Purbaya Optimistic that the Financial Sector Strengthening and Development Law will Boost the Competitiveness of the Financial Sector and Indonesia's Economic Growth
Finance Minister, Purbaya Yudhi Sadewa, has expressed his appreciation for the Indonesian House of Representatives’ approval of the Bill on amendments to Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (P2SK Bill), which has now officially become the P2SK Law.
He stated that the 17 key provisions contained in the P2SK Law are very important to create a financial sector that is internationally competitive, stable, and has good governance.
He believes that this will also help the government in encouraging national economic growth as directed by President Prabowo Subianto within the Asta Cita framework.
“Where these 17 topics are very important to encourage inclusive national economic growth,” said Purbaya at a Plenary Session at the Indonesian House of Representatives, Senayan, Jakarta, Thursday, June 4, 2026.
In addition, Purbaya is also optimistic that the P2SK Law will be a breakthrough to support a healthy financial sector, in order to support the national economy so that it can grow higher and sustainably.
He also praised the parliament, which he said had established good coordination and intensive discussions with the government in the process of formulating the P2SK Law.
“To then agree on various improvements to strengthen the substance of the rules, and ensure compatibility with the needs of the national financial sector,” said Purbaya.
In the future, Purbaya affirmed that the government’s efforts to reform the financial sector, which have been initiated by the P2SK Law, will continue to be accelerated to achieve the goal of higher and sustainable economic growth.
“For the sake of realizing the ideals of Indonesian development,” he said.
Here are the 17 main points of content and arrangements contained in the P2SK Law:
The institution of the Deposit Insurance Corporation (LPS)
The institution of the Financial Services Authority (OJK)
The institution of Bank Indonesia (BI)
Evaluation of the performance of LPS, OJK and BI by the DPR
Scope of Expansion of Banking and Islamic Banking Business
Demutualization of the Stock Exchange in the Capital Market
Transfer of Margins in Transactions in the Financial Market
Inter-company Bonds
Insurance and Islamic Insurance Companies in Resolution
Mandatory Accident Insurance Fund