OJK Eyes Stronger Growth for Indonesia’s Sharia PVML Sector

RRI.CO.ID, Jakarta - Indonesia’s sharia-compliant PVML industry -- comprising Financing Institutions, Venture Capital Firms, Microfinance Institutions, and Other Financial Services Institutions -- continues to show considerable growth potential. To strengthen the sector, the Financial Services Authority (OJK) is preparing a new roadmap.

Executive Director of PVML Supervision at OJK and Member of the OJK Board of Commissioners, Agusman, said OJK is finalizing the roadmap for strengthening the sharia PVML sector. “We will launch it in the near future,” he said in a statement in Lombok, West Nusa Tenggara, on Saturday, August 29, 2026, as quoted by Antara.

OJK data shows that total PVML industry assets as of July reached IDR 1,157.74 trillion. Conventional PVML assets amounted to IDR 1,022.85 trillion, while sharia PVML assets stood at IDR 134.89 trillion.

With this composition, the sharia segment contributed around 11.7 percent of total industry assets, while the conventional segment accounted for about 88.3 percent.

A similar gap appears in financing disbursements. Of the total IDR 1,064.25 trillion, conventional financing reached IDR 939.04 trillion, while sharia financing amounted to IDR 125.21 trillion, or roughly 11.8 percent.

The number of industry players also reflects the conventional segment's dominance. Of 749 PVML players, 650 operate conventionally, and 99 are sharia-based, meaning the sharia segment represents about 13.2 percent of total players.

According to Agusman, industry players have urged OJK to develop a roadmap to accelerate the growth of sharia PVML. This input has shaped the direction of the upcoming policy.

The roadmap is expected to provide clearer guidance for industry players, support the expansion of sharia PVML, and increase its contribution to the PVML industry overall.

Meanwhile, PVML financing for MSMEs still accounts for 30.93 percent of total disbursements, valued at IDR 338.6 trillion. ***