MSCI Scrutiny Prompts OJK Chief to Pledge Improved Transparency and Coordinated Trading Practices in Indonesian Capital Market

Jakarta – The Chairperson of the Board of Commissioners of the Financial Services Authority (OJK), Friderica Widyasari Dewi, has confirmed that the authority will follow up on several issues highlighted by global index provider Morgan Stanley Capital International (MSCI). These include concerns over the transparency of share ownership structures and indications of coordinated trading practices, which were noted in MSCI’s Market Classification Review released on Wednesday, 24 June 2026. The review detailed global institutional investors’ concerns regarding the investability of the Indonesian capital market. However, Kiki noted that investors still trust the resilience of the national economy and the stability of the financial services sector, as evidenced by MSCI maintaining Indonesia’s Emerging Market status. She stated that this reflects global investor confidence in the national economy’s resilience, the stability of the financial services sector, and the ongoing reform efforts to strengthen the transparency, integrity, and competitiveness of the Indonesian capital market. “We also note MSCI’s recognition of the various capital market integrity reform measures that have been implemented,” Kiki said in a statement on Wednesday. “The areas that remain under attention are part of a constructive evaluation process and will continue to be followed up together with all stakeholders,” she added. Earlier, the Chief Executive of Capital Market, Derivative Finance, and Carbon Exchange Supervision at OJK, Hasan Fawzi, said the confirmation from MSCI’s market classification results was in line with Indonesia’s expectations, and the OJK welcomed the annual assessment results positively. “For us, this MSCI announcement is a momentum to continue, strengthen, and accelerate the capital market reform agendas that we have launched since the beginning of this year,” Hasan said. “Moreover, in the Market Classification Review announcement, MSCI provided positive notes regarding Indonesia’s capital market reform agenda,” he stated. Hasan conveyed that MSCI has also acknowledged various initiatives and progress from Indonesia’s capital market reform programme, which will continue to be strengthened going forward. He mentioned that MSCI has also utilised the increasingly transparent data generated from Indonesia’s capital market reforms as a new source in their assessment.