The Financial Services Authority (OJK) has officially revoked the establishment permit of the Shariah window of Manulife Indonesia, according to local news reports.
The Executive Director and Head of the Insurance, Special Audit, and Quality Control Department for Insurance, Guarantee, and Pension Funds at OJK I Wayan Wijana, stated that the revocation is a follow-up to the Shariah Unit Separation Work Plan, with the operations of the unit transferred to Manulife Indonesia Syariah.
This decision is part of Manulife’s business transformation, particularly in the development of services based on Shariah principles, which now stand independently and with a stronger focus.
In a written statement on 7 January 2026, Mr Wijana said that with the revocation of the unit's permit, Manulife Indonesia is now prohibited from conducting business activities in the takaful life sector.
Although the permit for the Shariah unit has been revoked, OJK emphasised that this measure does not affect the overall operational continuity of Manulife Indonesia.