DPR to Evaluate BI, OJK, and LPS via P2SK Bill; Purbaya: Recommendations Will Be Binding
Jakarta, CNBC Indonesia - Finance Minister Purbaya Yudhi Sadewa has emphasised that the new Draft Law revising Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (UU P2SK) will grant the House of Representatives (DPR) the authority to evaluate the performance of Bank Indonesia (BI), the Financial Services Authority (OJK), and the Deposit Insurance Corporation (LPS).
He stated that these performance evaluations will be conducted by the DPR, with the results presented as recommendations to the respective authorities and the government. He noted that the recommendations arising from the evaluation of these three financial sector institutions will be binding.
“The DPR can conduct performance evaluations of LPS, OJK, and BI, the results and recommendations of which will be submitted to the relevant authorities and the government for follow-up and shall be binding,” Purbaya asserted in the Meeting Room of Commission XI of the DPR, Jakarta, on Wednesday (3/6/2026).
The new P2SK Bill has been agreed upon by Commission XI of the DPR and the government, to be finalised in the upcoming DPR Plenary Session. This agreement was reached after the Working Committee for the discussion of the Bill amending the Financial Sector Development and Strengthening Law (UU P2SK) completed its deliberations.
The Chairman of Commission XI, Mukhamad Misbakhun, ratified the agreement after the working committee’s report was agreed upon by all DPR factions in Commission XI, alongside the government, represented by Finance Minister Purbaya Yudhi Sadewa and Minister of Law Supratman Andi Agtas.
“The eight factions in Commission XI of the DPR have approved the Bill regarding the amendment to Law Number 4 of 2023 concerning P2SK, to be moved to the second stage of discussion in the DPR RI Plenary Session for approval as Law,” Misbakhun stated.
During today’s working meeting, the Chairman of the P2SK Bill Working Committee and Vice Chairman of Commission XI, Mohammad Hekal, also read the key materials and regulations contained within the Bill.
“There are 17 key points of material and regulation within the P2SK Amendment Bill that have been agreed upon during the working committee discussions,” said Hekal.
The 17 key points of material and regulation in the P2SK Amendment Bill are as follows:
LPS Institutional Framework
OJK Institutional Framework
BI Institutional Framework
Performance evaluation of LPS, OJK, and Bank Indonesia by the DPR
Expansion of scope for conventional and Sharia banking
Demutualisation of the Stock Exchange in the Capital Market
Margin transfer in financial market transactions
Danantara Debt Securities
Insurance and Sharia insurance companies in resolution
Mandatory traffic accident insurance funds
Mineral and strategic commodity exchange
Crypto assets
Task force for the prevention and handling of online loans and online gambling
Indonesia’s International Financial Centre
Handling of bad debts for MSMEs
Investigation and inquiry in the financial services sector as well as restorative justice mechanisms
Banks under recovery