Indonesia's Financial Services Authority (OJK) began construction of its Provincial Office for North Sumatra in Medan, marked by a groundbreaking ceremony led by Vice Chairman of the Board of Commissioners Mirza Adityaswara on 7 November 2025. The new premises are intended to support OJK’s regional regulatory, supervisory and consumer protection work and to bring public services closer to the community, following OJK’s expanded mandate under Law No. 4 of 2023 on Development and Strengthening of the Financial Sector (P2SK). The North Sumatra building will be OJK’s seventh purpose-built regional office, following offices in Solo, Yogyakarta, Surabaya, Palembang, Maluku and West Nusa Tenggara, and is designed around governance, sustainability and efficiency principles, including an energy-efficient “green building” concept aligned with the government’s Environmental, Social and Governance agenda. OJK also highlighted the scale of the local financial system: as of September 2025, North Sumatra hosted 107 banking entities, 196 non-bank financial industry entities and 96 capital market entities, with banking credit of IDR 312 trillion growing 13.6% year on year and non-performing loans at 1.89%.
OJK 2025-11-08
Indonesia's Financial Services Authority breaks ground on new North Sumatra provincial office in Medan
Indonesia's Financial Services Authority (OJK) began building its North Sumatra Provincial Office in Medan to boost regional regulatory functions, following its expanded mandate under Law No. 4 of 2023. The office, OJK's seventh regional facility, will feature sustainability and efficiency, including a "green building" concept. As of September 2025, North Sumatra's financial system includes 107 banking entities, 196 non-bank financial entities, and 96 capital market entities, with banking credit of IDR 312 trillion and a 13.6% year-on-year growth.