LPS Reshapes Structure, Preparing to Implement Insurance Policy Guarantee

The Deposit Insurance Corporation (LPS) has undertaken a reorganisation, appointing a number of new officials at the executive director level, group director, head of division and head of teams. The move is described as part of strengthening the institution amid challenges in the financial services sector, and in preparation for implementing the Insurance Policy Guarantee Program (PPP).

LPS Chair Anggito Abimanyu said that changes and appointments are not merely ceremonial; the organisation needs to be strengthened to remain a resolutive body trusted by the public.

‘The financial services industry still faces various challenges, both domestically and globally. Therefore we must continue to prepare and strengthen the organisation,’ he said during the swearing-in of officials at the LPS office in Jakarta on Wednesday, 4 March 2026.

According to him, strengthening the structure is important so that LPS can carry out its mandate of maintaining financial system stability while safeguarding public funds in banking.

Deputy Chair Farid Azhar Nasution added that the organisational overhaul is also intended to anticipate the PPP’s implementation, which could take effect sooner, by 2027. ‘LPS is ready to administer the policy guarantee if the policy is applied earlier,’ he said. He noted that LPS’s experience in guaranteeing bank deposits has been a crucial asset; the program has been seen as capable of boosting public confidence in banking and stimulating growth in third-party funds.

In the swearing-in ceremony, LPS appointed Monang Siringoringo as Executive Director of Information Technology. The post of Director of Group Communications and Institutional Relations was filled by Nur Budiantoro, Director of Group Bank Data Management by The Daniel, and Director of Group Regulation by Vitri Pascauli. In addition, Haydin Haritzon was sworn in as Acting Director of Group General Services and Aroma Patria Perdana as Acting Director of Group Resolution and Investor Relations for Insurance. LPS also swore in nine division heads and 25 team leaders to strengthen various functions, from data management and bank resolution to public communications. For the public, strengthening LPS’s organisation is seen as crucial to ensuring deposit protection remains safeguarded and to provide certainty for insurance policyholders when the guarantee scheme is rolled out.