SP 147/DKPU/OJK/VIII/2026
PRESS RELEASE
JULY 2026 BOARD OF COMMISSIONERS' MEETING
FINANCIAL SERVICES SECTOR REMAINS RESILIENT, SUPPORTING THE DEVELOPMENT AND STRENGTHENING OF THE FINANCIAL SECTOR
Jakarta, 4 August 2026. Indonesia Financial Services Authority (OJK) Board of Commissioners, at its Monthly Meeting held on 29 July 2026, assessed that Indonesia's Financial Services Sector (SJK) remained resilient amid heightened geopolitical uncertainty and inflationary pressures.
Geopolitical tensions in the Middle East intensified once again following the collapse of the ceasefire between the United States and Iran in early July 2026. The renewed escalation of the conflict led to another increase in global oil prices. In its July 2026 World Economic Outlook Update, the International Monetary Fund (IMF) revised its 2026 global growth forecast downward to 3.0 percent (April 2026 forecast: 3.1 percent) due to the prolonged conflict. Nevertheless, continued investment in artificial intelligence (AI) has emerged as an upside risk that helps offset the weaker global growth outlook.
Meanwhile, the United States introduced a new tariff policy covering 60 trading partners, replacing the temporary tariff measures that expired on 24 July 2026. Higher energy market pressures and the implementation of the new tariffs have kept global risk premiums elevated and may continue to contribute to commodity price volatility.
Global economic indicators showed divergent trends across countries. Manufacturing activity strengthened further in advanced economies, while manufacturing growth in emerging markets remained relatively subdued. In the United States, inflation moderated while economic activity remained relatively stable. In China, second-quarter data recorded the slowest economic growth since late 2022, reflecting weak private consumption and investment, with exports continuing to serve as the main driver of growth. Inflation in Europe and the United Kingdom also continued to trend downward.
Global financial markets recorded mixed performance amid the renewed escalation of the conflict in the Middle East. Non-resident capital outflows from global financial markets resumed, although their intensity showed signs of moderation.
Domestically, price pressures eased, with inflation declining to 2.88 percent year-on-year in July 2026. Manufacturing activity also returned to expansion territory, as reflected in the Manufacturing Purchasing Managers' Index (PMI), which rose to 50.2.
Against this backdrop, the stability of Indonesia's financial sector remained well maintained, supported by an appropriate mix of fiscal and monetary policies.
Capital Market, Financial Derivatives, and Carbon Exchange (PMDK)
The domestic equity market strengthened during July 2026. The Indonesia Composite Stock Price Index (JCI) closed at 6,236.13, increasing 10.51 percent month-on-month (mtm), although it remained 27.88 percent lower year-to-date (ytd). Overall, the resilience and liquidity of Indonesia's capital market remained well maintained.
Foreign selling pressure in the domestic equity market eased during July 2026, with foreign investors recording a net buy of IDR1.62 trillion (June 2026: net sell of IDR19.63 trillion). Market liquidity also improved, as reflected in the average bid-ask spread, which narrowed to 1.33 percent in line with the market recovery during July 2026 (June 2026: 1.75 percent). Meanwhile, the Average Daily Trading Value (ADTV) in the equity market amounted to IDR14.31 trillion in July 2026 (June 2026: IDR22.23 trillion).
In the bond market, the Indonesia Composite Bond Index (ICBI) closed at 430.46 at the end of July 2026, increasing 0.14 percent mtm, while remaining 2.35 percent lower ytd. During the same period, the average yield on Government Securities (SBN) increased by 6.15 basis points mtm or 102.37 basis points ytd, reflecting changes in global risk perceptions amid heightened uncertainty. Despite dynamic market conditions, foreign investor appetite for Government Securities remained positive, as indicated by a month-to-date net buy of IDR6.39 trillion as of 29 July 2026 (June 2026: net buy of IDR22.43 trillion). Meanwhile, the corporate bond market recorded a modest net sell of IDR0.26 trillionduring the reporting month (June 2026: net sell of IDR0.07 trillion).
In line with market developments, the investment management industry continued to demonstrate solid performance during the reporting period. As of 30 July 2026, total Assets Under Management (AUM) reached IDR1,025.12 trillion, representing an increase of 2.08 percent month-to-date, although remaining 1.69 percent lower year-to-date.
Meanwhile, the Net Asset Value (NAV) of mutual funds stood at IDR663.26 trillion, rising 1.59 percent month-to-date, while remaining 1.79 percent lower year-to-date. Mutual funds recorded net subscriptions of IDR3.43 trillion month-to-date (as of 30 July 2026), bringing year-to-date net subscriptions to IDR1.29 trillion.
Consistent with the ongoing market deepening initiatives undertaken by OJK, the Self-Regulatory Organizations (SROs), and market participants, as well as continued efforts to strengthen the digital ecosystem of Indonesia's capital market, the number of domestic capital market investors continued to grow. In July 2026 alone, the market recorded an addition of 1.10 million new investors on a month-on-month basis. As a result, the total number of capital market investors increased by 47.63 percent year-to-date, reaching 30.06 million.
Fundraising by domestic corporations in the capital market remained robust. As of the end of July 2026, total corporate fundraising reached IDR121.96 trillion, comprising seven Initial Public Offerings (IPOs), 12 Rights Issues, nine Public Offerings of Debt Securities and/or Sukuk, and 105 Shelf Registrations for Debt Securities and/or Sukuk. Meanwhile, the issuance pipeline consisted of 15 planned public offerings with an indicative value of IDR11.88 trillion.
Regarding fundraising through Securities Crowdfunding (SCF), during July 2026 (month-to-date), 17 new securities offerings and eight new issuers were recorded, raising a total of IDR25.79 billion. As a result, cumulative funds raised through the SCF platform reached IDR2.01 trillion.
In the financial derivatives market, from 10 January 2025 to 31 July 2026, a total of 113 entities had received OJK's principal approval. Trading volume reached 63,171 lots during July 2026, bringing cumulative trading volume for January–July 2026 to 297,853 lots.
Meanwhile, in the Carbon Exchange, from its launch on 26 September 2023 until 31 July 2026, a total of 155 registered users had joined the platform. Cumulative trading volume reached 1.98 million tCO2e, with a total transaction value of IDR93.89 billion.
To uphold market integrity and strengthen investor protection in the Capital Market, Financial Derivatives, and Carbon Exchange (PMDK) sector, OJK continued to enforce compliance with prevailing regulations. As of 31 July 2026, OJK had imposed administrative sanctions following investigations of PMDK cases, including monetary penalties totaling IDR91.09 billion imposed on 104 parties, two license revocations, one revocation of a Registered Certificate (STTD), six license suspensions, nine written warnings, and eight written orders.
In addition, as of 31 July 2026, OJK had imposed late-reporting penalties totaling IDR196.55 billion on 506 parties, along with 168 written warnings. OJK also imposed administrative fines totaling IDR200 million and 149 written warnings for non-case violations unrelated to reporting delays. During July 2026, OJK imposed administrative fines totaling IDR4.83 billion for violations of laws and regulations in the PMDK sector.
Banking Sector Developments
Banking intermediation continued to strengthen while maintaining a sound risk profile. As of June 2026, bank lending accelerated to 12.67 percent year-on-year, reaching IDR9,081 trillion (May 2026: 11.51 percent year-on-year).
By loan purpose, investment loans recorded the strongest growth at 24.90 percent, followed by working capital loans at 8.94 percent, while consumer loans grew by 5.75 percent. By borrower category, corporate lending posted the highest growth at 20.45 percent year-on-year, while MSME lending continued its gradual recovery, growing 1.05 percent year-on-year (May 2026: 0.60 percent). By bank ownership, lending by state-owned banks recorded the highest growth, at 16.54 percent year-on-year.
The share of Buy Now Pay Later (BNPL) loans in the banking sector remained limited at 0.34 percent of total bank lending. As of June 2026, outstanding BNPL loans reported through the Financial Information Service System (SLIK) increased by 33.54 percent year-on-year (May 2026: 37.72 percent), reaching IDR30.7 trillion, with 32.77 million accounts (May 2026: 32.54 million accounts).
Meanwhile, Third-Party Funds (DPK) grew by 10.21 percent year-on-year (May 2026: 13.47 percent), reaching IDR10,282 trillion. Demand deposits, time deposits, and savings deposits increased by 9.95 percent, 8.25 percent, and 12.16 percent, respectively.
As credit growth continued to outpace deposit growth, banking sector liquidity ratios declined in June 2026, although they remained well above regulatory thresholds. The Liquid Assets to Non-Core Deposits (AL/NCD) ratio stood at 101.92 percent (May 2026: 108.20 percent), while the Liquid Assets to Third-Party Funds (AL/DPK) ratio stood at 23.08 percent (May 2026: 24.74 percent), both significantly exceeding the respective minimum thresholds of 50 percent and ten percent. The Liquidity Coverage Ratio (LCR) remained strong at 182.75 percent.
Asset quality continued to improve, with the gross Non-Performing Loan (NPL) ratio declining to 2.09 percent (May 2026: 2.17 percent) and the net NPL ratio remaining low at 0.82 percent (May 2026: 0.84 percent). The Loan at Risk (LaR) ratio also improved to 8.47 percent (May 2026: 8.72 percent).
Overall banking sector profitability remained solid, with the Return on Assets (ROA) standing at 2.47 percent (May 2026: 2.45 percent).
The banking sector maintained a strong capital position, supported by adequate buffers to mitigate risks, as reflected in a Capital Adequacy Ratio (CAR) of 23.70 percent (May 2026: 23.74 percent).
As part of efforts to combat online gambling, which poses significant risks to the economy and the financial sector, OJK has instructed banks to conduct Enhanced Due Diligence (EDD) and/or block approximately 36,735 accounts (previously approximately 36,191 accounts) identified by the Ministry of Communication and Digital Affairs as being linked to online gambling activities. OJK has further instructed banks to expand these measures by closing accounts associated with the same National Identity Number (NIK) as individuals identified in the Ministry's reports and to apply Enhanced Due Diligence procedures accordingly.
In enforcing banking regulations, OJK revoked the business licenses of PT Bank Perekonomian Rakyat Mataram Mitra Manunggal, headquartered in Yogyakarta Special Region, effective 7 July 2026, and PT Bank Perekonomian Rakyat Syariah Hasanah Mandiri, headquartered in Depok, West Java, effective 16 July 2026.
Insurance, Guarantee, and Pension Fund Sector Developments (PPDP)
In the Insurance, Guarantee, and Pension Fund (PPDP) sector, total insurance industry assets reached IDR1,184.72 trillion in June 2026, representing an increase of 1.86 percent year-on-year. Commercial insurance assets amounted to IDR967.75 trillion, up 2.97 percent year-on-year.
The commercial insurance industry recorded cumulative premium income of IDR170.98 trillion as of June 2026, growing 2.84 percent year-on-year. This consisted of life insurance premiums amounting to IDR94.83 trillion, up 8.40 percent year-on-year, while general insurance and reinsurance premiums declined 3.33 percent year-on-year to IDR76.15 trillion.
The life insurance industry and the general insurance and reinsurance industry maintained strong capital positions, with aggregate Risk-Based Capital (RBC) ratios of 461.94 percent and 318.52 percent, respectively, well above the regulatory minimum requirement of 120 percent.
For the non-commercial insurance sector, comprising Social Security Agency for Health (BPJS Kesehatan), Social Security Agency for Employment (BPJS Ketenagakerjaan), as well as insurance programs for civil servants, members of the Indonesia National Armed Forces (TNI), and the Indonesia National Police (POLRI) covering employment injury and death benefits, total assets stood at IDR216.97 trillion, representing a 2.80 percent year-on-year contraction (May 2026: 2.07 percent contraction).
In the pension fund industry, total pension fund assets reached IDR1,680.57 trillion as of June 2026, increasing 6.47 percent year-on-year (May 2026: 7.71 percent). Assets under voluntary pension programs grew 4.06 percent year-on-year to IDR407.33 trillion (May 2026: 4.94 percent).
Meanwhile, assets under mandatory pension programs, comprising the Old-Age Security and Pension Security programs managed by BPJS Ketenagakerjaan, as well as retirement savings and accumulated pension contributions for civil servants, members of the TNI, and POLRI, reached IDR1,273.24 trillion, growing 7.26 percent year-on-year (May 2026: 8.63 percent).
In the guarantee industry, total assets declined 3.05 percent year-on-year to IDR45.83 trillion as of June 2026 (May 2026: 2.95 percent contraction).
OJK continues to encourage financial institutions in the PPDP sector to strengthen their capital position.
1.In relation to the first phase of the 2026 minimum equity requirement for insurance and reinsurance companies under OJK Regulation (POJK) No. 23 of 2023, monthly reports as of June 2026 show that 120 out of 144 insurance and reinsurance companies (83.33 percent) have already met the minimum equity requirement applicable at the end of 2026.
- respect to the first phase of the 2026 minimum equity requirement for guarantee companies under POJK No. 11 of 2025, monthly reports as of June 2026 indicate that 18 out of 24 guarantee companies (79.17 percent) have met the required minimum equity level applicable at the end of 2026.
To strengthen regulatory compliance and consumer protection in the PPDP sector, OJK has undertaken the following measures:
1.OJK continues to facilitate the resolution of issues affecting financial institutions through its Special Supervision framework. As of 27 July 2026, Special Supervision was being conducted on eight insurance and reinsurance companies and eight pension funds. OJK carries out this supervision in accordance with prevailing laws and regulations while safeguarding the interests of policyholders and pension fund participants.
- continues to investigate entities suspected of conducting insurance and reinsurance brokerage activities without the required business license, based on information received from insurance companies (Source of Business/SOB). From January to July 2026, OJK conducted further investigations into 15 entities, including the collection and strengthening of evidence. As OJK continues to receive additional reports from insurance companies, the scope of these investigations may be expanded accordingly.
- the first half of 2026, OJK revoked three Insurance Agent Registration Certificates (STTD) in connection with alleged criminal offenses involving the conduct of insurance business activities without an OJK license. Under POJK No. 23 of 2023, an Insurance Agent Registration Certificate may be revoked if an agent violates the code of ethics, commits misconduct in the financial services sector, breaches applicable financial sector regulations, no longer satisfies the qualifications required of an insurance agent, fails to complete continuing professional education, or voluntarily resigns. Such revocations may be based on recommendations from the relevant industry association or OJK's own assessment.
Financing Companies, Venture Capital Companies, Microfinance Institutions, and Other Financial Services Institutions (PVML)
In the PVML sector, financing receivables of finance companies grew 1.88 percent year-on-year in June 2026 (May 2026: 1.71 percent), reaching IDR511.26 trillion, supported by stronger working capital financing, which increased 6.36 percent year-on-year.
The risk profile of finance companies remained sound. The gross Non-Performing Financing (NPF) ratio stood at 3.01 percent (May 2026: 3.06 percent), while the net NPF ratio improved to 0.81 percent (May 2026: 0.85 percent). The industry's gearing ratio remained stable at 2.14 times, well below the regulatory maximum of ten times.
According to data reported through the Financial Information Service System (SLIK), Buy Now Pay Later (BNPL) financing provided by finance companies grew 57.02 percent year-on-year (May 2026: 53.78 percent) to IDR13.40 trillion, while the gross NPF ratio improved to 3.09 percent (May 2026: 3.44 percent).
Venture capital financing contracted 0.48 percent year-on-year in June 2026 (May 2026: 0.09 percent growth), with outstanding financing totaling IDR16.28 trillion.
In the online lending industry (Pindar), outstanding financing increased 25.88 percent year-on-year in June 2026 (May 2026: 25.60 percent), reaching IDR105.14 trillion. The aggregate 90-day default rate (TWP90) improved to 4.26 percent (May 2026: 4.42 percent).
In the pawnshop industry, financing outstanding grew 54.47 percent year-on-year in June 2026 (May 2026: 57.97 percent) to IDR162.26 trillion. The largest share of financing was provided through traditional pawn products, amounting to IDR136.88 trillion, representing 84.36 percent of total financing.
To strengthen regulatory compliance and consumer protection in the PVML sector, OJK has undertaken the following measures:
1.Currently, eight out of 144 finance companies have yet to meet the minimum core capital requirement of IDR100 billion, while seven out of 94 online lending operators (Pindar) have not yet met the minimum equity requirement of IDR12.5 billion. All these institutions have submitted action plans to OJK outlining measures to meet the minimum capital requirements, including additional capital injections from existing shareholders, the search for strategic investors, and/or merger initiatives.
- uphold compliance and integrity within the PVML sector, during July 2026, OJK imposed administrative sanctions on 21 finance companies, eight venture capital companies, 39 online lending operators, 11 pawnshop companies, two microfinance institutions, and two special financial institutions for violations of applicable OJK regulations and/or findings arising from supervisory activities and follow-up examinations. These sanctions comprised 44 monetary penalties and 132 written warnings. OJK expects these enforcement actions to encourage industry participants to strengthen corporate governance, enhance prudent business practices, and improve compliance with applicable regulations, thereby supporting stronger performance and greater contributions to the financial sector.
- continues to support law enforcement efforts and the resolution of lender funds related to PT Dana Syariah Indonesia (PT DSI) through a special examination. Among other outcomes, the examination has successfully identified several assets suspected of having been acquired using lender funds. The findings were submitted to the Criminal Investigation Department of the Indonesian National Police (Bareskrim Polri) between February and May 2026 as part of OJK's support for the ongoing legal process and the resolution of lender funds in accordance with applicable laws and procedures.
Financial Sector Technology Innovation (ITSK), Digital Financial Assets, and Crypto Assets (IAKD) Developments
Regulatory Sandbox
a.Since the issuance of OJK Regulation (POJK) No. 3 of 2024 on Financial Sector Technology Innovation (ITSK), OJK has received 343 consultation requests from prospective sandbox participants as of 31 July 2026.
b. OJK has received 35 applications to participate in the regulatory sandbox. Currently, two participants are undergoing the testing process, comprising one Digital Financial Assets and Crypto Assets (DFA-CA) operator and one market support provider. Previously, six participants successfully completed the testing phase and were declared to have "Pass" from the sandbox. Their business models include gold tokenization, security tokenization under an Investment Management Contract (KPD) scheme, property ownership benefit tokenization, Rupiah stablecoin issuance, and custody services for non-trading digital financial assets. In July 2026, PT Dana Kripto Indonesia (PT DKI) became the latest participant to pass from the sandbox, receiving its pass status on 17 July 2026 with a Crypto Fund Manager business model.
c. Pursuant to POJK No. 3 of 2024, ITSK operators adopting business models that are substantially similar to those of the seven sandbox are eligible to apply directly for registration with OJK without undergoing the sandbox testing process.
d. OJK is currently evaluating five additional sandbox applications, comprising two Digital Financial Assets and Crypto Assets (DFA-CA) business models and three market support business models.
e. OJK's regulatory sandbox adopts collaboration as a core principle for fostering innovation. Several business models that have successfully completed the sandbox process demonstrate strong operational integration with financial institutions. For example, the gold tokenization business model collaborates with Pegadaian for the safekeeping of the physical gold underlying the tokens, while the security tokenization business model involves investment managers and custodian banks within the capital market ecosystem.
Licensing of ITSK Operators
a. As of July 2026, there were 24 licensed and registered ITSK operators, comprising eight Alternative Credit Rating Providers (PKA) and 16 Financial Services Aggregators (PAJK).
b. As of July 2026, 35 ITSK licensing applications were under OJK's review, consisting of 11 Alternative Credit Rating Providers (eight registered providers and three new applicants) and 24 Financial Services Aggregators (15 registered providers and nine new applicants).
Industry Developments
During June 2026, registered ITSK operators established 1,347 partnerships with financial institutions across various sectors, including banking, finance companies, insurance, securities companies, online lending platforms, microfinance institutions, and pawnshops, as well as with information technology service providers and data providers.
During the same period, Financial Services Aggregators (PAJK) facilitated approved transactions totaling IDR2.62 trillion, while serving 18.80 million users across Indonesia. In addition, Alternative Credit Rating Providers (PKA)processed 24.46 million credit score inquiries (hits) during June 2026.
These developments demonstrate that ITSK services, both PAJK and PKA, have made a significant contribution to improving the accessibility, financial inclusion, and quality of financial products and services.
Digital Financial Assets and Crypto Assets
Regarding the development of Digital Financial Assets, including Crypto Assets (DFA-CA), Indonesia currently has two licensed crypto exchanges: PT Central Finansial X (CFX) and PT Fortuna Integritas Mandiri (ICEX), each maintaining its own Digital Financial Assets List (DAKD).
As of June 2026, the CFX DAKD comprised 1,272 digital financial assets and 49 digital financial asset derivatives, while the ICEX DAKD listed 866 digital financial assets available for trading.
To date, OJK has granted licenses to 32 entities within the crypto asset ecosystem, comprising:
• two crypto exchanges;
• two clearing, guarantee, and settlement institutions;
• two custodians; and
• twenty-six Digital Financial Asset Dealers (PAKD).
In addition, OJK has approved seven supporting institutions, all of which are Payment Service Providers (PSPs).
Pursuant to Article 87 of POJK No. 23 of 2025, amending POJK No. 27 of 2024 on the Trading of Digital Financial Assets, including Crypto Assets, segregated accounts may only be opened with commercial banks licensed by OJK. Consequently, OJK approval is no longer required for entities acting as Consumer Funds Depository Banks (BPDK).
OJK is currently evaluating licensing applications submitted by prospective crypto asset market operators, comprising one crypto exchange, one clearing institution, one custodian, two prospective Digital Financial Asset Dealers (CPAKD), and one Digital Financial Asset Dealer (PAKD).
The number of consumer accounts held with Digital Financial Asset Dealers continued to increase, reaching 22.69 million accounts as of June 2026, representing 1.32 percent month-on-month growth (May 2026: 22.40 million accounts).
The value of crypto asset transactions reached IDR28.58 trillion during June 2026, an increase of 24.20 percent month-on-month (May 2026: IDR23.01 trillion). Meanwhile, digital financial asset derivative transactions amounted to IDR4.19 trillion, up 3.64 percent from IDR4.04 trillion recorded in May 2026.
Despite fluctuations in transaction values, consumer confidence in Indonesia's digital financial asset and crypto asset ecosystem has remained strong.
Regulatory Enforcement
To strengthen regulatory compliance and consumer protection in the IAKD sector, during July 2026, OJK imposed administrative sanctions on six ITSK operators and one Digital Financial Assets and Crypto Assets operator for violations of applicable OJK regulations.
The sanctions consisted of one registration revocation and six written warnings.
These enforcement actions are intended to encourage industry participants to strengthen corporate governance, enhance prudent business practices, and improve compliance with applicable regulations, thereby enabling stronger performance and a greater contribution to the development of Indonesia's financial sector.
Financial Services Business Conduct Supervision, Financial Literacy, and Consumer Protection (PEPK) Developments
From 1 January to 23 July 2026, OJK conducted 3,228 financial literacy and education programs, reaching 11,306,469 participants.
Meanwhile, from 1 January to 30 July 2026, Sikapi Uangmu, OJK's dedicated digital financial education platform, published 227 educational contents through its microsite and social media channels, attracting a total of 2,154,998 viewers.
During the same period, the Financial Education Learning Management System (LMSKU) recorded 17,720 new users, with 16,682 module accesses and 11,908 certificates of completion issued.
Furthermore, since the launch of OJK PEDULI (Indonesian Financial Literacy Ambassador Initiative) in April 2025, the program has recruited 50,677 Financial Literacy Ambassadors as of 30 July 2026, representing financial institutions, priority community segments, and university students.
Financial Literacy Initiatives
To further strengthen financial literacy, OJK has undertaken several initiatives, including:
1.Implementation of GENCARKAN
Between 1 January and 23 July 2026, OJK implemented 33,869 GENCARKAN programs, reaching approximately 129 million participants nationwide. The initiatives comprised 14,705 face-to-face financial education activities and 19,164 digital financial education contents.
GENCARKAN has now been implemented in 415 out of 514 regencies and municipalities, representing 80.74 percent of Indonesia's administrative regions.
2.Seminar on Scam Prevention and Anti-Money Laundering
On 6 July 2026, OJK, together with the United Nations Office on Drugs and Crime (UNODC) and various stakeholders, organized the seminar entitled:
"Strengthening Defenses Against Scams: Addressing AML Vulnerabilities and Compliance in Digital Finance and Virtual Assets."
The seminar aimed to strengthen consumer protection against scams and digital fraud while enhancing stakeholder awareness of evolving fraud schemes.
During the event, the UN Resident Coordinator in Indonesia commended OJK for its leadership in establishing and operating the Indonesia Anti Scam Center (IASC), recognizing its important role in strengthening Indonesia's defenses against financial fraud.
3.Support for the West Nusa Tenggara (NTB) Regional Financial Access Acceleration Team (TPAKD)
OJK continued to support poverty alleviation initiatives through programs aimed at improving financial well-being based on financial literacy, financial inclusion, and community empowerment, including:
a. A co-creation workshop to develop implementation plans for promoting savings and improving access to financial services for rural communities, in collaboration with Women's World Banking (WWB) on 27–28 July 2026.
b. A Training of Beneficiaries program for village facilitators and local communities, conducted jointly with the International Labour Organization (ILO) on 29–31 July 2026 in Tetebatu Village, East Lombok Regency, to strengthen financial management capabilities and promote the use of formal financial services among low-income communities.
c. The launch of the Village Financial Well-being Enhancement Program, implemented in collaboration with financial institutions' community empowerment initiatives on 30 July 2026 in North Lendang Nangka Village, East Lombok Regency.
Strengthening Coordination with Regional Financial Access Acceleration Teams (TPAKD)
To strengthen coordination with Regional Financial Access Acceleration Teams (TPAKD), OJK conducted several activities:
1. Together with the East Kalimantan Provincial Government, OJK organized the Regional Coordination Meeting (Rakorda) of TPAKD on 7 July 2026 in Samarinda.
The meeting reviewed the implementation of TPAKD work programs across East Kalimantan, discussed strategic policy directions, monitoring and evaluation of TPAKD activities, technical guidance on the TPAKD Information System (SITPAKD), and the 2026 KEJAR Award.
2. Together with the Tolitoli Regency Government, OJK organized the TPAKD Plenary and Coordination Meeting on 10 July 2026.
The meeting discussed strategic priorities for TPAKD, reviewed the implementation of the 2025 work program, and prepared the implementation of the Inclusive Financial Ecosystem (EKI) initiative in Banagan Village, one of the priority programs under the 2026 TPAKD work plan.
During the same event, OJK also conducted outreach on the One Student, One Bank Account (KEJAR) program and OJK PEDULI for financial institutions in Tolitoli and Buol Regencies.
On 11 July 2026, OJK organized a Training of Trainers for Financial Literacy Ambassadors involving more than 100 fishermen and residents of Banagan Village. The program aimed to improve public understanding of legal, safe, and appropriate financial products and services, while increasing awareness of OJK's role in financial literacy and consumer protection.
The event also included the symbolic distribution of 1,000 Student Savings (SimPel) accounts to elementary, junior high, and senior high school students, as well as the enrollment of local fishermen in the BPJS Employmentprogram to expand financial access and social protection.
3. Together with the Provincial Governments of North Sulawesi and Gorontalo, OJK organized the Regional Coordination Meeting (Rakorwil) of TPAKD on 29 July 2026 in Manado.
The event began with the symbolic handover of People's Business Credit (KUR) financing, opening of Student Savings (SimPel) accounts, activation of QRIS merchant services, and the distribution of Mekaar financing.
The meeting also served as a forum to align TPAKD policies through discussions on regional economic development, priority commodities in North Sulawesi and Gorontalo, the latest TPAKD policy initiatives, financial well-being, the 2026 TPAKD Award, and presentations on the work programs of the Gorontalo Provincial TPAKD and the Sangihe Islands Regency TPAKD.
Market Conduct Supervision and Consumer Protection
To ensure compliance with applicable regulations and strengthen consumer protection, OJK continued to enforce market conduct and consumer protection requirements through the following measures:
1. Consumer Protection Enforcement
From 1 January to 23 July 2026, OJK imposed:
· a total of 80 written warnings were issued across 59 financial services institutions;
· six written orders on six institutions; and
· a total of 17 monetary penalties were imposed across 15 institutions.
During the period from 1 January to 19 July 2026, 137 financial institutions provided compensation to consumers totaling IDR73.36 billion, SGD88.74, and USD32,500.
2. Market Conduct Enforcement
From 1 January to 30 July 2026, OJK imposed 48 written warnings and 24 administrative fines totaling IDR7.58 billion for violations related to consumer protection, including advertising practices, debt collection conduct, and transparency requirements.
To prevent similar violations from recurring, OJK also required financial institutions to undertake corrective actions, including revising or discontinuing advertisements that did not comply with applicable regulations, reviewing internal policies, and implementing improvements identified through onsite and offsite supervisory activities.
3. Self-Assessment Reporting Compliance
From 1 January to 30 July 2026, OJK imposed eight administrative fines totaling IDR570 million on financial institutions that failed to submit their 2025 self-assessment reports despite being required to do so.
4. Financial Literacy and Inclusion Reporting Compliance
OJK also enforced reporting requirements relating to financial literacy and inclusion activities, including delays or failures in submitting reports on the realization of second-semester 2025 programs and the 2026 financial literacy and inclusion plans.
As of 30 July 2026, OJK had imposed 45 administrative sanctions, comprising 16 written warnings and 29 monetary penalties totaling IDR1.7 billion.
Consumer Services
From 1 January to 13 July 2026, OJK received 383,124 service requests through the Consumer Protection Portal Application (APPK), including 57,366 consumer complaints.
Of these complaints:
• Complaints related to the banking sector totalled 18,578
• Complaints involving the financial technology sector reached 25,443
• Complaints concerning finance companies amounted to 11,418
• Complaints related to insurance companies totalled 1,039
• Complaints concerning the capital market and other non-bank financial services sectors reached 888
Illegal Financial Activities
As part of efforts to combat illegal financial activities and fraud, from 1 January to 30 July 2026, OJK received 25,729 complaints concerning illegal entities, comprising:
• Complaints related to illegal online lending totalled 22,394
• Complaints concerning illegal investment schemes reached 3,161
•Complaints related to illegal pawnshop activities amounted to 174
During the same period, the Task Force for the Eradication of Illegal Financial Activities (Satgas PASTI) identified and shut down:
• Illegal online lending entities totalled 951
• Illegal investment offerings totalled 240
• Illegal private pawnshop operators totalled 27
• Other illegal financial activities totalled two.
operating through websites and mobile applications that had the potential to cause financial losses to the public.
Together with members of the Task Force for the Eradication of Illegal Financial Activities (Satgas PASTI), and with the support of the banking and payment system industry associations, OJK established the Indonesia Anti-Scam Centre (IASC) to strengthen the handling of financial fraud cases.
Since commencing operations on 22 November 2024 through 30 July 2026, IASC has achieved the following:
1.Received 636,014 fraud reports, comprising 308,623 reports submitted by victims through financial sector institutions (banks and payment service providers) and subsequently recorded in the IASC system, and 327,391 reports submitted directly by victims through the IASC platform.
A total of 1,176,571 accounts have been reported and verified, of which 604,923 accounts have been blocked. To date, victim funds amounting to IDR723.7 billion have been successfully frozen. In addition, IASC has identified 145,061 telephone numbers reported by fraud victims.
IASC will continue to enhance its operational capacity to further accelerate the handling of financial fraud cases.
2.Successfully facilitated the recovery of IDR204.3 billion in victim funds, originating from accounts held at 19 banks that had been used by fraud perpetrators.
Consumer Complaint Enforcement
1. On 23 July 2026, OJK summoned the management of PT Kredivo Finance Indonesia and PT KreditFazz Digital Indonesia to obtain clarification regarding alleged misconduct in debt collection practices involving a consumer in Purworejo, Central Java.
Based on the explanations provided, the consumer concerned was a user of the KrediFazz financing product marketed through the Kredivo application.
The case relates to field collection activities conducted by a third-party collection agency engaged by KrediFazz. OJK emphasized that financial services institutions remain fully responsible for the conduct of their third-party service providers. Accordingly, OJK instructed KrediFazz to conduct a comprehensive internal investigation, strengthen its governance framework, reinforce its code of ethics and standard operating procedures (SOPs) for field collection personnel, and take appropriate action against any parties found to have violated applicable requirements.
OJK is continuing its investigation and will take supervisory and/or enforcement measures should any regulatory violations be identified.
OJK also continues to urge all financial services institutions to ensure that debt collection practices are conducted ethically and without threats, violence, intimidation, or any actions that humiliate consumers, in accordance with OJK Regulation (POJK) No. 22 of 2023 on Consumer and Public Protection in the Financial Services Sector.
2. On 28 July 2026, Satgas PASTI ordered the cessation of the operations of Snapboost as part of its efforts to combat illegal financial activities.
Snapboost claimed to operate as a social media monetization platform based on a Click-to-Earn (C2E) model. The platform allegedly offered an investment scheme requiring participants to deposit funds in exchange for completing online tasks, such as liking and sharing content, while promising daily returns, membership-level bonuses, referral commissions (member-get-member), and additional rewards for participants making larger deposits.
Based on the Task Force's findings, Snapboost neither possessed a legal entity nor held a business license in Indonesia. Furthermore, its application and website were not registered as Electronic System Operators (PSE) with the Ministry of Communication and Digital Affairs.
Satgas PASTI also identified indications that the operators periodically changed the platform's web address and branding while maintaining substantially the same interface, features, and operating mechanism.
The Task Force has blocked access to the relevant applications and websites and is coordinating with law enforcement authorities to pursue further legal action.
OJK Policy Direction
To maintain the stability of the financial services sector and further strengthen its contribution to national economic growth, OJK has adopted the following policy measures:
A.Policies to Safeguard Financial System Stability
1. OJK welcomes Standard & Poor's (S&P) Global Ratings' decision to affirm the Republic of Indonesia's Sovereign Credit Rating at BBB with a Stable Outlook.
In its report, S&P noted that Indonesia's economic fundamentals continue to be supported by strong domestic demand, prudent fiscal policy, and a credible and flexible policy framework that helps preserve macroeconomic stability.
In line with this assessment, OJK remains committed to strengthening Indonesia's financial services sector through enhanced integrated risk-based supervision, financial market deepening, improvements in market integrity and governance, and the acceleration of digital transformation, in accordance with the mandate of the Law on the Development and Strengthening of the Financial Sector (P2SK Law).
2. OJK, together with the Self-Regulatory Organizations (SROs), continues to strengthen and accelerate the implementation of capital market integrity reform initiatives aimed at enhancing the transparency, credibility, integrity, and investability of Indonesia's capital market.
One of the key initiatives implemented during July 2026 was the refinement of the methodology for determining High Shareholding Concentration (HSC). The enhanced HSC methodology is expected to further support the development of an orderly, fair, and efficient securities market.
OJK also continued its constructive engagement with the global investment community throughout July 2026, including through the Investor Advisory Group (IAG) and other engagement platforms, as well as with global index providers. These engagements will continue on an ongoing basis as part of OJK's commitment to promoting greater transparency, improving market quality, and supporting the effective implementation of Indonesia's capital market integrity reform agenda.
B.Policies to Develop and Strengthen the Financial Services Sector, Market Infrastructure, and Governance
1. In accordance with Law No. 4 of 2026, amending Law No. 4 of 2023 on the Development and Strengthening of the Financial Sector (P2SK Law), which mandates OJK to regulate and supervise the Strategic Minerals and Commodities Exchange (BMKS) sector, OJK has established the Strategic Minerals and Commodities Exchange Regulatory and Supervisory Task Force (BMKS Task Force). The Task Force has been formed to prepare the regulatory and supervisory framework for the BMKS sector, including the necessary supporting infrastructure.
2. OJK and the Indonesia Competition Commission (KPPU) signed a Memorandum of Understanding (MoU) to strengthen cooperation in carrying out their respective mandates. The collaboration covers, among others, policy coordination and harmonization, joint studies and research, the exchange and utilization of data and information, as well as initiatives to enhance the capacity and competencies of human resources.
3. To strengthen efforts to combat scams and online gambling, while fostering a secure digital financial ecosystem, OJK, together with the Ministry of Communication and Digital Affairs (Komdigi) and the national banking industry, organized the OJK Banking Forum 2026 under the theme:
"Strengthening Banking Information Technology Governance and Enhancing Efforts to Combat Financial Crime and Online Gambling in the Digital Era."
The initiative focuses on three key pillars: strengthening the regulatory framework, enhancing risk-based supervision, and reinforcing inter-agency coordination in handling bank accounts suspected of being linked to online gambling activities.
4. OJK, in collaboration with IDX Carbon, held a Carbon Trading Awareness Program in Madiun on 3 July 2026. The event aimed to enhance public understanding of carbon trading through the Indonesia Carbon Exchange, including its mechanisms, opportunities, challenges, and role in supporting Indonesia's national decarbonization strategy. The program formed part of the 2026 Integrated Capital Market Education Program (SEPMT) in East Java Province.
5. To support the implementation of PSAK 117 – Insurance Contracts, OJK extended the deadline for the submission of the First Semester 2026 Business Plan Realization Report for insurance and reinsurance companies from 31 July 2026 to 31 August 2026.
The extension is intended to provide companies with sufficient time to align the underlying data and information used in preparing the reports, thereby maintaining the quality, consistency, and reliability of reporting during the implementation of PSAK 117.
Insurance and reinsurance companies remain responsible for ensuring that their reports are submitted in a complete, accurate, consistent, and timely manner in accordance with prevailing laws and regulations.
6. Following the Constitutional Court Decisions No. 139/PUU-XXIII/2025 and No. 164/PUU-XXIII/2025, OJK has adopted several policies regarding the payment of pension benefits:
a. Pension benefits derived from severance pay, long-service awards, and/or other employment compensation may be paid either as a lump sum or in instalments, based on the preference of the participant, surviving spouse, or child.
b. Pension funds may make lumpsum benefit payments without being subject to the previous regulatory limits on lump-sum payments or other specific conditions stipulated under earlier OJK regulations.
c. Prior to implementing these payment arrangements, pension funds are required to obtain OJK approval for amendments to their Pension Fund Regulations.
7. On 2 July 2026, OJK, together with the Indonesian Blockchain Association (ABI), organized the National Symposium and Stakeholder Consultation Forum on the Development and Strengthening of Financial Sector Technology Innovation, Digital Financial Assets, and Crypto Assets (IAKD).
The symposium brought together Commission XI of the House of Representatives (DPR RI) and other key stakeholders to gather inputs for the preparation of OJK's IAKD Roadmap 2026–2031, while also supporting the implementation of the amended P2SK Law.
Discussions covered a number of strategic issues, including asset tokenization, stablecoins, tax policy for digital financial assets, cybersecurity, over the counter (OTC) transactions, and the development of a Single Investor Identifier (SID).
8. Together with the Provincial Government of South Sumatra, OJK organized the Sultan Muda Fair 2026 on 6 July 2026 in Palembang under the theme:
"Digitally Capable, Financially Smart, and Ready to Create."
The event was held to promote greater understanding of Digital Financial Innovation (IKD) among young people.
Through the 100,000 Sultan Muda Program and the establishment of the Sultan Muda Sumsel Center (SMSC), OJK seeks to ensure that young people not only have access to financial services, but also possess the knowledge and skills to use them responsibly, productively, and safely within Indonesia's digital financial ecosystem.
The event also supports the prudent adoption of digital financial services while strengthening the regional technology-based entrepreneurship ecosystem. It serves as one of OJK's financial market deepening initiatives by bringing together local stakeholders to strengthen collaboration, expand networks, and encourage financing solutions tailored to regional potential and needs.
9. On 23 July 2026, OJK hosted the Focus Group Discussion (FGD) entitled "Accelerating the Next Generation of Innovators" at OJK Infinity, Jakarta.
The FGD was designed to foster the development of innovative, trustworthy, sustainable, and globally competitive digital start-ups as part of the OJK Fintech Startup Accelerator and OJK Infinity Accelerator programs, which build an integrated innovation pipeline from the ideation stage, mentoring, and regulatory sandbox, through to commercialization and implementation.
Through these programs, participating start-ups receive support in the form of business diagnostics, market validation, product strategy, financial modelling, regulatory clinics, and mentoring, while gaining opportunities to engage with regulators, investors, academics, industry associations, and practitioners.
OJK continues to encourage innovation that goes beyond business growth by fostering trust, strengthening corporate governance, ensuring regulatory compliance, and delivering tangible benefits to society and the national economy.
10. On 24 July 2026, OJK held a discussion with the Crypto Blockchain Community focusing on the application of blockchain technology through Digital Product Passports (DPPs) or Origin Certification. The discussion explored how blockchain can strengthen the identity and authenticity of Indonesian creative works by providing immutable digital records of authorship, ownership, and provenance. The adoption of this technology is expected not only to provide stronger protection for intellectual property rights but also to expand the economic opportunities available to creative industry participants through the development of intellectual property-based asset tokenization.
11. On 27 July 2026, OJK organized a Focus Group Discussion (FGD) entitled "Unlocking the Potential of MSMEs in Eastern Indonesia through Financial Digitalization" at the OJK Regional Office for South Sulawesi and West Sulawesi.
The discussion aimed to expand access to financing and strengthen the competitiveness of micro, small, and medium enterprises (MSMEs) through financial digitalization and innovation. During the forum, OJK encouraged the exploration of Real-World Asset (RWA) tokenization to support supply chain financing for key regional commodities, including warehouse receipts for rice, cocoa production, commodity purchase contracts, and regional infrastructure financing.
Through collaboration among the central and regional governments, the financial services industry, academia, and the business community, OJK remains committed to building an inclusive and sustainable digital financial ecosystem that supports MSME development and economic growth in Eastern Indonesia.
The initiative also forms part of OJK's financial market deepening agenda by bringing together local stakeholders to strengthen collaboration, identify financing needs, and encourage the development of financial solutions tailored to regional economic potential.
12. To strengthen the implementation of good governance, risk management, and a culture of integrity, OJK organized the Risk and Governance Summit (RGS) 2026 on 14 July 2026 under the theme:
"Future-ready Governance for Sustainable Growth and National Prosperity."
The event attracted more than 25,000 participants.
To further enhance professional competencies in governance, risk management, and compliance (GRC), RGS 2026 collaborated with 23 professional associations and institutions, enabling participants to obtain Continuing Professional Education (CPE) credits.
RGS 2026 also hosted the Innovation Paper Competition Volume 2 under the theme "Building Digital Trust and Ethical Governance for Indonesia's Future," which attracted 408 participants from 135 universities across Indonesia.
Through RGS 2026, OJK seeks to strengthen collaboration among regulators, financial institutions, professional associations, academia, and other stakeholders in promoting effective governance, enhancing the resilience of the financial services sector, and supporting sustainable national economic growth toward the vision of Golden Indonesia 2045.
13. OJK continues to strengthen the implementation of the Regional Economic Development Program (PED) as part of its efforts to build an integrated financing ecosystem that supports regional economic strengths through close collaboration with local governments and strategic partners.
As of July 2026, OJK, through its regional offices acting as strategic partners to local governments, has supported the development of 12 regional flagship sectors in agriculture and one creative economy sector across 41 regencies and municipalities.
The program has expanded access to a wide range of financial products and services, including financing provided by Permodalan Nasional Madani (PNM), banks, securities crowdfunding, insurance companies, pension funds, and innovative credit scoring solutions, benefiting 5,680 individuals.
During implementation, stakeholders provided valuable recommendations to broaden the program's impact, strengthen collaboration, promote financing innovation, and expand the participation of strategic partners and regional coverage.
OJK welcomes these recommendations and remains committed to strengthening the PED program to expand access to financing, increase the value added of regional economic strengths, and promote inclusive and sustainable regional economic growth.
14. During the reporting period, OJK issued the following regulations and implementing guidelines:
a. OJK Regulation (POJK) No. 10 of 2026 amending POJK No. 14 of 2023 on Carbon Trading through the Carbon Exchange.
The regulation forms part of OJK's efforts to support the Government's strategic policy on carbon economic value instruments and national greenhouse gas emission control, following the issuance of Presidential Regulation No. 110 of 2025, which amended Presidential Regulation No. 98 of 2021 on Carbon Economic Value Implementation.
b. POJK No. 9 of 2026 on Incidental Reporting through OJK's Reporting System for the Capital Market, Financial Derivatives, and Carbon Exchange (PMDK) Sector.
The regulation aims to improve the efficiency and effectiveness of incidental reporting while supporting technology-driven supervision across the PMDK sector. Effective 1 October 2026, it introduces a centralized electronic reporting system for all market participants and licensed professionals, improving the efficiency, speed, accuracy, and integration of reporting processes.
c. OJK Implementing Guideline (PADK) No. 4 of 2026 on Anti-Money Laundering, Counter-Terrorism Financing, and Counter-Proliferation Financing Programs for Trustees.
The guideline provides legal certainty and technical guidance for trustees in implementing AML/CFT/CPF obligations in accordance with Law No. 8 of 2010 on the Prevention and Eradication of Money Laundering and POJK No. 8 of 2023.
d. PADK No. 5 of 2026 on Internal Control and Business Conduct for Securities Companies Acting as Underwriters.
The guideline provides further guidance on underwriting functions, bookkeeping, risk management, compliance, and, where applicable, internal audit and research functions.
e. PADK No. 6 of 2026 on Carbon Trading through the Carbon Exchange, issued as the implementing regulation of POJK No. 10 of 2026.
The guideline aligns technical implementation with the amended regulation, covering, among others, carbon units eligible for trading, governance requirements for Carbon Exchange operators, capital requirements, shareholding, boards of directors and commissioners, fit and proper assessments, operational requirements, internal controls, licensing procedures, corporate governance documents, annual business plans and budgets, and reporting obligations.
f. PADK No. 7 of 2026 on Asset Quality Assessment of Financing Receivables of PT Sarana Multi Infrastruktur (Persero).
Issued pursuant to Article 52 paragraph (6) of POJK No. 16 of 2024, the guideline establishes asset quality assessment standards based on three key pillars: the debtor's business prospects, financial performance, and repayment capacity.
15. OJK is currently preparing the following regulations:
a. A draft OJK Regulation (RPOJK) on Credit Information Management Institutions (LPIP) to replace POJK No. 5 of 2022.
The draft regulation is intended to strengthen the role of LPIP within Indonesia's national credit reporting ecosystem in line with the National Strategy and Credit Reporting System Roadmap, the LPIP Development Roadmap, and recent legislation, including the Personal Data Protection Law and Government regulations concerning OJK's Work Plan and Budget and supervisory levies.
It also reflects evolving business practices affecting LPIP ownership and operations, including the growing use of artificial intelligence, to ensure that the regulatory framework remains adaptive, secure, transparent, and responsive to industry needs.
b. RPOJK on Bank Examinations, which will replace POJK No. 41/POJK.03/2017.
The draft regulation updates supervisory practices by refining examination procedures, including confirmation of examination findings, reporting requirements according to the type of examination, greater emphasis on prudential supervision, revisions to the scope of supervised parties, and alignment with the P2SK Law, particularly regarding supervisory procedures, banks' obligations to provide data and information, and examination reports.
c. RPOJK on the Licensing of Financial Services Professionals in the Capital Market, Financial Derivatives, and Carbon Exchange Sector.
The draft regulation implements the mandate of the P2SK Law to strengthen the quality of human resources in the PMDK sector while aligning professional licensing requirements with industry developments and the Indonesian National Qualifications Framework (KKNI).
d. RPOJK on Good Corporate Governance for the Insurance, Guarantee, and Pension Fund (PPDP) Sector.
The proposed regulation harmonizes governance requirements across the three PPDP sectors by strengthening the implementation of integrated governance, risk management, and compliance frameworks to support sustainable sectoral growth.
e. A draft Second Amendment to POJK No. 49 of 2024 concerning the Supervision, Supervisory Status Determination, and Supervisory Follow-up for Financing Companies, Venture Capital Companies, Microfinance Institutions, and Other Financial Services Institutions (PVML).
The proposed amendment refines the existing supervisory framework by revising the quantitative parameters for determining Intensive Supervision and Special Supervision status, as well as the duration of the Special Supervision period.
C. Development and Strengthening of the Islamic Financial Services Sector
Performance across Indonesia's Islamic financial sector remained resilient. While the Indonesia Sharia Stock Index (ISSI) continued to record a year-to-date decline in line with the broader Jakarta Composite Index (JCI), several segments demonstrated growth. Sharia mutual funds recorded an 11.71 percent year-to-date increase in Assets Under Management (AUM), while corporate sukuk outstanding grew 7.86 percent year-to-date.
As of June 2026, Islamic banking financing increased 11.09 percent year-on-year, Islamic financing company receivables grew 9.14 percent year-on-year, while Islamic insurance contributions recorded a contraction.
As part of the implementation of Article 9 of OJK Regulation (POJK) No. 11 of 2023, a total of 41 insurance companies have submitted revised Sharia Business Unit Spin-off Work Plans (RKPUS), comprising 23 companies that intend to establish new standalone Sharia insurance companies through spin-offs and 18 companies that plan to complete the spin-off process through portfolio transfers to other insurance companies.
As of 27 July 2026, compared with the previous month, an additional two insurance business units had completed the spin-off process through the establishment of new companies, while one insurance business unit had completed its portfolio transfer. Cumulatively, five companies have completed their spin-offs through the establishment of new entities, while ten companies have completed the process through portfolio transfers. In addition, nine companies remain in the process of establishing new standalone Sharia insurance companies through spin-offs.
To further promote the development, literacy, and inclusion of Islamic finance, OJK has undertaken several initiatives:
1. Islamic Capital Market Public Lecture
OJK organized an Islamic Capital Market Public Lecture at Universitas Darussalam Gontor as part of the 2026 Integrated Capital Market Education Program (SEPMT) in East Java Province.
The program emphasized that the growing number of investors should be accompanied by a sound understanding of investment instruments and their associated risks, including Sharia-compliant investment products.
2. Sharia Financial Fair (SYAFIF) 2026
OJK organized the Sharia Financial Fair (SYAFIF) in Banjarmasin on 4–5 July 2026 to promote broader public access to Islamic financial products and services, enhance financial literacy, and encourage the opening of Sharia financial accounts.
The event was attended by 17 Islamic financial services institutions, Rumah Zakat, and the Indonesia Deposit Insurance Corporation (LPS).
The event received strong public interest, resulting in the opening of 28,505 new accounts and transaction volumes totaling IDR236.6 billion.
3. First Meeting of the 2026 Working Group on Islamic Financial Literacy and Inclusion (POKJA LIKS)
On 20 July 2026, OJK convened the first meeting of the Working Group on Islamic Financial Literacy and Inclusion (POKJA LIKS) for 2026 to strengthen collaboration among stakeholders in advancing Islamic financial literacy and inclusion.
The meeting was attended by OJK and 35 member organizations, representing the National Sharia Council of the Indonesian Ulema Council (DSN-MUI), the Indonesian Islamic Economic Society (MES), the Indonesian Association of Islamic Economists (IAEI), the National Committee for Islamic Economy and Finance (KNEKS), the Indonesia Stock Exchange (IDX), financial services industry associations, academia, and community and women's leaders.
The forum is expected to provide recommendations on the implementation of the 2026 Islamic financial literacy and inclusion programs, as well as proposals for their future development.
4. Indonesia Sharia Financial Olympiad (ISFO) 2026
OJK has relaunched the Indonesia Sharia Financial Olympiad (ISFO) 2026 as part of the GENCARKAN financial literacy movement.
Participant registration opens from 1 July 2026 until 14 August 2026 through the official ISFO website (www.isfo.id).
This year's competition introduces several enhancements aimed at improving standardization and expanding participation, including:
· the development of a dedicated website serving as the official information and registration portal;
· the implementation of a Computer-Based Test (CBT) system for the Sharia Financial Knowledge Competition (CCKS);
· improvements to the evaluation framework for the Young Sharia Financial Entrepreneurship Competition; and
· the use of ISFO's official Instagram account (@isfo.id) as a platform for public outreach, information dissemination, and financial education.
D. Regulatory Enforcement and Investigation Developments
As part of its investigative function, as of 31 July 2026, OJK investigators had concluded 187 criminal investigations, comprising 148 banking cases, nine capital market, financial derivatives, and carbon exchange (PMDK) cases, 25 insurance, guarantee, and pension fund (PPDP) cases, and five financing companies, venture capital, microfinance institutions, and other financial services institutions (PVML) cases.
To date, 158 cases have been adjudicated by the courts, of which 153 have obtained final and binding legal force (inkracht), four remain under appeal, and one is pending cassation before the Supreme Court.
Throughout the investigation process, OJK investigators have maintained close coordination with other law enforcement agencies to strengthen the enforcement of laws and regulations in the financial services sector.
Investigation Status (as of 31 July 2026)
As part of its efforts to strengthen law enforcement in the financial services sector, OJK has taken the following actions upon completion of investigations:
1. PT Asuransi Jiwa Prolife Indonesia (formerly PT Asuransi Jiwa Indosurya Sukses/PT AJIS)
OJK transferred the suspect and evidence (Stage II) in the alleged insurance crime involving PT Asuransi Jiwa Prolife Indonesia to the South Jakarta District Prosecutor's Office, following the Public Prosecutor's confirmation that the case file was complete (P-21).
In this case, OJK named HS, the controlling shareholder of PT Asuransi Jiwa Prolife Indonesia, as a suspect.
During the investigation, OJK successfully seized assets consisting of:
· A total of 11 parcels of land and buildings located in North Sumatra, Makassar, and Bogor were identified, with an estimated value of approximately IDR 20.9 billion;
· time deposits totaling IDR21.065 billion held under third-party names; and
· shareholdings in a company with an estimated value of approximately IDR72 billion.
2. PT BPR Sumber Artha Waru Agung (SAWA)
OJK transferred the suspect and evidence (Stage II) in the alleged banking crime involving PT BPR Sumber Artha Waru Agung (SAWA) in Sidoarjo, East Java, to the Sidoarjo District Prosecutor's Office.
OJK had previously submitted the Stage I case file to the Public Prosecutor, and on 29 June 2026 the file was declared complete (P-21).
OJK named KI, the President Director of PT BPR SAWA, as the suspect.
3. PT BPR DCN
OJK also transferred the suspect and evidence (Stage II) in the alleged banking crime involving PT BPR DCN in Malang, East Java, to the Batu District Prosecutor's Office.
The Stage I case file had previously been declared complete (P-21) in June 2026.
In this case, OJK named GK, a Commissioner and Shareholder of PT BPR DCN, as the suspect.
The completion of these investigations reflects OJK's continued commitment to enforcing the law firmly, consistently, and sustainably in order to safeguard the integrity of Indonesia's banking industry and protect the interests of the public.
OJK will continue to strengthen law enforcement through professional, firm, and consistent action against all suspected criminal offenses in the financial services sector. These efforts form an integral part of OJK's commitment to maintaining financial system stability, strengthening governance across the financial services industry, and enhancing consumer and public protection.
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For further information:
Head of the Integrated Financial Services Sector Surveillance and Policy Department; Agus Firmansyah
Tel. (021) 29600000; Email: humas@ojk.go.id