Misbakhun Reveals Reason for Accelerated OJK Leadership Appointment

Jakarta — The Chairman of the DPR Commission XI, Mukhamad Misbakhun, has explained the reasons for accelerating the selection process of the Financial Services Authority (OJK) Board of Commissioners from the originally scheduled timeline.

According to Misbakhun, the simultaneous conduct of the fit and proper test and decision-making by the Board of Commissioners on Wednesday, 11 March 2026, represents an effort to provide market certainty regarding the stability of the financial services regulator.

Initially, the Selection Committee had planned to open public participation to solicit input and information regarding the integrity, track record, and conduct of candidates. Submissions could be made through the official selection website from 4 March 2026 until 26 March 2026 at 23:59 WIB.

“The Selection Committee did initially plan that timeline, but acceleration measures were undertaken to provide a response and certainty to the market so that we could send a positive signal that we are taking protective measures and taking sufficiently responsive steps,” Misbakhun explained when met at the DPR Building in Jakarta.

Finance Minister Purbaya Yudhi Sadewa previously stated that the truncation of the selection process from the timeline originally set by the Selection Committee, as outlined in Announcement No. PENG-2/PANSEL-DKOJK/2026, was not due to a candidate already being chosen by the president and DPR, but rather due to considerations of the current turbulent conditions in the financial market.

“So there is no pre-selected candidate. Rather, the acceleration is because of the volatile conditions. The conflict turmoil is affecting the market, impacting oil prices, so we need to have a permanent person at the OJK even more quickly,” said Purbaya when met at his office in Jakarta on Tuesday, 10 March 2026.