Purbaya and DPR Agree on P2SK Bill: Full Changes Regarding OJK Revealed!
The Government and Commission XI of the House of Representatives (DPR) have agreed on the first-level discussions regarding the Draft Law on the Development and Strengthening of the Financial Sector (RUU P2SK) on Wednesday (3/6/2026).
Significant changes are set to occur within the institutional framework of the Financial Services Authority (OJK), as stated by Finance Minister Purbaya Yudhi Sadewa during a working meeting with Commission XI of the DPR RI.
“The strengthening of OJK includes the addition of duties in regulating and supervising activities within the capital market sector, derivative finance, carbon exchanges, as well as mineral and strategic commodity exchanges,” said Purbaya.
The details are as follows:
The strengthening of OJK includes additional duties in regulating and supervising activities in the capital market sector, derivative finance, carbon exchanges, and mineral and strategic commodity exchanges.
OJK is tasked with the regulation and supervision of other public funds, including Hajj financial funds and public housing savings, in accordance with statutory provisions.
Adjustments to OJK’s authority regarding crypto assets, alongside additional powers to establish further regulations and policies for the financial services industry that may directly impact risks or benefits to the public and potentially affect financial system stability.
Regarding institutional aspects, improvements to the OJK Board of Commissioners (DK) include the addition of an Executive Head for the supervision of mineral and strategic commodity exchanges, as well as updates to selection committees, requirements, candidates, dismissal procedures for members, and committee structures.
The strengthening of OJK’s governance will also be implemented through legal protection for members of the Board, officials, and employees of OJK; the authority of the Board to represent OJK in and out of court, which may be delegated to officials; regulations regarding annual budget standards for OJK’s operational activities; mechanisms for changing work plans during the current year; regulations on OJK’s periods and levies; and increased authority in managing OJK’s assets, including the implementation of write-offs and debt cancellations.
To strengthen inter-authority coordination, the Government and the DPR have also agreed that OJK and the Indonesia Deposit Insurance Corporation (LPS) must report the condition of problematic banks and insurance companies to the LPS, including initiatives for education and environmental oversight.