Ahead of Annual General Meeting, Hasan Fawzi Reveals Criteria for New BEI Board of Directors
Jakarta — The Acting Head of the Capital Market, Financial Derivatives and Carbon Exchange Supervision division at the Financial Services Authority (OJK), Hasan Fawzi, has revealed various criteria for candidates to the new board of directors of PT Indonesia Stock Exchange (BEI) to be selected this year.
BEI is scheduled to hold its Annual General Meeting of Shareholders (RUPST) in June 2026, with one of the agenda items being changes to the composition of the board of directors and board of commissioners.
“There are seven directors, each with competency standards required by their respective positions. For the Chief Executive Officer, we naturally need someone with visionary and strategic thinking, strong leadership, and so on,” said Hasan, speaking after attending a fit and proper test at the DPR Commission XI, Jakarta, on Wednesday.
In addition to the Chief Executive Officer, he also outlined criteria for other director candidates who will oversee trading, listing — which relates directly to issuers — and other functions.
“Then for those heading specific divisions: there’s trading, which naturally requires expertise in trading mechanisms and operations. There’s listing, which requires expertise in processing, whether for primary market listings and such,” said Hasan.
According to him, each director will naturally have an important role for Indonesia’s capital market, in accordance with their respective expertise.
“Including those in supporting roles, they’re no less important. Administration is equally important. The Chief Financial Officer, handling finances, managing human resources, and so forth — these are also crucial,” said Hasan.
For now, he explained that the selection process will continue to follow applicable regulations, whereby the composition of directors and commissioners will be proposed by Exchange Members (AB), who are shareholders in PT BEI.
These Exchange Members have been given deadlines to establish the composition of director candidates and submit them to the OJK: for BEI’s board of directors, the deadline is 4 May 2026, whilst for PT Indonesia Clearing and Guarantee Company (KPEI)’s board of directors, the deadline is 27 April 2026.
“They must screen candidates early, identifying the best candidates who can be proposed as director and commissioner candidates. Subsequently, these are submitted to us at the OJK,” said Hasan.
From among five director candidates, he confirmed there will be representation across various constituencies, including from Exchange Members, issuers, professionals, regulators, and others.
“There is representation across these groups. Two must come from Exchange Members so they can also represent the interests of market participants, one from issuers, one from professionals, one from the regulator, and so forth,” said Hasan.