OJK-OECD Collaboration: Responsible Digital Finance Transformation!

Bali – The Financial Services Authority (OJK) of Indonesia, in collaboration with the Organization for Economic Co-operation and Development (OECD), has forged an agreement to advance responsible digital finance transformation and innovation. This strategic partnership is meticulously designed to bolster the stability of the financial system and reinforce consumer protection.

This pivotal agreement formed the core discussion at the OECD Asia Roundtable on Digital Finance 2025, jointly hosted by OJK and OECD in Bali on Monday, December 1, 2025. The event underscored a shared commitment to navigating the evolving landscape of digital finance with prudence and foresight.

During his opening remarks, OJK Commissioner Board Chairman Mahendra Siregar highlighted the imperative for OJK, in its role of regulating and supervising financial innovation and digital assets, to remain agile and adapt to the rapid advancements in technology and the digital industry. He emphasized the critical need for regulatory frameworks that are responsive to change.

“With the accelerating pace of technological development, particularly in Artificial Intelligence (AI), it is crucial for us to exchange insights on policy approaches in our respective countries. We must strive to formulate balanced regulatory frameworks that vigorously encourage innovation while simultaneously safeguarding financial stability and consumer protection,” Mahendra asserted, outlining the dual objectives of regulatory efforts.

Detailing OJK’s proactive stance on AI development within the financial technology sector, Mahendra explained that OJK began establishing its AI governance foundation in 2023. This involved issuing the Code of Ethics Guidelines on Responsible and Trustworthy AI for the fintech sector, serving as an ethical compass to ensure AI applications remain beneficial, fair, and accountable for all stakeholders.

Further solidifying its governance framework, OJK introduced the Indonesian Banking Artificial Intelligence Governance in April 2025, specifically designed to enhance the governance and risk management of AI models within the banking sector. Beyond AI, OJK is also actively developing a comprehensive tokenization program, which stands as a central theme in the broader evolution of digital assets.

“OJK has diligently explored tokenization through its regulatory sandbox, concentrating on three key models: the tokenization of gold, bonds, and property. We are committed to fostering this innovation cautiously, ensuring a harmonious balance between technological advancement, robust consumer protection, and the overarching stability of the financial system,” Mahendra elaborated, reflecting OJK’s balanced approach.

Concurrently, Coordinating Minister for Economic Affairs Airlangga Hartarto affirmed the Indonesian government’s ongoing efforts to craft various policies. These policies aim to build a robust foundation for the effective utilization of AI and to enhance human resource competencies, ensuring the nation is well-prepared to leverage AI’s potential.

“The financial services sector must expand its AI innovation to broaden access to digital banking, microfinance, and crucial decision-making tools for Micro, Small, and Medium Enterprises (MSMEs). A myriad of adaptive innovations, aligned with digital operational standards, unequivocally demonstrates that technology delivers more efficient and inclusive solutions,” Airlangga stated, highlighting AI’s transformative impact on financial inclusion.

According to Airlangga, the OECD’s dedicated efforts in digital finance and artificial intelligence are instrumental in assisting Indonesia to modernize its regulatory frameworks and accelerate its digital transformation journey. This collaborative endeavor further underscores Indonesia’s commitment to aligning its national regulations with the esteemed international standards set by the OECD.

Asia’s Pivotal Role

In his address, OECD Director for Financial and Enterprise Affairs Carmine Di Noia expressed profound appreciation for the partnership with OJK and accentuated Asia’s indispensable role as a dynamic hub for digital financial innovation. He recognized the region’s leadership in embracing new financial technologies.

Di Noia unequivocally reaffirmed the OECD’s unwavering commitment to supporting the development of globally harmonious frameworks. Within this context, the OECD has embraced OJK as a principal partner in orchestrating the OECD Asia Roundtable on Digital Finance 2025, a collaboration that profoundly underscores the strong and synergistic relationship between the two esteemed institutions.

“Asia stands at the forefront of digital financial transformation, propelled by a vibrant fintech ecosystem and rapid technological adoption. Collaborations such as the one we witness today are paramount to ensuring that innovation thrives responsibly, fostering more efficient and inclusive markets, and ultimately strengthening public trust,” Carmine Di Noia articulated, emphasizing the region’s dynamism and the necessity of partnership.

A significant highlight of the event was the official launch of The OECD Report On Artificial Intelligence in Asia’s Financial Sector and the Code of Ethics Guidelines on Responsible and Trustworthy Artificial Intelligence (AI) in Financial Technology, overseen by OJK’s Financial Sector Technology Innovation, Digital Financial Assets, and Crypto Assets Supervision (IAKD).

These launches signify OJK’s resolute commitment to ensuring that Indonesia’s national regulations are aligned with international best practices. Indonesia is dedicated to reinforcing its digital transformation, bolstering its economic fundamentals, and deepening international cooperation through effective strategies and continuous enhancement of technological capacity.

This engagement with the OECD is also an integral component of Indonesia’s ongoing accession process to become a full member of the organization. Indonesia’s strategic standing as a G20 nation and its role as an integrated financial services supervisor further amplify the critical importance of OJK’s active participation in OECD forums.

The foundation of this robust collaboration was formalized through a Memorandum of Understanding (MoU) between OJK and the OECD, most recently updated in 2021. This comprehensive agreement encompasses diverse aspects of the financial services sector, including regulatory development, consumer protection, and the crucial strengthening of the financial system’s integrity and stability.

“The OECD Asia Roundtable on Digital Finance 2025 serves as a crucial moment to synchronize our efforts across Asian nations and OECD member countries. Through this distinguished forum, we can collectively share experiences, cultivate best practices, and construct robust policy frameworks that empower digital financial innovation to become a game-changer for economic growth and financial inclusion, while effectively managing risks in a collaborative manner,” Mahendra Siregar concluded, underscoring the roundtable’s long-term vision.

In the afternoon session, Hasan Fawzi, OJK’s Chief Executive of Financial Sector Technology Innovation, Digital Financial Assets, and Crypto Assets Supervision, delivered a compelling opening address that set the stage for discussions centered on digital assets. Fawzi provided a detailed overview of the rapid expansion of Indonesia’s digital asset market and elucidated OJK’s strategic approach to balancing innovation with effective risk management.

“As we transition to this afternoon’s session, our focus shifts to another transformative force in digital finance: digital assets. While AI reshapes the intelligence and processes underpinning financial services, digital assets fundamentally redefine the very nature of assets themselves and the infrastructure facilitating their exchange,” he clarified, drawing a clear distinction between the roles of AI and digital assets.

The first day’s proceedings concluded with insightful panel discussions covering a diverse range of topics, including policy approaches to AI in the financial sector and the delicate balance between innovation and regulation in digital assets. The event is slated to continue on the second day with an agenda focused on asset tokenization and its profound implications for market development.

The prestigious event garnered significant participation, drawing over 40 representatives from global regulators, prominent industry players, and esteemed experts in the field of digital finance, representing numerous countries worldwide, highlighting the international significance of the discussions.