New Regulation on OJK Budget Issued, Ministry of Finance Ensures It Does Not Interfere with Independence

JAKARTA, KOMPAS.com - Finance Minister Purbaya Yudhi Sadewa has issued Ministerial Regulation (PMK) Number 27 of 2026, which regulates the governance of the Financial Services Authority (OJK) budget. The Ministry of Finance states that this policy aims to strengthen accountability and transparency in OJK’s budget management, while ensuring that good governance principles operate optimally. The regulation is affirmed not to interfere with the independence of this financial sector supervisory institution. Acting Director General of Financial Sector Stability and Development, Herman Saheruddin, stated that strengthening budget governance is an important part of maintaining the institution’s credibility. “The application of good governance principles ensures that policy independence continues to run alongside strong accountability. This not only safeguards institutional integrity but also strengthens public trust in OJK and the stability of the financial sector,” he said, as quoted on Friday (1/5/2026). However, the regulation is procedural in nature and does not touch on OJK’s authority in carrying out its main functions such as regulation, supervision, or decision-making. He emphasised a clear separation between policy independence and administrative accountability. The coordination regulated in this PMK is limited to technical alignment within the framework of the State Revenue and Expenditure Budget (APBN). “The regulation is procedural and does not touch on OJK’s authority in carrying out regulatory, supervisory, examination, or decision-making functions,” he clarified.