Financial Sector Development and Strengthening Act

UU Pengembangan dan Penguatan Sektor Keuangan
House of Representatives
  • Undang-Undang Nomor 4 Tahun 2023 tentang Pengembangan dan Penguatan Sektor Keuangan
    (Law No. 4 of 2023 on Financial Sector Development and Strengthening)
CitationLaw No. 4/2023
Territorial extentIndonesia
Passed byHouse of Representatives
Passed15 December 2022
Commenced12 January 2023
Legislative history
Bill titleRUU Pengembangan dan Penguatan Sektor Keuangan (Bill on Financial Sector Development and Strengthening)
Introduced byGovernment of Indonesia
Status: In force
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The Financial Sector Development and Strengthening Act is an act of parliament in the form of omnibus law to develop and strengthen the Indonesian financial sector. It is proposed by the Joko Widodo administration. The law was passed by the House of Representatives on December 15, 2022.

Unlike the previous omnibus laws proposed by the Joko Widodo administration such as Omnibus Law on Job Creation, Law on State Capital, and 2023 Indonesian Criminal Code, this law is the first omnibus law made under mechanisms prescribed in the Law Formulation Act.

When the law passed, Indonesia is expected to underwent a national economy transition for the next 5 years.

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