Over the years, Indonesia’s banks and financial markets have shown remarkable performance, notwithstanding the devastating economic contraction that occurred during the 1997-1998 Asian financial crisis. The solid pace of growth of the Indonesia financial sector has attracted global investors . Today, Indonesia is the fourth most populous nation and 10th largest economy in terms of purchasing power parity (World Bank 2022). Latest evidence shows that Indonesia’s financial market conditions have experienced significant development. This paper explores the recent state of Indonesia's financial system as a whole by examining most recent data. It shows that Indonesia's money market have low liquidity and lack of pricing information due to the absent of secondary market for some money market instruments. Moreover, the Indonesian financial system is dominated by banks, owning slightly over 76% of the total assets of financial institutions. The banking industry is fairly concentrated, with six largest banks holding 61% of the total banking assets.