of pre - judicia or early judicial function. Means that OJK has the authority incredible," said Hamdan.

With this oversight function, further Hamdan, OJK could also rule that a financial service was a foul or not subsequently revoke the business licenses of financial services. "Under the constitution, the establishment of independent institutions such as OJK is a policy choice by the constitution to the legislators, to financial services. Due to the institutional side,OJK authorized state organs constitutionally,” he said.

Earlier, Chairman of the Board of the Financial Services Authority Muliaman D Hadad explains the function and purpose of the establishment of the Financial Services Authority itself. Hadad said that OJK is an institution charged with the education and protection of the financial services industry. "OJK was born over dissatisfaction response of the economic situation," he explained.

As known, OJK is a state agency established under Law no. 21 in 2011, which serves to organize the regulatory and supervisory systems are integrated to the overall activity in the financial services sector. (Ddy)