Approved! The DPR Agrees to Ratify the Bill on Amendments to Law Number 4 of 2023 Concerning the Development and Strengthening of the Financial Sector (P2SK) into Law
Jakarta, CNBC Indonesia - A plenary session of the DPR has officially ratified the Bill on Amendments to Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (P2SK) as a new law.
This decision was made after all factions in the DPR agreed to make the bill a new law during today’s plenary session. Deputy Speaker of the DPR from the Gerindra faction, Sufmi Dasco Ahmad, also banged the gavel as a symbol of ratification.
“It can be approved to be ratified into law,” said Dasco, as the leader of the plenary session, Thursday (June 4, 2026).
The decision at the second level, or the DPR Plenary Session, was made after Commission XI agreed on the results of the discussion of the Working Committee (Panja) of the P2SK Bill in Commission XI, yesterday, Wednesday (June 3, 2026). Also present at the final meeting of the first-level DPR were Finance Minister Purbaya Yudhi Sadewa and Law and Human Rights Minister Supratman Andi Agtas.
“That 8 factions in Commission XI of the DPR approved the Bill on amendments to Law Number 4 of 2023 concerning P2SK to be brought to the second-level discussion, in a DPR plenary session to be approved into law,” said Chairman of Commission XI of the DPR, Mukhamad Misbakhun, while banging the gavel for the final decision in the meeting yesterday.
The Chairman of the Panja of the P2SK Bill, who is also Deputy Chairman of Commission XI of the DPR, Mohammad Hekal, also read out the main contents and provisions in the bill at the meeting, after the discussion had been ongoing since February 4, 2026.
“There are 17 main contents and provisions in the P2SK amendment bill that have been agreed upon in the working committee discussion,” said Hekal in the Commission XI DPR Meeting Room, Jakarta, Wednesday (June 3, 2026).
Hekal said that the drafting team and the synchronization team had also determined that the new law consists of 2 Roman numeral articles and 10 numbered amendments with a total of 145 articles overall, and consists of 17 main contents and provisions, as follows:
The institution of the LPS (Deposit Insurance Corporation)
The institution of the OJK (Financial Services Authority)
The institution of Bank Indonesia (BI)
Evaluation of the performance of the LPS, OJK, and Bank Indonesia by the DPR
Scope of expansion of banking and Islamic banking business
Demutualization of the Stock Exchange in the Capital Market
Margin transfers in transactions in the financial market
Danantara Bonds
Insurance companies and Islamic insurance in resolution
Mandatory accident insurance fund
Mineral and strategic commodity exchange
Crypto assets
Task force for the prevention and handling of online loans and online gambling
International financial center of Indonesia
Handling of non-performing loans to MSMEs
Investigation and prosecution in the financial services sector and the mechanism of restorative justice
Banks in recovery