REPUBLIKA.CO.ID, JAKARTA — The Financial Services Authority (OJK), together with the Indonesia Stock Exchange (BEI) and other self-regulatory organizations (SROs), held a meeting with the Morgan Stanley Capital International (MSCI) analyst team on Monday (Feb. 2, 2026). OJK said the meeting proceeded smoothly and expressed confidence that it would lead to improvements in Indonesia’s capital markets going forward.

“The concerns raised by MSCI are broadly aligned with several of the eight action plans we have put forward, particularly those related to transparency, disclosure of ultimate beneficial ownership, and liquidity measures to encourage higher free float as a new policy in our capital markets,” said Hasan Fawzi, Deputy Chief Executive Officer of OJK overseeing Capital Markets, Derivatives Finance, and the Carbon Exchange, after the meeting at the BEI Building in Jakarta, which was also attended by BPI Danantara.

Hasan said OJK, together with BEI and other SROs, presented solution proposals that in principle addressed all of the concerns and issues currently facing Indonesia’s capital markets.

“We already have a plan to address these issues, including enhanced disclosure of shareholdings below 5 percent. We are committed to implementing disclosures for shareholdings of even above 1 percent,” he said.

He added that authorities also plan to provide greater granularity in the classification of investors based on data managed by the Indonesian Central Securities Depository (KSEI).

“At present, investor data is categorized into only nine main types. Going forward, this will be expanded into 27 investor subtypes, which will further clarify and strengthen the credibility of beneficial ownership and related disclosures,” Hasan said.

Another proposal discussed involved increasing the free float requirement, or the proportion of a company’s shares available for public trading.

“We have submitted proposals to raise the free float threshold from the current minimum of 7.5 percent to 15 percent. This will be implemented gradually and in coordination with all market participants,” he said.

Hasan emphasized that the several-hour meeting with MSCI analysts went smoothly and that discussions would continue at a more technical level.

“The discussions were very constructive, and we agreed to resume them at the technical level. MSCI has even indicated its readiness to provide guidance on its methodology and calculation approach,” he said.

Hasan also assured that OJK would continue to update the public on coordination efforts as part of its commitment to transparency.

“We hope this represents positive progress. In due course, following the final evaluation, we expect to receive confirmation of acceptance,” he said

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