OJK prepares new commissioner board for mineral and commodities exchange oversight

Jakarta - The Financial Services Authority (OJK) is preparing a new member of the board of commissioners to fill the position of Executive Head of Mineral and Strategic Commodities Exchange Supervision. This step is being taken in connection with the planned launch of the Mineral and Strategic Commodities Exchange on 1 January 2027. “There will be a new Executive Head of Mineral and Strategic Commodities Exchange Supervision. If anyone is interested, they can apply, but the application goes to the selection committee,” said OJK Board of Commissioners Chairperson Friderica Widyasari Dewi to reporters at the Indonesia Stock Exchange building in Jakarta on Wednesday. Friderica explained that the selection process for the Executive Head of Mineral and Strategic Commodities Exchange Supervision will be carried out through a selection committee that the OJK will soon establish. She stated that the appointment of the executive head needs to be made promptly, given the approaching operational date of the Mineral and Strategic Commodities Exchange on 1 January 2027. “God willing, on 1 January 2027, the exchange must be operational. So, it should not be long; hopefully, the selection committee will be formed soon so the executive head can be selected quickly,” Friderica added. She explained that many things still need to be prepared before the Mineral and Strategic Commodities Exchange officially operates, ranging from infrastructure development to the formulation of regulations, including OJK Regulations. “Because there is much to prepare, especially infrastructure and regulations, at the very least the OJK Regulation must already be in place,” she said. The establishment of the Mineral and Strategic Commodities Exchange is one of the mandates under Law Number 4 of 2023 concerning the Development and Strengthening of the Financial Sector. She noted that the new mandate in the law covers not only the establishment of a mineral exchange but also a strategic commodities exchange along with its supporting ecosystem, which requires collaboration from all stakeholders. According to her, Indonesia has great potential to become a centre for mineral and strategic commodity trading, supported by its abundant natural resources. The presence of the exchange is expected to open new opportunities for business actors and investors in the domestic market.