Five New OJK Board Members Appointed for Full Term Rather Than Interim Period

Commission XI of the House of Representatives has appointed five members of the Board of Commissioners (ADK) of the Financial Services Authority (OJK) for the period 2026 to 2031 following fit and proper testing conducted on that day. Three of these appointments will fill the vacant positions of Board Chair, Deputy Chair and Executive Head of Capital Market, Derivatives Finance and Carbon Exchange Supervision for the 2022-2027 period, which have been empty since late January.

Commission XI Chair Mukhamad Misbakhun explained that the appointment of the new board members was initially intended for interim succession but could be structured to fill one complete new period in full. He also noted that the appointment aims to provide assurance to the market.

“Interim replacement is indeed possible for us to fill in full. So this decision has already been made politically, and it also provides certainty to the market that we are giving this transition five years to convince the market that this is the action taken in response to this issue,” said Misbakhun following the internal meeting of Commission XI of the House of Representatives on Wednesday, 11 March 2026.

He also explained why the fit and proper test results came faster than the selection committee’s (pansel) originally scheduled timeline of 25-26 March 2026. Misbakhun acknowledged that the selection committee made efforts to accelerate the process.

“The pansel had originally planned that timeline but subsequently pursued acceleration efforts. This was to provide a response and certainty to the market so we could give a positive signal that we are implementing safeguards and taking sufficiently responsive steps,” said Misbakhun.

The names of the new OJK Board of Commissioners members approved by Commission XI of the House of Representatives are:

Chair: Friderica Widyasari Dewi

Deputy Chair: Hernawan Bekti Sasongko

Executive Head of Capital Market, Derivatives Finance and Carbon Exchange Supervision: Hasan Fawzi

Executive Head of Innovation Technology Supervision in the Financial Sector, Digital Financial Assets and Crypto Assets (IAKD): Adi Budiarso

Executive Head of Consumer Education and Protection: Dicky Kartikoyono

The five selected names are scheduled to be formally appointed by the House of Representatives in a plenary session on 12 March 2025.