April 15, 2026 | 10:15 am
TEMPO.CO, Jakarta - A closed-door meeting of the working committee tasked with revising Law No. 4/2023 on Financial Sector Development and Strengthening (P2SK) on Wednesday afternoon, April 8, 2026, lasted less than an hour. Although the House of Representatives (DPR) had initially targeted the revision to be completed and passed at a plenary session the following day, Thursday, April 9, the meeting ultimately concluded that deliberations were not yet finished.
“We are waiting for a new schedule from the government,” said House Commission XI Chair Mukhamad Misbakhun, after the meeting at the DPR complex in Senayan, Jakarta. The session, which was supposed to finalize decisions, ended without any resolution, even though intensive discussions had been underway for the past two weeks.
Commission XI, which oversees finance and banking, along with the government, recorded 1,123 items in the problem inventory list (DIM) reviewed by the working committee during the revision process. Of these, 751 items concern the main body of the law, while the remaining 372 relate to its explanatory sections.
Herman Saheruddin, a special staff member to the Finance Minister, said a week earlier that deliberations on the P2SK revision had reached 95 percent completion. “The discussions proceed in line with the latest developments, including global geopolitical dynamics,” he said on Thursday, April 2. The revision focuses on transparency and market stability in Indonesia’s financial sector, which is considered in need of strengthening to face various challenges.
Several lawmakers said the deliberations remained contentious until the final stage. At least 51 points remained unresolved as of the Wednesday meeting. The key issue slowing the process was a proposal to change the source of funding for the Financial Services Authority (OJK). One idea is that OJK’s income would be fully sourced from the State Budget, or government financing. This proposal first emerged from the House on the grounds of preserving OJK’s independence in regulating and supervising the financial services industry.
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