INDONESIA: The Financial Services Authority, or Otoritas Jasa Keuangan (OJK), has issued two new regulations affecting Islamic finance-linked digital assets and microfinance institutions, aimed at strengthening supervision and market integrity. Under POJK 23 of 2025, OJK expanded the scope of digital financial assets to include crypto derivatives, imposed stricter exchange approvals, margin requirements and consumer knowledge tests with implications for Shariah compliant digital investment platforms. Separately, POJK 25 of 2025 grants microfinance institutions additional time to meet equity-to-paid-up capital ratio requirements, easing pressure on Shariah compliant microfinance institutions affected by slowing economic conditions. OJK said both reforms are intended to reinforce prudential oversight, consumer protection and financial system stability.
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