Hasan Fawzi Undergoes OJK Fit and Proper Test, Targets Capital Market Capitalisation of Rp 25,000 Trillion

Jakarta, Indonesia – Hasan Fawzi, acting head of capital market oversight, derivative finance, and carbon exchange at the Financial Services Authority (OJK), has announced an ambitious target to increase capital market capitalisation to Rp 25,000 trillion by 2031.

Fawzi made the statement whilst undergoing the fit and proper test for OJK Board of Commissioners membership before Parliament’s Commission XI on Wednesday, 11 March 2026, in Jakarta.

Fawzi explained that the target forms part of his five-year performance objectives should he be approved as one of OJK’s leadership members.

“We have established strategic performance projections for the next five-year period through to 2031, targeting capital market capitalisation to reach Rp 25,000 trillion, or approximately 80 per cent of national GDP,” stated Fawzi.

By the end of 2025, the total number of capital market investors comprising equity, bond, and mutual fund investors reached 20.3 million, representing a 36.67 per cent increase from end-2024. Specifically, equity and securities investors increased by more than 2.2 million to reach 8.59 million equity investors.

Additionally, Fawzi has set a target for daily average transaction value (RNTH) to reach Rp 35 trillion per day. The RNTH position at the end of 2025 was at Rp 18.06 trillion per day.

“Alongside this, there has been improvement both in the number of issuers and the amount of funds managed by investors,” stated Fawzi.

“We hope that all these targets can be implemented in a directed and measurable manner, with clear indicators and achievement timelines, so that together we can oversee all these activities to deliver tangible impact on strengthening the capital market and derivative sector,” he added.