[REVISION HISTORY]

Indonesia financial literacy and regulatory oversight

Updated 18 times since CLSTR started tracking revisions of this situation.

What changed

2026-09-23 13:34 UTC → 2026-09-25 07:58 UTC · added ~~removed~~

In September 2026, Indonesia’s Financial Services Authority (OJK) expanded its literacy efforts by launching ‘2026 Pension Fund Month’ in Jakarta, Bandung, and Semarang to address a pension literacy gap of 22.21% against a national rate of 69.57%. OJK Chairperson Friderica Widyasari Dewi emphasized the need for industry synergy as the workforce shifts toward informal sectors. To boost inclusion, OJK Chief Executive of Banking Supervision Dian Ediana Rae supported a government program for mass bank account openings, though the OJK maintained that banks must adhere to mandatory Know Your Customer (KYC) procedures. This mass opening program, targeting 200 million citizens, has faced scrutiny over its Rp11 trillion budget. Parallel to these efforts, the OJK is drafting regulatory revisions to POJK Number 27/2023 to allow pension funds to invest in international markets, a move supported by the Indonesian Pension Fund Association (ADPI) provided robust risk management is maintained. ~~OJK has since intensified regional literacy efforts, launching~~ On September 23, 2026, the ~~National Smart Financial Movement (GENCARKAN)~~ OJK formalized this by permitting pension funds to invest up to 20% of their total portfolios in ~~Bantaeng~~ foreign markets to ~~combat illegal investments. In South and West Sulawesi, the Inclusive Financial Ecosystem (EKI) and Red and White Fisherman Village (KNMP) programs~~ diversify options when domestic returns are ~~targeting coastal communities~~ limited, subject to ~~improve digital transaction skills~~ strict supervision. Further regulatory updates include Regulation Number 12 of 2026, which introduces Asset-Backed Securities in the form of Participation Certificates (EBA-SP) to support the ‘3 Million Houses Program’ through secondary financing. Additionally, Regulation Number 9 of 2026 mandates incidental reporting for capital markets, derivative finance, and ~~risk assessment~~ carbon exchanges via an integrated digital system. The OJK is also drafting amendments to Regulation Number 41 of 2024 to allow Microfinance Institutions (LKM) to perform write-offs for ~~fluctuating incomes.~~ managing non-performing loans. Regarding fiscal shifts, Finance Minister Suahasil Nazara inaugurated 14 high-ranking officials within the Ministry of Finance and the Financial System Stability Committee (KSSK) on September 20, 2026. Nazara directed the Directorate General of Taxes to better analyze taxpayer behavior and the Directorate General of Customs and Excise to implement risk-based supervision. Additionally, the government has completed the repayment of all debt instruments related to the 1997-1998 financial crisis, including the finalization of approximately Rp640 trillion in debt and BLBI-related obligations funded by Bank Indonesia surpluses.

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