Purbaya Issues New OJK Budget Regulations, Independence Remains Intact!
Jakarta, CNBC Indonesia - Finance Minister Purbaya Yudhi Sadewa has established specific provisions regulating the management of the Financial Services Authority (OJK)’s budget. These provisions are set forth in Ministerial Regulation on Finance (PMK) Number 27 of 2026, effective from 24 April 2026.
The regulation covers administrative aspects of OJK’s budget management within the state financial framework, including planning, reporting, and accountability.
Acting Director General of Financial Sector Stability and Development (DJSPSK), Herman Saheruddin, stated that strengthening budget governance is an integral part of efforts to build the credibility of the financial supervisory institution.
“The application of good governance principles ensures that policy independence continues alongside strong accountability. This not only safeguards institutional integrity but also strengthens public confidence in OJK and the stability of the financial sector,” Herman said in an official statement quoted on Thursday (30/4/2026).
The regulation emphasises a clear separation between policy independence and administrative accountability. The coordination outlined is a form of technical alignment within the State Budget (APBN) framework, particularly to ensure consistency in the budget cycle and reporting standards, without changing OJK’s authority in determining policy direction.
Herman explained that this approach aligns with international practices. Independent financial supervisory institutions still implement reporting and accountability mechanisms for budgets integrated with the national financial system as part of check and balances principles and public transparency.
“Thus, strengthening governance actually serves as a factor that reinforces independence, rather than the opposite. OJK’s work plans and budget are still prepared by the Board of Commissioners and discussed with the House of Representatives (DPR) in accordance with applicable laws and regulations,” he said.
As an institution managing funds sourced from financial services industry levies and APBN support in certain conditions, OJK operates within the state financial management framework that demands transparency and accountability.
“Strong governance standards are the foundation for trust and institutional effectiveness. With a transparent and accountable administrative framework, OJK’s independence is not only maintained but further strengthened in accordance with global best practices,” Herman Saheruddin continued.