Indonesia's Financial Services Authority launches blueprint to integrate Islamic finance across sectors

Indonesia's Financial Services Authority (OJK) launched its Blueprint for the Development and Strengthening of Islamic Finance at the Indonesia Islamic Finance Summit in Makassar. The blueprint brings sectors that previously developed separate roadmaps into a common policy framework, carrying forward OJK's earlier priorities on institutional strength, product innovation and financial inclusion. Islamic finance assets reached IDR 3,307.73 trillion in September 2026, up 9.28% annually and representing 11.21% of national financial assets. The framework covers Islamic banking, capital markets and nonbank finance, alongside financial technology innovation and digital financial assets. Its three strategic priorities are strengthening industry health, competitiveness and innovation, developing a more inclusive and interconnected ecosystem, and harmonizing regulation, licensing and supervision across sectors. Supporting foundations include technology and cyber resilience, the role of parent company groups, talent readiness and connections with social finance. Product development priorities include waqf products, financing under salam and parallel istishna contracts, and bullion activities conducted according to Islamic principles. OJK and the Ministry of Religious Affairs also launched the Waqf City Synergy initiative to strengthen connections between commercial Islamic finance and social finance based on Islamic endowments. OJK recognized 20 Islamic banks that have already implemented Cash Waqf Linked Deposit products as part of the Waqf City ecosystem.