Indonesia's OJK selects new board for Indonesia Stock Exchange, focusing on governance and market growth

Indonesia's Financial Services Authority (OJK) has selected a new slate of candidates for the Indonesia Stock Exchange's (BEI) board of directors, marking a significant step in bolstering the nation's capital market for the 2026-2030 term. This move is intended to ensure continuity in governance and drive the development of the Indonesian capital market amidst growing domestic investment activity.

Hasan Fawzi, the OJK's Head of Capital Market, Derivative Finance, and Carbon Exchange Supervision, confirmed the appointments, stating they will be presented for approval at the BEI's Annual General Meeting of Shareholders (AGMS) scheduled for June 29, 2026. The proposed leadership includes Jeffrey Hendrik, currently serving as the Acting President Director, who is slated to take on the role officially.

Supporting Hendrik will be Saidu Solihin as Director of Corporate Valuation, and Irvan Susandy as Director of Trading and Broker-Dealer Regulation. Other key appointments include Yulianto Aji Sadono as Director of Transaction Supervision and Compliance, Abdul Munim as Director of Information Technology and Risk Management, and Iding Pardi, currently President Director of the Indonesian Central Securities Depository (KPEI), as Director of Development. Umi Kulsum is proposed as Director of Finance, Human Resources, and General Affairs.

These new directors are expected to enhance the national capital market's growth. Their focus will be on increasing trading liquidity, strengthening investor protection, advancing digital transformation, and improving the exchange's competitiveness in the face of global economic dynamics. The proposed board's confirmation at the upcoming AGMS will set the stage for their strategic initiatives.

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Yes, that is correct, in accordance with the OJK's letter submitted to the BEI directors.