Prabowo Reportedly Furious Over OJK's Silence on MSCI Letters

February 12, 2026 | 05:06 pm

TEMPO.CO, Jakarta - The Financial Services Authority (OJK) is following up on reports that Morgan Stanley Capital International (MSCI) sent four separate letters to Indonesian authorities. 

"I just heard about it myself, but we will try to investigate what he (Hashim Djojohadikusumo) meant," said Hasan Fawzi, a member of the OJK Board of Commissioners who recently replaced the Executive Head of Capital Market, Derivatives, and Carbon Exchange Supervision, in an interview at the Indonesia Stock Exchange (IDX) building in Jakarta on Wednesday, February 11, 2026, as reported by Antara.

During the ASEAN Climate Forum (ACF) at the IDX building yesterday, the Special Envoy to the President for Energy and Environment, Hashim Djojohadikusumo, stated that the global index provider had sent as many as four letters to the Indonesian government. "Apparently, Morgan Stanley sent four letters to the Indonesian government," Hashim remarked.

The previous day, at the China Conference Southeast Asia on Tuesday, February 10, 2026, Hashim revealed that the Prabowo Subianto administration's frustration with capital market officials stemmed from these unresponsive letters. "What really made the government very angry—angry at its own officials—is that MSCI has sent four letters," he said.

Because four letters had been dispatched, Hashim argued that MSCI’s recent announcement should not have come as a surprise to the public. "People say it's surprising. It shouldn't be," he said.

In response, Hasan confirmed that the OJK and Self-Regulatory Organizations (SRO) have been in intensive communication with MSCI over the past one to two weeks. "The point is, my colleagues are aware of that for the last week or two, we have been intensively following up on communications, even reaching an agreement with MSCI that has been proven," he added.

Regarding the claims that Indonesian capital market authorities failed to respond to MSCI's letters, Hasan stated he was unaware of the details. "I don't know exactly. But what is certain is that the expected follow-up is already underway at this stage."

Meanwhile, the Acting President Director of the IDX, Jeffrey Hendrik, confirmed that no letters were sent by MSCI to the exchange or other capital market authorities. "There were no letters to the regulators or to us. We are also monitoring the public disclosures. If there were letters sent directly to the government, of course, we would not know," he said.

Jeffrey stated that the primary issue is not the existence of the letters themselves. Instead, he revealed there was an internal directive for the IDX to respond to MSCI's announcements as swiftly as possible. "The directive from Pak Hashim (Djojohadikusumo) was very clear. Those of us who have just taken office must act as soon as possible, and we are doing that," Jeffrey said.

Read: Indonesia to Clarify Economic Conditions on Friday Amid Market Scrutiny

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