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View all search resultsOJK mulls rule change as dormant bank accounts blocked
The PPATK announced that it had reactivated 28 million blocked dormant accounts on Thursday in response to public backlash following a meeting between PPATK head Ivan Yustiavandana and President Prabowo Subianto a day earlier.
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The Financial Services Authority (OJK) headquarters is seen in Jakarta. The agency is set to revise regulations on dormant bank accounts to restore public trust and support financial inclusion following recent controversy over blocked accounts. (Kontan/Baihaki)
T
he Financial Services Authority (OJK) plans to revise regulations governing dormant bank accounts following public outcry over the recent blocking of tens of millions of accounts by the Financial Transaction Reports and Analysis Center (PPATK). According to the agency, the revision is necessary to restore public trust in banking institutions and to promote financial inclusion.
OJK banking supervision head Dian Ediana Rae confirmed on Sunday that the agency would “immediately reorganize” how banks manage dormant accounts, without directly commenting on the PPATK’s actions.
“Soon, the OJK will reorganize bank account management to clarify the rights and obligations of banks and customers, including the management of dormant accounts,” Dian said, as reported by Kompas.com.
“This new regulation is expected to maintain the stability and integrity of the banking and financial system, allowing banks to better support Indonesia's economic growth.”
The government’s decision to block dormant bank accounts last month triggered widespread criticism, with many Indonesians voicing concern over limited access to savings, poor communication and uncertainty regarding the status of their funds.
Social media platforms and consumer forums were flooded with complaints, reflecting growing public anxiety. The backlash has prompted calls for clearer regulations and stronger consumer protections from both financial authorities and civil society groups.
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