Maintaining Financial System Stability, New OJK Leadership Assessed as Having Competence Continuity
Jakarta, Kompas.com — The Financial Services Authority (OJK) has appointed five new leaders, comprising a chairperson, a vice-chairperson, and other board members of the supervisory commission.
During this transition period, many stakeholders hope the new leadership will restore public confidence and implement strict oversight of the financial services industry.
Syafruddin Karimi, an economist and Professor of the Faculty of Economics and Business at Andalas University, stated that the principal strength of the new OJK leadership lies in the combination of continuity, technical competence, and relevance to the direction of change in the financial sector.
Friderica Widyasari Dewi was promoted to the position of chairperson after having previously served in a temporary capacity during the transition period.
“As a result, the OJK does not start from scratch and does not lose leadership continuity,” he told Kompas.com on Friday, 13 March 2026.
He explained that Friderica is strong in market conduct supervision, education, and consumer protection, whilst Hasan Fawzi has expertise in capital markets, digital financial innovation, and cryptocurrency assets.
Other appointments include Adi Budiarso from the area of financial sector technology innovation, whilst Dicky Kartikoyono fills an important gap in consumer education and protection.
According to Syafruddin, this formation provides substantial capacity because today’s financial services challenges no longer stand in isolation per sector, but rather are interconnected between capital markets, digital services, business conduct, and consumer security.
“On paper, this structure makes the OJK better prepared to face an increasingly complex and increasingly digital financial ecosystem,” he stated.
The new OJK leadership must demonstrate that the change of personnel truly results in stricter, faster, and publicly trusted supervision.
He explained that Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector (UU P2SK) has expanded the OJK’s scope of work, thereby raising leadership standards.
The OJK must be strong in maintaining financial system stability, overseeing digital innovation, regulating cryptocurrency assets and new financial products, and ensuring consumer protection goes beyond mere rhetoric.
This challenge is real as the OJK continues to face widespread illegal financial entities and fraud that harm the public, whilst financial inclusion accelerates faster than the quality of public understanding.
“This means that the greatest strength of the new leadership will be tested on one matter: whether they are capable of converting technical expertise into effective authority in the field,” he said.
Should they succeed, the OJK can emerge as a regulator that not only keeps the market calm but also keeps the public protected.
“If they fail, the public will view this new formation as merely a reshuffling of positions without any improvement in the quality of oversight,” he added.