Ministry of Finance, BI, and Danantara Could Become Shareholders of the Indonesia Stock Exchange

The Ministry of Finance (Kemenkeu), Bank Indonesia (BI), and the Daya Anagata Nusantara Investment Authority (Danantara) may become shareholders of PT Bursa Efek Indonesia (BEI). This provision is stipulated in Article 8B paragraph (1) of the Law on Financial Sector Development and Strengthening (P2SK), the amendment of which was recently ratified on 4 June 2026. “The Ministry of Finance, Bank Indonesia, and the Daya Anagata Nusantara Investment Authority may become shareholders of the Stock Exchange,” states Article 8B paragraph (1), according to a copy of the P2SK Law received by Antara in Jakarta on Monday. However, the shareholding by these state institutions must maintain the independence of the BEI as Indonesia’s capital market authority, as stipulated in Article 8B paragraph (2). “Share ownership by the parties referred to in paragraph (1) shall maintain the independence of the Stock Exchange,” reads Article 8B paragraph (2) of the P2SK Law. Article 8 paragraph (1) states that the BEI is a limited liability company established by a number of unaffiliated limited liability business entities. Paragraph (2) notes that the founders of the BEI may become Stock Exchange Members. Paragraph (3) then specifies that BEI shareholders consist of Indonesian individuals and/or legal entities, whether Stock Exchange Members or not. “The Stock Exchange is managed professionally, with governance referring to the principles of accountability, transparency, effectiveness, efficiency, and fairness,” states Article 8 paragraph (4) of the P2SK Law. Furthermore, paragraph (5) stipulates that further provisions regarding Stock Exchange shareholders as referred to in paragraph (3) shall be regulated in a Financial Services Authority (OJK) Regulation.