OJK Levies on Banks and Others Reach Rp8 Trillion Annually, DPR Wants Them Abolished!

Jakarta, CNBC Indonesia - The House of Representatives (DPR) is planning to abolish the authority of the Financial Services Authority (OJK) to collect levies or contributions from the financial services industry through new regulations to be established in the revision of Law Number 4 of 2023 on the Development and Strengthening of the Financial Sector (UU P2SK).

The reason is to avoid potential conflicts of interest in OJK’s role as the supervisor of the financial services industry.

“We hope that OJK has independence. How can it supervise and also collect the levies? There is no independence there, as we see it. It is fraught with interests,” said Deputy Chairman of Commission XI of the DPR RI, Fauzi Amro, when met at the DPR RI building in Jakarta, quoted on Tuesday (7/4/2026).

To date, levies from the financial services industry have been OJK’s main source of income.

Referring to OJK’s 2024 Annual Financial Report, which has been audited by the Financial Audit Board, levy income as of 31 December 2024 reached Rp8.37 trillion, up from the previous record of Rp8.12 trillion as of 31 December 2023.

The 2024 levy income realisation exceeded its target of Rp8.07 trillion. Not surprisingly, for 2025, OJK has again raised its levy revenue target to Rp8.52 trillion, although the realisation has not been disclosed due to the absence of the 2025 OJK Annual Report publication.

As a replacement for these levies, the DPR is proposing that OJK’s revenue come from surpluses of Bank Indonesia (BI) and the Deposit Insurance Corporation (LPS).

“Well, the idea from colleagues is, for example, how about we propose that the levies be taken from BI surpluses and LPS surpluses. BI surplus is about Rp78 trillion, LPS surplus is about Rp42 trillion. So combined, it’s almost Rp115 to Rp120 trillion,” he explained.

He stated that to date, such surplus budgets have entered the State Budget (APBN), which is in the nature of non-tax state revenue (PNBP). However, this could pose problems for other sectors.

“But we already know that if in the course of financing, OJK’s funding source is truly from BI and LPS surpluses, we hope this institution will be independent. But this is just a proposal,” he added.

Meanwhile, OJK Commissioner Chairman Friderica Widyasari Dewi said that in carrying out OJK’s functions and roles, substantial funding is required. This budget will be used for IT development, systems, and various programmes that are very important for the financial services sector.

“So far, it hasn’t been done freely due to very limited funding. Going forward, we respect the various proposals that exist, but the bottom line is that the decision is not up to us,” she said.

OJK supports the best decision to enable the institution to carry out its operations. “For example, we don’t even have our own building and so on, but for physical things, we can still manage. Currently, that’s not our focus. But for operations, supervision, regulation, and so on, it is still very limited,” Friderica emphasised.

“So, independence in terms of how we regulate, supervise, and so on, but we must not stand outside the interests of the state and society. I think we must work together,” she concluded.