Finance Minister Purbaya Promises Incentives for IDX, But with Conditions...

JAKARTA, KOMPAS.com - Finance Minister Purbaya Yudhi Sadewa has opened opportunities for providing incentives to the capital market. This policy depends on the performance of the transformation and integration carried out by the Financial Services Authority, Indonesia Stock Exchange, and Central Securities Depository Indonesia. Purbaya stated that the government will evaluate the effectiveness of the programme before deciding on incentives. “If the programme runs well later, it’s fine to give incentives from now on,” he said at the Indonesia Stock Exchange building on Monday (27/4/2026). Those steps include increasing transparency of share ownership above 1 per cent, strengthening investor classification, implementing High Shareholding Concentration, and raising the minimum free float threshold. Purbaya views strengthening the financial sector as crucial for driving economic growth. Funds flowing from the capital market are seen as capable of bolstering financing through bonds and the real sector. “Money from there can be used to buy bonds and other instruments. Ultimately, that will drive the economy,” he explained. He acknowledged that incentives could pressure state revenues in the short term. However, the long-term impact is deemed greater if it can spur economic activity. The government will consider the scale of the impact before making a decision. “But if the amount is small, why bother; if it’s large and good, we’ll see,” he said. The meeting took place in a constructive atmosphere and received a positive response. OJK’s Executive Head of Capital Market Supervision, Hasan Fawzi, noted that MSCI appreciated the reforms that have been implemented. “So, praise be, last week we met directly with MSCI’s leadership. Then also with their analysts. And in that meeting, as continued with the announcement from MSCI, it was very good, constructive, and positive,” he said.