OJK Pledges to Accelerate Capital Market Reform Following MSCI Review

The Financial Services Authority (OJK) has confirmed it will continue capital market reforms after MSCI provided several notes regarding transparency and information flow in Indonesia’s capital market. This step is considered important to enhance market integrity while maintaining investor confidence.

Hasan Fawzi, Chief Executive of Capital Market, Derivative Finance, and Carbon Exchange Supervision at OJK, stated that the notes conveyed by MSCI serve as important input for the regulator to continue strengthening various improvements in the capital market sector.

According to Hasan, OJK, together with the Indonesia Stock Exchange (BEI) and Self Regulatory Organizations (SRO), has undertaken various initiatives to improve governance quality, transparency, and investor protection in Indonesia’s capital market.

“OJK will continue capital market reforms to enhance the integrity, transparency, and global competitiveness of Indonesia’s capital market,” Hasan said on Friday (19/6/2026).

MSCI previously maintained Indonesia in the emerging market group. However, the global index provider highlighted several aspects that still require improvement, particularly concerning the transparency of shareholding structures, the quality of information flow, and market transparency.

Hasan said the regulator has implemented various corrective measures, including strengthening issuer disclosure, improving the disclosure of ultimate beneficial owners (UBO), and enhancing supervision of stock trading activities.

Jeffrey Hendrik, President Director of the Indonesia Stock Exchange, said the exchange will also continue to communicate with MSCI to gain a more detailed understanding of the aspects that are of concern to the institution.