Two Competitors Withdraw, BEI Candidate Iding Pardi Confident of Victory
Jakarta, CNBC Indonesia - BEI’s chief executive candidate Iding Pardi said he had undergone the fit and proper test last Tuesday. Iding, who is currently the chief executive of PT Kliring Penjaminan Efek Indonesia (KPEI), said the process went smoothly and he was optimistic about the result.
His vision is to strengthen governance of the BEI and the market, which he regards as the foremost priority.
“We want to strengthen governance. Governance of the exchange, of the market; because of that we want it to become the foundation for our market to grow more healthily,” Iding said when asked at the BEI Building on Wednesday (20 May 2026).
During the fit and proper test, he revealed discussions about work programmes and the direction of his plans, including the discussion of the volatility that has hit Indonesia’s capital market this year.
Regarding the current market conditions, Iding emphasised the importance of governance in market management so that it is more prudent. After all, the volatility of the Jakarta Composite Index (IHSG) is influenced by various factors.
“But we focus as the exchange institution on strengthening governance. How to be more transparent, more fair. That aligns with the mission of the Exchange as well. How to create a market that is fair, orderly, safe, efficient. That is the core of governance,” he said.
Thus, the BEI as an institution will be strong and the market can grow more healthily. Investor confidence from both domestic and foreign will grow too.
“Investors, including domestic investors, will transact more healthily, more rationally. Foreign investors will have greater trust in our market,” he added.
Concretely, Iding explained that the governance strengthening he intends to implement is to push up market quality, and the quality of initial public offerings (IPOs). He said that growth in market size alone is not enough without growth in quality.
“But that must be accompanied by quality—the quality of investors, the quality of IPOs—so that investors can retain, not just keep trading and be put off,” he added.
Regarding the fact that two competitors in the BEI director candidate process have reportedly decreased, Iding said he did not know whether their status had definitely withdrawn from nomination.
Previously, other names mentioned as candidates included Oki Ramadhana, former Chief Executive of Mandiri Sekuritas and BEI’s Commissioner; and Laksono Widodo, former Chief Executive of BRI Danareksa Sekuritas.
On Tuesday (19 May 2026), both were announced as directors of INA (Indonesia Investment Authority). Oki has been appointed as Chair of the Board of Directors and Chief Executive Officer (CEO); Laksono as Member of the Board of Directors and Chief Investment Officer (CIO).
The appointment of the Members of the Board of Directors was carried out by the Supervisory Board at INA’s office on 13 May 2026. Once effective, these appointments mark the start of the new directors’ terms for 2026-2031.
Therefore, the BEI director candidates for 2026-2030 are now down to two: Iding Pardi and Jeffrey Hendrik, who is currently serving as Acting President Director of BEI. The selection process has taken place, and the results are to be announced by the Financial Services Authority (OJK) at the latest on 22 June 2026.