Jakarta \u2013 Mukhamad Misbakhun, Chairman of Commission XI of the House\nof Representatives, stated that the schedule for the fitness and proper\ntest to select five Members of the OJK Board of Commissioners has been\naccelerated to provide market certainty and demonstrate a positive\nsignal to the market.<\/p>\n
This signal, according to him, is reinforced by the decision to set\nthe term of OJK Board Members at five years, running from 2026 to\n2031.<\/p>\n
\u201cThe timeline was originally planned by the Selection Panel (with\ninterviews scheduled for 25-26 March 2026). However, acceleration\nmeasures were subsequently taken to provide a responsive and certain\nsignal to the market, demonstrating that we are taking sufficiently\nresponsive steps,\u201d said Misbakhun during a media interview at the House\nof Representatives in Jakarta on Wednesday.<\/p>\n
Commission XI of the House of Representatives held the fitness and\nproper test of OJK Board Members for 10 candidates on Wednesday (11\nMarch), in accordance with the presidential letter transmitted to the\nHouse leadership.<\/p>\n
The fitness and proper test was conducted in a single day starting in\nthe morning. Following an internal meeting on Wednesday evening (11\nMarch), Commission XI selected five OJK Board Members: Friderica\nWidyasari Dewi as Board Chair, Hernawan Bekti Sasongko as Deputy Chair,\nHasan Fawzi as Executive Head of the Capital Markets and Derivative\nFinancing Division, Dicky Kartikoyono as Executive Head of the Fund\nManagement and Financial Stability Division, and Adi Budiarso as\nExecutive Head of the Information Technology and Implementation Support\nDivision.<\/p>\n
When asked by journalists about the reasons for Commission XI\u2019s\nselection, Misbakhun noted that Friderica, during her tenure as Acting\nBoard Chair of OJK, demonstrated a positive response to several\nfundamental issues at the OJK.<\/p>\n
Additionally, Hasan Fawzi, during his service as Acting Executive\nHead of the Capital Markets, Derivative Financing and Carbon Exchange\nSupervisory Division at OJK, was deemed capable of providing an adequate\nresponse to several capital market issues following the MSCI\nannouncement.<\/p>\n
Meanwhile, Adi Budiarso is viewed as a figure with a long career in\nthe financial sector, having contributed to various regulations\nincluding the digital asset law. He is considered to understand issues\nrelated to digital assets.<\/p>\n
\u201cThey were also able to deliver excellent presentations during the\nfitness and proper test,\u201d said Misbakhun.<\/p>\n
He assured that the selection of the five OJK Board Members was\ndecided through consensual deliberation whilst prioritising technical\nconsiderations regarding competence and professionalism.<\/p>\n
\u201cThe hope is that they can lead the OJK well. Subsequently, they can\nbring about very fundamental changes and restore public confidence in\nthe OJK, the capital market, and the financial services industry,\u201d said\nMisbakhun.<\/p>\n
For reference, on 4 March, the Selection Panel, chaired by Finance\nMinister Purbaya Yudhi Sadewa, announced 20 participants who passed the\nadministrative selection, including paper evaluation. The names of\nprospective OJK Board Members are contained in the Announcement Letter\nNumber PENG-2\/PANSEL-DKOJK\/2026.<\/p>\n
In the announcement, the Selection Panel scheduled the interview\nphase for 25-26 March 2026, following health checks on 9 March 2026 and\nan in-person assessment on 10-11 March 2026.<\/p>\n
However, the House of Representatives decided to conduct the fitness\nand proper test of OJK Board Members this week. This decision was made\nfollowing a request by House Speaker Puan Maharani for faction approval\nduring the 15th Plenary Meeting of the Fourth Session Opening of the\n2025-2026 Parliamentary Term on Tuesday (10 March).<\/p>\n
After completing the fitness and proper test on Wednesday (11 March),\nCommission XI of the House of Representatives will submit the names of\nthose deemed qualified to the House leadership for further discussion in\na plenary meeting on Thursday (12 March).<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/commission-xi-accelerate-ojk-board-member-selection-to-provide-market-certainty-1773244388", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }