OJK Confirms It Has Not Yet Received Names of BEI Director Candidates

Jakarta, CNBC Indonesia — The Financial Services Authority (OJK) has confirmed that it has not received documents submitting the package of names for director candidates of the Indonesia Stock Exchange (BEI) that have been circulating in the mass media.

The Executive Head of the Capital Market, Derivatives Finance, and Carbon Exchange Supervisory Authority of OJK, Hasan Fawzi, stated that the nomination of BEI directors will depend on the proportion of share ownership by securities companies until the end of March 2026. Data from the past year will serve as the reference in determining the eligibility of securities companies to propose candidates.

Subsequently, OJK will provide guidance based on one-year statistical figures as a reference for the eligibility of securities companies to submit candidate packages.

“So, nothing has officially come in to OJK yet. The deadline is 4 May 2026 as the final submission date for the candidate package,” Hasan emphasised when met at the Supreme Court in Jakarta on Wednesday (25/3/2026).

OJK has requested that securities companies, as shareholders of the exchange, conduct thorough reviews and examinations of the candidates to be proposed. This includes aspects of competence, eligibility, and integrity of the candidates before submission to the regulator.

Thus, OJK hopes that the names submitted will be the result of mature selection by each securities company. This process is the full responsibility of the shareholders as the proponents of the director candidate packages.

Furthermore, OJK has confirmed that the current nomination process still refers to the applicable provisions, including OJK regulations. This is because the regulatory framework related to the demutualisation of BEI has not yet been effectively implemented.

“The demutualisation does not even have a regulatory basis yet. So, the rules used are the current nomination regulations, namely the POJK at our place and of course the data used. Once again, the cut-off is determined at the end of March this year,” he added.

Although no official submissions have been made, OJK permits securities companies to begin preparing candidate packages in accordance with market mechanisms. The right to submit remains with the exchange members who are currently shareholders of BEI.

After official documents are received, OJK will form a selection committee led by the deputy commissioner in the Capital Market, Derivatives, and Carbon Exchange sector. The selection process will proceed in accordance with applicable provisions before any further adjustments.