Complete List: 15 Revision Points in the P2SK Law Passed by the House of Representatives
The House of Representatives (DPR) Plenary Session officially passed the Bill concerning the Amendment to Law Number 4 of 2023 on the Development and Strengthening of the Financial Sector (P2SK) on Thursday, 3 June 2026. The decision was reached at the second level of parliamentary proceedings following the agreement by Commission XI on the results of the Working Committee (Panja) discussions held previously.
The Chairman of the P2SK Bill Working Committee and Vice Chairman of Commission XI, Mohammad Hekal, detailed 1lar 15 key points within the amendment, which include improvements, adjustments, and new regulations. Beyond focusing on the institutional restructuring of the Financial Services Authority (OJK), the amendments are designed to respond to existing societal issues. The revised P2SK Law is expected to serve as a comprehensive step in strengthening and harmonising the financial sector’s regulatory framework, while enhancing synergy and coordination between institutions to maintain national financial stability.
‘It is hoped that this P2SK Amendment Bill can support the development of depth and stability within the national financial system and increase public confidence in the financial sector,’ he stated at the DPR RI building in Jakarta.
The 15 key points are as follows:
Strengthening the status of the Indonesia Deposit Insurance Corporation (LPS) as an independent legal entity and state institution, refining the selection, dismissal, and replacement processes for Board of Commissioners members, and strengthening the budget preparation mechanism for the LPS.
Expanding the duties of the Financial Services Authority (OJK) to include supervision and regulation of capital market activities, derivatives, carbon exchanges, and strategic mineral and commodity exchanges, including other public fund management activities.
Strengthening the mandate of Bank Indonesia (BI) to implement policies and policy mixes conducive to real sector growth, and refining the governance and accountability of Bank Indonesia’s annual budget.
Expanding the duties of the LPS, OJK, and Bank Indonesia to conduct inclusive community empowerment and education programmes.
Expanding the scope of business activities for commercial and Sharia commercial banks, adjusting bad debt handling for micro, small, and medium enterprises (MSMEs) to broaden financing access, and strengthening bank consolidation through a formal roadmap.
Strengthening the Indonesian Capital Market through the demutualisation of the Indonesia Stock Exchange (BEI) to enhance governance, investor confidence, and stakeholder participation.
Introducing regulations regarding margin transfers in financial market transactions using a mechanism for the transfer of ownership rights over margins.
Strengthening the crypto-asset industry to increase the attractiveness and competitiveness of crypto-assets, allowing them to contribute significantly to the national economy.
Changing the concept of the policy guarantee programme mechanism, allowing the LPS, as the administrator of the policy guarantee programme, the option to either rescue or not rescue insurance and Sharia insurance companies designated by the OJK as being in resolution.
Refining regulations regarding mandatory traffic accident insurance to provide optimal protection for the public, specifically accident victims, including coverage for single-vehicle accidents, while avoiding moral hazard.
Refining regulations regarding investigations and enquiries within the financial services sector, aligning restorative justice mechanisms with the Criminal Procedure Code.
Refining regulations regarding bank adjustments during recovery processes and the period for fund placement by the LPS to align with bank recovery practices.
Establishing and strengthening task forces to prevent and handle unauthorised financial business activities, licensed activities suspected of violating regulations, consumer protection issues, and the use of financial technology innovations for suspected gambling activities.
Regulations regarding mineral and strategic commodity exchanges.
A mandate for the establishment of an Indonesian international financial centre.