MSCI Retains Indonesian Market Status, OJK to Continue Capital Market Reforms

The Financial Services Authority (OJK) has confirmed it will continue, strengthen, and accelerate the Indonesian capital market reform agenda launched earlier this year, in response to the MSCI 2026 Market Classification Review announcement. OJK welcomed MSCI’s recognition of various Indonesian capital market initiatives and programmes, noting that MSCI had utilised increasingly transparent data as a new source in its assessment. “This shows how our reform achievements have received meaningful recognition, thereby further strengthening the credibility and investability of the domestic capital market,” said Hasan Fawzi, Chief Executive of Capital Market, Derivative Finance, and Carbon Exchange Supervision at OJK, in an official statement in Jakarta on Wednesday (24/6/2026). Hasan stated that OJK appreciates MSCI’s statement that it will continue to monitor Indonesia’s capital market reform agenda. Consequently, OJK will consistently implement and reinforce all reform programmes. Going forward, he confirmed that OJK and Self-Regulatory Organizations (SRO) will maintain constructive communication and engagement with global index providers and investors to ensure the reform agenda is comprehensively understood by the global investment community. OJK will also communicate periodically with global institutional investors, facilitated by organisations such as the World Bank, IFC, and ASIFMA, to convey progress on implemented reforms directly. “In addition, we are also open to receiving input and feedback that helps us strengthen various aspects of the capital market,” Hasan said. According to Hasan, MSCI’s recognition can serve as capital for the Indonesian capital market to grow robustly and sustainably, with a foundation of transparency, governance, and market integrity that is much stronger than before. “Thus, the Indonesian capital market will increasingly play a role as a driver of long-term capital formation and a trusted investment centre to support national economic growth and financial system stability,” Hasan concluded. The MSCI 2026 Market Classification Review announcement acknowledged reforms in transparency announced by OJK, the Indonesia Stock Exchange (BEI), and the Indonesian Central Securities Depository (KSEI).