DPR Aims to Finalise P2SK Law Revision by June 2026

House of Representatives’ Commission XI will finalise the revision of Law No. 4 of 2023 on the Development and Strengthening of the Financial Sector (P2SK). Commission XI Chairman Mukhamad Misbakhun stated the law revision is targeted for completion by June 2026.

“Several regulations have been synchronised with the government’s Problem Inventory List (DIM), and we will discuss them in early June to finalise,” he told journalists at Balai Kartini, Jakarta, on Monday, 25 May 2026.

The basis for the P2SK law revision stems from a Constitutional Court (MK) ruling regarding the budget of the Deposit Insurance Agency (LPS). According to MK Decision No. 85/PUU-XXII/2024, the LPS annual work plan (RKAT) no longer requires the Finance Minister’s approval. Other changes relate to the MK’s ruling on financial sector investigation powers.

However, the revision scope expanded to include Bank Indonesia’s role. Under the new regulations, BI will be granted a new mandate to drive economic growth and job creation.

Misbakhun previously stated that BI’s role in driving economic growth is necessary to achieve the 8% target. “The central bank will revert to its New Order-era role, with tangible responsibilities in growth and job creation,” he said at a Financial Forum at the Indonesia Stock Exchange on Wednesday, 3 December 2025.

However, Misbakhun claimed the P2SK law revision would not compromise the central bank’s independence. At the same event, BI Senior Deputy Governor Destry stated BI previously had three mandates: maintaining rupiah stability, financial system stability, and payment systems.

However, Destry noted all these were aimed at supporting sustainable economic growth. With the P2SK law revision, Destry said sustainable economy is now more specifically focused on employment. “This makes it more concrete for BI to engage more with the real sector,” he said.