Financial practitioners urge new OJK Board to remain free from interference
Jakarta — Financial consultant and certified financial planner Elvi Diana has urged the newly appointed members of the Financial Services Authority (OJK) Board of Commissioners to maintain the institution free from interference by any party to ensure the OJK continues operating independently.
She emphasised that interference can reduce the effectiveness of financial services sector oversight and the strengthening of national financial system stability conducted by the institution.
“The OJK must be clean from interference by any party, whether from DPR politicians or from those with interests in the financial and investment industry,” said Elvi Diana in a formal statement received in Jakarta on Tuesday.
She stated that regulator independence is an important factor to ensure financial services sector oversight can operate objectively, professionally, and in the public interest.
She also reminded the House of Representatives, particularly Commission XI which oversees the financial sector, national development planning, monetary matters, and financial services, to consistently monitor and supervise the performance of the new OJK Board members whom they have selected and appointed.
According to her, parliamentary oversight is important not only to maintain financial system stability, but also to strengthen financial education and literacy among the public.
Although the OJK has already achieved several breakthroughs, Elvi urged the new OJK Board members to work harder to enforce oversight and create appropriate policies.
She emphasised that law enforcement against problematic investors must be conducted firmly and swiftly, given that there are still financial industry criminals who have fled abroad and become fugitives, and thus cannot yet be punished by the government.
To prevent similar cases from recurring, she stated that the OJK must conduct crime prevention in the financial industry rather than imposing punishment after criminal acts occur, as the institution is not like a fire department that can only act after a fire breaks out.
Elvi also reminded the OJK to increase Islamic financial inclusion through policy strengthening so that it can be more widely accepted by the public who are already accustomed to conventional financial products.
“And the OJK must also concern itself with financial literacy and education for Indonesian society, of which 60 per cent still do not understand the function and role of the OJK,” she said.
The 16th Plenary Meeting of the Fourth Session of the 2025–2026 Parliamentary Year of the House of Representatives at parliament complex in Senayan, Jakarta on Thursday (12 March) approved five members of the Financial Services Authority Board of Commissioners for the 2026–2031 period.
Friderica Widyasari Dewi was elected as Chairman of the OJK Board of Commissioners and Hernawan Bekti Sasongko as deputy chairman.
Meanwhile, Hasan Fawzi was elected as Executive Head for Capital Market, Derivatives, and Carbon Exchange Oversight; Dicky Kartikoyono as Executive Head for Conduct of Financial Services Business Operators, Education, and Consumer Protection; and Adi Budiarso as Executive Head for Financial Sector Technology Innovation, Digital Financial Assets, and Crypto Assets Oversight.