OJK Releases Two Special Strategies for Indonesia's Capital Market, Here is the Full Content

Jakarta, CNBC Indonesia - The Financial Services Authority (OJK) has issued two strategic roadmaps, namely the Roadmap for the Development of Derivatives Markets Based on Capital Market Instruments 2026-2030 and the Indonesia Sustainable Capital Market Roadmap 2026-2030.

These roadmaps represent steps to strengthen financial market depth, enhance investor protection, and encourage sustainable funding and investment to support national economic growth.

“The issuance of these two roadmaps reaffirms OJK’s commitment to building an inclusive, efficient, and competitive financial services sector, while supporting the achievement of national development targets, including Indonesia’s net zero emissions target by 2060 or earlier, as well as the mandate of Law No. 4 of 2023 on the Development and Strengthening of the Financial Sector (UU P2SK),” wrote Agus Firmansyah, Head of the Department of Surveillance and Integrated Financial Services Sector Policy at OJK, in a written statement on Tuesday (14/4/2026).

He explained that in strengthening the derivatives market, OJK establishes the direction for developing a liquid, efficient, credible, and integrity-driven derivatives market, capable of serving as a key instrument in risk management and financial market deepening.

This roadmap is structured based on four main pillars. Pillar I concerns strengthening investor protection, which includes developing an integrated framework for classifying retail and professional investors with single investor identification, harmonising know your customer standards, limiting leverage for retail investors, implementing negative balance protection, strengthening customer asset segregation, and developing an investor protection fund.

Then, Pillar II relates to harmonisation and supervision of intermediaries, directed towards aligning licensing, governance standards, and capital requirements for all intermediaries within the OJK framework, accompanied by strengthened risk management, reporting obligations, and enhanced human resource capacity through derivatives certification and ongoing professional development.

Next, Pillar III concerns market development, aimed at expanding the variety of derivatives products and increasing market participation, particularly from institutional investors, through the development of new derivatives contracts, both exchange-traded and standardised over-the-counter, as well as strengthening market liquidity through a liquidity provider framework and facilitating cross-market participation.

Meanwhile, Pillar IV concerns infrastructure efficiency, to promote the strengthening of exchange and clearing house structures to make them more efficient and internationally recognised, including through the implementation of IOSCO/PFMI standards, capacity building towards Qualifying CCP, and the development of an integrated cross-asset collateral management framework in line with international standards.

All these pillars are implemented with the support of enablers, including cross-stakeholder coordination, strengthened regulation and licensing, improved supervision and reporting, and socialisation and education carried out in stages in the short, medium, and long term.

Meanwhile, through the Indonesia Sustainable Capital Market Roadmap 2026-2030, OJK strengthens the role of the capital market as a driver of sustainable funding and investment based on environmental, social, and governance (ESG) principles.

This roadmap is structured based on four main pillars, namely Pillar I concerning strengthening the foundation of sustainable capital markets, through the formulation of basic policies and regulations for sustainable capital markets.

Next, Pillar II concerns nurturing sustainable capital market activities, with efforts to accelerate growth and diversification of sustainable capital market products and activities.

Then, Pillar III involves encouraging participation in sustainable capital markets, through the provision of appropriate support tools and incentives to increase market participants’ confidence in actively participating in sustainable capital markets.

Finally, Pillar IV aims to strengthen collaboration for the development of sustainable capital markets, through coordination and cooperation both domestically and internationally to support the ongoing development and growth of sustainable capital markets in Indonesia.

He revealed that Indonesia’s capital market already has various sustainable funding and investment products. As of December 2025, the total accumulation of sustainable bond and sukuk issuances has reached Rp74.14 trillion or equivalent to US$4.43 billion, with a composition of environmental (green) themes at 42.72%, social at 28.82%, sustainability at 26.44%, and sustainability-linked at 2.02%.

Through the implementation of this roadmap, it is hoped that the accumulation of sustainable bond and sukuk issuances can increase, projected to grow at an average of 55.11% per year.

Meanwhile, ESG-based mutual fund investment products are also present in Indonesia’s capital market with Assets Under Management (AUM) value reaching Rp9.98 trillion or equivalent to US$596.96 million as of December 2025, dominated by index mutual funds at 52.88%, followed by fixed income mutual funds at 18.21% and exchange traded funds (ETFs) at 17.46%.

ESG-based mutual fund products through this roadmap are projected to grow at an average of 14.36% per year.

Through these two roadmaps, OJK hopes to create strong synergies between the development of financial instruments, enhanced investor protection, and strengthened sustainable funding and investment.