{
    "success": true,
    "data": {
        "id": 1605714,
        "msgid": "five-new-ojk-board-members-appointed-for-full-term-rather-than-interim-period-1773237125",
        "date": "2026-03-11 20:15:01",
        "title": "Five New OJK Board Members Appointed for Full Term Rather Than Interim Period",
        "author": "",
        "source": "CNBC",
        "tags": "",
        "topic": "Regulation",
        "summary": "Commission XI of the Indonesian Parliament has appointed five new members to the Financial Services Authority (OJK) Board for a full five-year term from 2026 to 2031, rather than interim replacements for vacancies that arose in late January. The decision was made following fit and proper testing and was accelerated to provide market certainty and a positive signal regarding the regulatory response to recent issues.",
        "content": "<p>Commission XI of the House of Representatives has appointed five\nmembers of the Board of Commissioners (ADK) of the Financial Services\nAuthority (OJK) for the period 2026 to 2031 following fit and proper\ntesting conducted on that day. Three of these appointments will fill the\nvacant positions of Board Chair, Deputy Chair and Executive Head of\nCapital Market, Derivatives Finance and Carbon Exchange Supervision for\nthe 2022-2027 period, which have been empty since late January.<\/p>\n<p>Commission XI Chair Mukhamad Misbakhun explained that the appointment\nof the new board members was initially intended for interim succession\nbut could be structured to fill one complete new period in full. He also\nnoted that the appointment aims to provide assurance to the market.<\/p>\n<p>\u201cInterim replacement is indeed possible for us to fill in full. So\nthis decision has already been made politically, and it also provides\ncertainty to the market that we are giving this transition five years to\nconvince the market that this is the action taken in response to this\nissue,\u201d said Misbakhun following the internal meeting of Commission XI\nof the House of Representatives on Wednesday, 11 March 2026.<\/p>\n<p>He also explained why the fit and proper test results came faster\nthan the selection committee\u2019s (pansel) originally scheduled timeline of\n25-26 March 2026. Misbakhun acknowledged that the selection committee\nmade efforts to accelerate the process.<\/p>\n<p>\u201cThe pansel had originally planned that timeline but subsequently\npursued acceleration efforts. This was to provide a response and\ncertainty to the market so we could give a positive signal that we are\nimplementing safeguards and taking sufficiently responsive steps,\u201d said\nMisbakhun.<\/p>\n<p>The names of the new OJK Board of Commissioners members approved by\nCommission XI of the House of Representatives are:<\/p>\n<p>Chair: Friderica Widyasari Dewi<\/p>\n<p>Deputy Chair: Hernawan Bekti Sasongko<\/p>\n<p>Executive Head of Capital Market, Derivatives Finance and Carbon\nExchange Supervision: Hasan Fawzi<\/p>\n<p>Executive Head of Innovation Technology Supervision in the Financial\nSector, Digital Financial Assets and Crypto Assets (IAKD): Adi\nBudiarso<\/p>\n<p>Executive Head of Consumer Education and Protection: Dicky\nKartikoyono<\/p>\n<p>The five selected names are scheduled to be formally appointed by the\nHouse of Representatives in a plenary session on 12 March 2025.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/five-new-ojk-board-members-appointed-for-full-term-rather-than-interim-period-1773237125",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}