Indonesia's Financial Services Authority has announced a new memorandum of understanding with the Business Competition Supervisory Commission to strengthen coordination and collaboration in carrying out their respective mandates. The agreement, signed on July 6 in Jakarta, updates the two authorities' earlier 2020 cooperation framework and is intended to support oversight as developments in the financial services sector become more dynamic. The new cooperation covers policy coordination and harmonization, joint studies and research, the provision, exchange and use of data and information, the use of speakers and experts, public outreach, and capacity and competency development for staff, as well as other cooperation within each authority's mandate. The memorandum takes effect for five years from July 6, 2026. In the release, both authorities linked the update to the closer interaction between competition issues and financial services, particularly as digital transformation expands access to financial services while creating new supervisory and coordination challenges. No further implementation timetable was set out beyond the five-year term of the memorandum.

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