The Indonesia Ministry of Finance said at a plenary session of the House of Representatives that amendments to the 2023 law on financial sector development and strengthening have been formally enacted. The ministry said the revised law is aimed at improving the competitiveness of the financial sector and strengthening governance and coordination across authorities, with key provisions reinforcing the institutional frameworks of the Deposit Insurance Corporation and the Financial Services Authority. The ministry highlighted additional measures in the law covering derivatives, insurance, commodities, crypto assets and online activity. These include margin transfer rules for derivatives markets aligned with international standards, a strengthened policy guarantee program for insurance companies, creation of an exchange for minerals and other strategic commodities, measures to strengthen the crypto-asset industry, establishment of a task force to prevent and address online lending and online gambling, and the formation of an Indonesia International Financial Center with financial, administrative and operational independence.

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