Indonesia’s Financial Services Authority (OJK) published the outcomes of its 24 December 2025 monthly Board of Commissioners meeting, concluding that financial services stability remained intact heading into 2026 amid shifting global monetary conditions. The update also consolidates OJK’s recent supervisory and infrastructure initiatives, including a package of new rules spanning buy now pay later (BNPL), insurance, rural bank technology resilience, capital markets governance and reporting, alongside organisational changes to strengthen oversight of MSME finance, Islamic finance and digital banking. Market indicators highlighted a strong close to 2025, with the Jakarta Composite Index (IHSG) ending at 8,646.94 and up 22.13% year on year, and record monthly average daily equity turnover of IDR 27.19tn in December 2025. In banking, November 2025 credit grew 7.74% year on year to IDR 8,314.48tn and deposits grew 12.03% to IDR 9,899.07tn, while NPL gross stood at 2.21% and CAR at 26.05%; bank BNPL balances rose to IDR 26.20tn with NPL gross at 2.04%. Enforcement and consumer protection actions included capital markets, derivatives and carbon market fines of IDR 52.81bn on 52 parties in December 2025, the revocation of PT BPR Bumi Pendawa Raharja’s banking licence effective 15 December 2025, and requests to banks to block around 31,382 accounts linked to online gambling. In digital finance, OJK reported four regulatory sandbox participants that passed testing for tokenisation-based models, 30 registered financial sector technology innovation providers, and 29 licensed entities in the crypto-asset trading ecosystem; December 2025 crypto transactions were IDR 32.68tn and the consumer base reached 19.56 million. Several measures have defined implementation timelines, including a revised health assessment framework for insurers, guaranty institutions and pension funds taking effect on 1 January 2026 and a health insurance ecosystem rule applying three months after promulgation. OJK also noted that a dedicated Digital Banking Supervision Directorate will operate effectively in 2026, and that firms with the same business models as sandbox graduates can register with OJK without undergoing sandbox testing.
OJK 2026-01-09
Indonesia’s Financial Services Authority reports stable financial services sector and sets out new BNPL, health insurance and digital supervision measures
Indonesia's Financial Services Authority (OJK) confirmed financial stability as of 2026 and detailed new supervisory rules covering buy now pay later, insurance, and digital banking. Key market indicators showed strong performance, with the Jakarta Composite Index up 22.13% year on year, while enforcement actions included fines and banking licence revocations.