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Collaboration In Focus: OJK And Industry Forge Path For 2026 Financial Landscape
The dialogue emphasized a two-way conversation, with OJK leadership actively seeking industry feedback to shape effective and practical regulations for the coming year. ()
Jakarta — The Indonesian Financial Services Authority's (OJK) annual Year-End Dialogue concluded with a powerful emphasis on collaborative governance. More than a regulatory briefing, the two-day event was framed as a critical listening exercise for the authority to gather insights and feedback directly from the leaders of banks, insurers, capital market players, and fintech companies. This partnership-oriented approach, championed by Chairman Mahendra Siregar and Vice Chairman Mirza Adityaswara, aims to ensure that the policies shaping the 2026 financial landscape are both ambitious and pragmatically grounded in industry realities.
The forum served as a primary channel for OJK to clarify policies and address industry concerns directly. A prime example was Chairman Siregar's definitive clarification on lending to debtors with prior credit issues, explicitly stating that no OJK rule forbids such lending for small-value, non-systemic loans. This direct engagement helps eliminate operational ambiguities and aligns regulator and industry understanding, smoothing the path for implementing strategic priorities like MSME financing.
Central to the collaborative agenda is the rollout of POJK 19/2025 on MSME financing. Rather than a unilateral decree, OJK presented its implementation as a shared mission. The authority committed to monitoring the business plans of financial institutions, but the dialogue also provided a space for institutions to voice practical challenges and solutions in serving the MSME segment. This collaborative oversight model is designed to achieve the regulation's goal through partnership rather than mere enforcement.
The twin themes of digitalization and cybersecurity were also addressed through a cooperative lens. While OJK mandated the digital transformation of financial services, it concurrently called for industry-wide vigilance on data security. The dialogue implicitly recognized that building a secure digital ecosystem is a collective responsibility requiring shared standards, best-practice exchanges, and joint investments in security infrastructure, benefiting the entire sector's reputation and stability.
The event's segmented agenda—with dedicated sessions for banking, capital markets, insurance, and fintech—facilitated targeted collaboration. This structure allowed for nuanced conversations where a commercial bank's concerns about lending could be addressed separately from a fintech company's questions about digital asset regulation, ensuring relevant and productive dialogue for each sub-sector.
Parallel discussions on consumer protection (PEPK) and governance, led by the respective chiefs of those units, further highlighted the multifaceted nature of the regulator-industry partnership. Building a trustworthy financial system requires collaboration not only on commercial and technological fronts but also on upholding ethical conduct and educating consumers, areas where industry initiative is crucial.
This collaborative spirit is nurtured within a context of proven sectoral resilience. OJK's earlier assessments have noted the financial system's stability amidst global challenges, supported by strong domestic fundamentals. This existing strength provides a solid foundation upon which both regulator and industry can confidently build more ambitious, inclusive, and innovative projects for the future.
Vice Chairman Mirza Adityaswara's closing remarks perfectly captured the event's ethos. He expressed genuine gratitude for the industry's ideas and assured participants that OJK would diligently evaluate which suggestions could be translated into concrete policy actions. The 2025 Year-End Dialogue thus established a template for 2026: a year of sustained partnership where the Indonesian financial sector's growth and transformation will be steered by continuous dialogue between its regulator and its practitioners.
(Bassam Raza)
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