The Ministry of Finance Emphasizes PMK 27/2026 to Maintain OJK Independence and Accountability

Illustration. (Photo: Dok. Antara)

JAKARTA - The Ministry of Finance confirmed that the issuance of Minister of Finance Regulation (PMK) Number 27 of 2026 concerning the Procedures for Managing the Budget of the Financial Services Authority (OJK) is a concrete step to strengthen the implementation of good governance principles in the management of financial services sector, as well as maintaining the independence of the OJK as a whole.

This regulation regulates the administrative aspects of the management of OJK's budget within the framework of the state's finances, covering the planning, reporting, and accountability processes.

The provision is administrative in nature and does not affect the OJK's authority in carrying out regulatory, supervisory, inspection, and decision-making functions.

Acting Director General of Stability and Development of the Financial Sector (DJSPSK), Herman Saheruddin, conveyed that strengthening the governance of the budget is an integral part of efforts to build the credibility of financial supervisory institutions.

"The application of the principle of good governance ensures that policy independence continues to run side by side with strong accountability. This not only maintains institutional integrity, but also strengthens public confidence in OJK and the stability of the financial sector," he said in a statement, quoted Thursday, April 30.

In addition, the regulation in PMK 27/2026 emphasizes a clear separation between policy independence and administrative accountability.

The coordination that is regulated is a form of technical coordination within the framework of the State Budget, especially to ensure consistency in the budget cycle and reporting standards, without changing the OJK's authority in determining the direction of policy.

This approach is in line with international practices, where independent financial supervisory institutions still implement integrated budget reporting and accountability mechanisms with the state financial system as part of the principles of check and balances and public transparency.

Thus, strengthening governance is actually a factor that strengthens independence, not the other way around.

In addition, the work plan and OJK budget are still prepared by the Board of Commissioners and discussed with the DPR in accordance with the provisions of laws and regulations, so that all strategic decisions remain within the authority of OJK.

He added that as an institution that manages funds sourced from levies on financial services industries as well as state budget support in certain conditions, OJK is within the framework of state financial management which demands high transparency and accountability.

This PMK provides a more orderly and standardized administrative foundation, as well as supporting the sustainability of the implementation of the OJK's functions in various conditions.

"Strong governance standards are the foundation for institutional trust and effectiveness. With a transparent and accountable administrative framework, OJK's independence is not only maintained, but is further strengthened in accordance with global best practices," he said.

Overall, PMK 27/2026 reflects the government's commitment to strengthen the governance of the national financial sector that is credible, transparent, and in line with international standards.

With this foundation, OJK is expected to be more optimal in carrying out its mandate to maintain the stability of the financial system and protect the interests of the public.