Indonesia's Financial Services Authority (OJK) published the outcome of its Monthly Board of Commissioners Meeting held on 28 May 2025, concluding that the financial services sector remained stable and resilient amid global trade and geopolitical volatility. The statement combines market and prudential indicators with updates on enforcement, consumer protection and near-term regulatory work. In banking, credit grew 8.88 per cent year-on-year in April 2025 to IDR 7,960.94 trillion, with gross NPL at 2.24 per cent, Loan at Risk at 9.92 per cent and capital adequacy at 25.43 per cent, while the liquidity coverage ratio stood at 200.35 per cent. Based on data from the Ministry of Communication and Digital, OJK asked banks to block around 17,026 accounts linked to online gambling and to conduct follow-up actions including account closures based on national ID matching and enhanced due diligence. The domestic stock index rose 6.04 per cent month-to-date in May to 7,175.82 and non-residents recorded IDR 5.53 trillion of net buying month-to-date, while public offerings totalled IDR 65.56 trillion and the pipeline comprised 85 planned offerings with indicative value of IDR 74.94 trillion. In May, OJK fined one public accountant IDR 50 million and issued a written warning to one investment manager for breaches in the capital markets, derivatives and carbon exchange area. Insurance assets reached IDR 1,162.78 trillion in April 2025 and OJK reported that 110 of 144 insurers and reinsurers had met the 2026 phase-1 minimum equity requirement, with six insurers/reinsurers and nine pension funds under special supervision. P2P lending outstanding grew 29.01 per cent year-on-year to IDR 80.94 trillion, and financing-company BNPL rose 47.11 per cent year-on-year to IDR 8.24 trillion. In digital assets, 1,444 cryptoassets were listed as tradable, 23 entities had been licensed across the trading ecosystem and April crypto transactions increased to IDR 35.61 trillion with 14.16 million consumers. The Indonesia Anti-Scam Centre received 128,281 fraud reports since launching in November 2024, with reported losses of IDR 2.6 trillion and IDR 163 billion of victim funds blocked. OJK highlighted recently issued measures including rules to dematerialise equity securities and govern the handling of unclaimed capital market assets, reporting guidance for mutual fund selling agents and custodian banks, additional requirements for health insurance products, and compliance and internal audit function guidance for rural banks. Draft instruments in progress cover governance and risk management for financial sector technology innovation providers, fit-and-proper assessments of key persons, AML/CFT and counter-proliferation financing requirements, risk management guidance for guarantors, and monthly reporting for bullion business activities. Further supervisory work flagged in the update includes a pilot on-site project to review insurers’ implementation of PSAK 117 financial reporting, engagement with banks ahead of revisions to 2025-2027 bank business plans due at end-June 2025, and planned strengthening of oversight and guidance on dormant accounts, scams and banking IT and cyber incidents.

Original source View in tracker