Finance Minister Purbaya to Intervene in Regulating OJK Budget, See the New Regulation
Jakarta, VIVA – Finance Minister Purbaya Yudhi Sadewa has issued Ministerial Regulation on Finance (PMK) No. 27 of 2026 concerning the Procedures for Managing the Budget of the Financial Services Authority (OJK), effective from 24 April 2026.
Acting Director General of Financial Sector Stability and Development (DJSPSK) at the Ministry of Finance, Herman Saheruddin, assured that the new policy will not interfere with OJK’s independence.
The content includes regulations on the administrative aspects of OJK’s budget management within the state financial framework, including planning, reporting, and accountability.
“The regulation is procedural in nature and does not touch upon OJK’s authority in carrying out its regulatory, supervisory, examination, or decision-making functions,” said Herman in his statement on Thursday, 30 April 2026.
He emphasised that the rule was created to strengthen the implementation of good governance principles in the financial services sector’s financial management, as part of efforts to build the credibility of the financial supervisory institution. Herman stressed that applying good governance principles will also ensure that policy independence runs alongside strong accountability.
“This not only safeguards institutional integrity but also strengthens public confidence in OJK and the stability of the financial sector,” he stated.
The new regulation also emphasises a clear separation between policy independence and administrative accountability. Meanwhile, the coordination regulated is a form of technical alignment within the State Budget (APBN) framework, particularly to ensure consistency in the budget cycle and reporting standards without changing OJK’s authority in determining policy direction.
Herman explained that this approach aligns with international practices, where independent financial supervisory institutions still implement reporting and budget accountability mechanisms integrated with the national financial system. This is part of the principles of checks and balances and public transparency.
“Thus, strengthening governance actually becomes a factor that reinforces independence, not the other way around. OJK’s work plan and budget are still prepared by the Board of Commissioners and discussed with the House of Representatives (DPR) in accordance with legal provisions,” he said.
For information, Article 3 of PMK No. 27/2026 states that OJK’s budget is part of the State General Treasurer’s (BUN) budget within the APBN, which is prepared by OJK in discussion with the DPR.