MSCI Retains Indonesia's Emerging Market Status, OJK Responds

Morgan Stanley Capital International (MSCI) released its Market Classification Review on Wednesday morning, 24 June 2026, maintaining Indonesia’s status in the Emerging Market category. The Financial Services Authority (OJK) responded through its Chief Executive of Capital Market, Derivative Finance, and Carbon Exchange Supervision, Hasan Fawzi. He stated that the confirmation from MSCI’s classification results aligns with Indonesia’s expectations, and the OJK therefore welcomes the annual assessment positively. “For us, this MSCI announcement serves as momentum to continue, strengthen, and accelerate the capital market reform agendas that we have launched since the beginning of this year,” Hasan said in a statement on Wednesday, 24 June 2026. “Moreover, in the Market Classification Review announcement, MSCI provided positive notes regarding Indonesia’s capital market reform agenda,” he added. Hasan conveyed that MSCI has also acknowledged various initiatives and progress from Indonesia’s capital market reform programme, which will be further strengthened going forward. He noted that MSCI has utilised increasingly transparent data generated from Indonesia’s capital market reforms as a new source in their assessment. “This demonstrates how our reform achievements have gained meaningful recognition, thereby further strengthening the credibility and investability of the domestic capital market,” Hasan said. Furthermore, the positive notes underscore Indonesia’s capital market achievements, which were announced in the MSCI Global Market Accessibility Review 2026 released on Thursday, 18 June 2026. “In the MSCI assessment results regarding market accessibility, Indonesia is generally one of the best-rated among Emerging Markets in the Asia-Pacific region, after China and Malaysia,” he stated.