MSCI Retains Indonesia's Emerging Market Status

The Financial Services Authority (OJK) has welcomed the announcement of the MSCI 2026 Market Classification Review, released on 24 June 2026, which maintains Indonesia’s status as an Emerging Market. OJK Chair of the Board of Commissioners Friderica Widyasari Dewi stated that the decision reflects global investor confidence in the resilience of the national economy, the stability of the financial services sector, and ongoing reforms to strengthen the transparency, integrity, and competitiveness of Indonesia’s capital market. “We also note MSCI’s recognition of various capital market integrity reforms that have been implemented. Areas that still require attention are part of a constructive evaluation process and will be followed up together with all stakeholders,” Friderica said in Jakarta on Wednesday (24/6). Earlier, on 19 June 2026, MSCI released its Global Market Accessibility Review 2026, which ranked Indonesia’s market accessibility as one of the best among Emerging Markets in the Asia-Pacific region. Chief Executive of Capital Market, Derivative Finance, and Carbon Exchange Supervision Hasan Fawzi said the assessment demonstrates global index providers’ recognition of Indonesia’s capital market reform agenda, executed by the OJK together with Self-Regulatory Organizations (SROs) since early 2026. Hasan noted that the positive assessment provides important capital for the domestic capital market to continue growing with a stronger foundation of transparency, integrity, and governance. He added that the MSCI classification aligns with FTSE Russell’s April 2026 evaluation, which kept Indonesia in the Secondary Emerging Market group alongside major markets like China and India, without placing it on a watch list for further review. The OJK emphasised that maintaining Emerging Market status is not the final goal, pledging to accelerate reform implementation and follow up on constructive feedback to enhance the market’s credibility and investability.