INDONESIA: The Financial Services Authority, or Otoritas Jasa Keuangan (OJK), announced new measures to strengthen the national Shariah financial ecosystem across banking, capital markets, insurance and fintech sectors during the Indonesia Islamic Finance Summit 2025 in Surabaya. OJK unveiled new Shariah product guidelines for Salam, Istisna and Multijasa contracts, complementing existing frameworks such as cash Waqf linked deposit and Shariah restricted investment accounts. The regulator also highlighted the formation of the Shariah financial development committee to coordinate policy implementation and sectoral collaboration. In addition, OJK held workshops on regional Sukuk issuances and the development of Shariah-based venture capital and digital finance including blockchain and crypto asset applications.
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