President Jokowi Urges Banks to be Courageous to Take Risks

By Office of Assistant to Deputy Cabinet Secretary for State Documents & Translation
Date 15 Maret 2018
Category: News
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President Jokowi gave instruction in a meeting with national banking industry leaders, at the State Palace, Jakarta, Thursday (15/3). (Photo: OJI / Public Relations)

President Jokowi gave instruction in a meeting with national banking industry leaders, at the State Palace, Jakarta, Thursday (15/3). (Photo: OJI / Public Relations)

President Joko “Jokowi” Widodo reminded chiefs of national banks about the importance of taking risks. According to the President, the biggest and most dangerous risk is not having the courage to take risks.

President Jokowi also mentioned the report from Chairman of Financial Services Authority (OJK) Wimboh Santoso saying that the growth of banking credit was 8.24 percent, while financial service industries have targeted the growth at 9-12 percent.

“If I am given a 9-12 percent rate growth, I would go for 12 percent. Again, the biggest risk is if we do not dare to take risks,” President Jokowi said in meeting with chiefs of commercial banks in Indonesia at the State Palace, Jakarta, Thursday (15/3).

President Jokowi also acknowledged that banking industry should be prudent and careful; yet the President warned that if we do not dare to take the risk, we will be finished in business and sooner or later we would be finished.

“That is how it plays in business. Banking is also a business, “ the President said.

Meanwhile, if we take the risk, there is still a chance and possibilities and usually those possibilities are probably good enough to make you survive if they are well calculated, President Jokowi added.

“Because making a decision means taking risk. It applies anywhere, be it in business as well as in politics. Playing safe is an illusion,” the President continued.

President Jokowi further said in today’s highly dynamic world and in the era of openness and globalization, where technology is developing very fast, nothing is safe because the world is constantly changing.

“People say ‘wait and see’, and we will keep waiting and seeing. Because world keeps changing constantly. Every day we face uncertainty in business world, financial world, banking world, as well as political world because global uncertainty is also happening every day, “said President Jokowi.

Also attending the meeting were Coordinating Minister for the Economy Darmin Nasution, Minister of Finance Sri Mulyani Indrawati, Minister of State Secretary Pratikno, Presidential Chief of Staff Moeldoko, Chairman of the Financial Service Authority (OJK) Wimboh Santoso, as well as representatives of banking industries in Indonesia. (FID/OJI/ES) (STU/EP/Naster)

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