Frederica Widyasari Undertakes OJK Fit and Proper Test, Pledges to Restore Public Trust
Frederica Widyasari Dewi underwent the fit and proper test to fill the position of Chairman of the Board of Commissioners of the Financial Services Authority (OJK) on Wednesday, 11 March 2026. Frederica, commonly known as Kiki, presented eight priority policy points that would be implemented should she officially become the head of the OJK.
These include efforts to restore public confidence following the turmoil that struck the OJK as a result of recent volatility in Indonesia’s capital markets. Kiki adopted the theme “Maintaining Stability, Restoring Public Trust, and Increasing the Financial Services Sector’s Contribution to National Economic Development for a Prosperous Indonesia Towards Golden Indonesia 2045”. She stated that amid global economic dynamics, Indonesia’s economy in the financial services sector has demonstrated reasonably strong resilience.
Despite possessing good resilience, Kiki identified various strategic challenges that need to be anticipated going forward, both externally and internally. Global challenges include geopolitical fragmentation, including disruption and digitalisation in the financial sector, increasing climate change risks, and rising digital financial crime.
Domestic challenges include declining public trust following recent turmoil in Indonesia’s capital markets that prompted several OJK leaders to resign. Additionally, there are challenges of product complexity, conglomeration, and the need for financing national development.
“To address these challenges, I am presenting eight priority policies as a strategic architecture for strengthening the financial services sector going forward. Through these eight policies, we want to ensure that the financial services sector is not only stable, but also trustworthy, inclusive, and contributive in supporting national economic development,” said Kiki during the fit and proper test at the DPR Complex in Jakarta on Wednesday, 11 March 2026.
She elaborated that the first priority policy is maintaining financial system stability as the primary anchor of OJK policy. Efforts to maintain stability are conducted through close coordination with members of the Financial System Stability Committee (KSSK), which is continuously strengthened through data exchange policies, policy coordination, crisis preparedness, and early warning systems. The OJK will ensure continued strengthening of the capital structure of financial institutions, refinement of risk management, and strengthening of information technology and cyber security.
Second, restoring public confidence, particularly in the capital market sector, through integrity, transparency, and firm law enforcement. “One strategic step is ensuring that reforms in the capital market, reforms to capital market integrity, will proceed according to the timeline we have outlined. Strengthening governance and integrity in the financial industry, as well as law enforcement, are important steps that must be continuously strengthened,” she said.
Third, in line with efforts to restore public confidence, Kiki ensured that the financial services sector must provide benefits to economic development. According to her, the financial services sector must provide real support to various government strategic programmes and also support President Prabowo’s Asta Cita agenda.