OJK Reveals the Results of the 2026 MSCI Review as a Benchmark for Strengthening the Capital Market

JAKARTA - The Financial Services Authority (OJK) emphasized that the condition of the Indonesian capital market remains maintained and the ongoing reforms will continue to be strengthened following the results of the MSCI Global Market Accessibility Review 2026 which was announced on Friday, June 19.

The Head of the Capital Market, Derivatives Finance, and Carbon Exchange Supervisory Authority of the OJK, Hasan Fawzi, conveyed that the results of the MSCI study showed that the majority of the accessibility aspects of the Indonesian market were still stable and did not experience significant changes compared to the previous year. However, there are a number of notes that are a concern for future improvements.

He explained that out of the five assessment segments which include 18 criteria, only one aspect experienced a change in assessment, namely Information Flow in the Market Infrastructure segment.

In addition, 10 criteria obtained a "++" score reflecting compliance with global best practices, six criteria received a "+" score, while two criteria, namely Information Flow and Foreign Exchange Market Liberalization Level, still received negative assessments indicating the need for improvement.

OJK assesses MSCI's input as part of a constructive evaluation and in line with the capital market reform agenda currently being carried out with the Indonesia Stock Exchange (IDX), Central Securities Depository Indonesia (KSEI), Indonesian Securities Clearing (KPEI), and all industry players.

In addition, he added that OJK also noted MSCI's recognition of a number of improvements that Indonesia has made, including a reduction in records related to the Foreign Exchange Market Liberalization Level, but the results of the assessment are still the same as last year's output, namely improvement is needed.

"As a follow-up step, we continue to carry out intensive coordination within OJK and with related authorities such as Bank Indonesia to ensure that in the future it will be better while still paying attention to risk mitigation that is governed and in line with national macroprudential policies to prevent market volatility," he explained in a statement. , Friday, June 19.

Hasan said that in recent months, various reform steps have been taken, including improving the quality of share ownership data, strengthening information disclosure, developing a beneficial ownership reporting framework, increasing trade supervision capacity, and improving regulations to support transparency and investor protection.

He added that based on feedback from market participants and global index providers such as MSCI and FTSE, various reforms that have been carried out have received acknowledgement, and have been used as variables in determining index constituents or investment portfolio policies.

As previously released in May 2026, the Global Index Provider will continue to collect feedback from local and international market participants, including mutual fund managers, brokers, and hedge funds, to validate the effectiveness and policy of the Indonesian capital market reform that has been published.

He added that OJK believes that strengthening market transparency, market integrity, and information quality are ongoing processes that require collaboration between all stakeholders.

"Therefore, the results of this review will be one of the important references in determining the priorities of future programs to further increase the confidence of domestic and international investors in the Indonesian capital market," he explained.

Looking ahead, Hasan said OJK will continue to strengthen dialogue and engagement with MSCI, FTSE Russell, and international investors to ensure that various reform policies that have been implemented can be comprehensively understood by the global investment community.

He added that Indonesia's strong economic fundamentals and the synergy of all stakeholders are an important foundation for continuing to improve the competitiveness and credibility of the Indonesian capital market.

"We view MSCI's input as part of a constructive improvement process. With the consistency of ongoing reforms, we are optimistic that the quality and competitiveness of the Indonesian capital market will continue to strengthen in the future," he explained.