Finance Ministry, BI, and Danantara May Become IDX Shareholders

The Ministry of Finance, Bank Indonesia (BI), and the Daya Anagata Nusantara Investment Management Agency (Danantara) may become shareholders of PT Bursa Efek Indonesia (BEI). This provision is stipulated in Article 8B paragraph (1) of the Law on Financial Sector Development and Strengthening (P2SK), the amendments to which were just ratified on 4 June 2026. “The Ministry of Finance, Bank Indonesia, and the Daya Anagata Nusantara Investment Management Agency may become shareholders of the Stock Exchange,” states Article 8B paragraph (1), according to a copy of the P2SK Law received by Antara in Jakarta on Monday. However, the ownership of shares by these state institutions must still preserve the IDX’s independence as Indonesia’s capital market authority, as set out in Article 8B paragraph (2). Article 8 paragraph (1) defines the IDX as a limited liability company established by a number of unaffiliated limited liability business entities. Paragraph (2) allows the founders of the IDX to become its Stock Exchange Members. Paragraph (3) states that IDX shareholders consist of Indonesian individuals and/or legal entities, whether Stock Exchange Members or not. “The Stock Exchange is managed professionally, with governance referring to the principles of accountability, transparency, effectiveness, efficiency, and fairness,” states Article 8 paragraph (4) of the P2SK Law. Previously, the Financial Services Authority (OJK) indicated that the IDX demutualisation process could become part of the new law. OJK Chief Executive for Capital Market, Derivatives, and Exchange Supervision Hasan Fawzi said that during a hearing with Commission XI of the House of Representatives, parliament sought to strengthen the legal basis for the exchange’s demutualisation into law.