Boosting Sharia PVML Growth: OJK to Launch Roadmap

The Financial Services Authority (OJK) will soon launch a roadmap to strengthen the Sharia-compliant industry for Financing Institutions, Venture Capital Companies, Microfinance Institutions, and Other Financial Service Institutions (PVML). This move is intended to drive growth in a sector that currently lags far behind its conventional counterpart.

According to OJK data as of July 2026, total assets in the PVML sector reached IDR 1,157.74 trillion. Of this amount, conventional sector assets reached IDR 1,022.85 trillion, while Sharia assets stood at IDR 134.89 trillion. Consequently, Sharia PVML assets contribute approximately 11.7 per cent of the total PVML sector assets, whereas the conventional sector accounts for about 86.3 per cent.

“We are currently developing a roadmap for the strengthening of Sharia PVML. We will launch it in the near future,” said Agusman, the Executive Head of Supervision for Financing Institutions, Venture Capital Companies, Microfinance Institutions, and Other Financial Service Institutions at OJK, and also a Member of the OJK Board of Commissioners, during a statement in Lombok, West Nusa Tenggara, as reported on Sunday, 30 August 2026.

In terms of financing distribution, the PVML sector recorded a total of IDR 1,064.25 trillion, with conventional financing amounting to IDR 939.04 trillion and Sharia financing at IDR 125.21 trillion. This means, he continued, that the contribution of Sharia financing is approximately 11.8 per cent.

“Indeed, the growth remains slim,” said Agusman.

Regarding the number of market players, there are 749 PVML entities, consisting of 650 conventional players and 99 Sharia players. This implies that Sharia players represent approximately 13.2 per cent of the total players.

He added that the need for a development roadmap for the Sharia PVML industry was one of the primary pieces of feedback provided by industry players to the OJK. The preparation of this roadmap is expected to provide a clearer direction for the development of the Sharia PVML industry, while simultaneously encouraging sector growth to increase its overall contribution to the PVML industry.

In addition to Sharia PVML, the OJK also noted that financing from PVML for MSMEs (Micro, Small, and Medium Enterprises) accounted for 30.93 per cent of total financing distribution, amounting to IDR 338.6 trillion.