OJK Wants BEI Demutualization Rules Finished in 3 Months

The Financial Services Authority (OJK) is targeting the completion of new regulations for the demutualization of the Indonesia Stock Exchange (BEI) within the next three months. This move is mandated by Law No. 4 of 2026, which amends previous legislation and places the responsibility for demutualization rules directly with the OJK, eliminating the need for a government regulation.

Hasan Fawzi, OJK's Chief Executive Supervisor for Capital Markets, Derivative Finance, and Carbon Exchanges, stated that the demutualization rules will be formulated as an OJK Regulation (POJK) and are already included in the urgent legislative program. "So because we no longer have to wait for a government regulation, we are currently drafting the regulations, and at the appropriate time, it will be decided in a meeting of the Board of Commissioners at OJK. The timeline is approximately 3 months from now," he told reporters at the Indonesia Stock Exchange on Tuesday, June 30, 2026.

The upcoming POJK will outline the transformation of the BEI's institutional structure from a mutual entity to a demutualized one. This means the exchange will become open to owners who are not necessarily members of the exchange itself. The regulation will also specify which parties are eligible to become shareholders and will impose limits on majority ownership to prevent dominance by any single entity.

Furthermore, the demutualization rules will address the development of the exchange's business. Hasan explained that the POJK permits the BEI to forge strategic partnerships with various entities, including other stock exchanges regionally and globally. He stressed that the demutualization process is designed to uphold the exchange's independence, ensuring it continues to function as a market regulator that prioritizes public interest over business-driven shareholder motives.