January 31, 2026 | 09:25 am
TEMPO.CO, Jakarta - Four senior officials of Indonesia’s Financial Services Authority (OJK) resigned collectively on Friday, January 30, 2026, following a sharp decline in the Composite Stock Price Index (IHSG) over several consecutive days.
The departing officials are OJK Chair Mahendra Siregar; Executive Head of Capital Market Supervision, Financial Derivatives, and Carbon Exchange Inarno Djajadi; Deputy Commissioner of Issuer Supervision, Securities Transactions, Special Examinations, Financial Derivatives, and Carbon Exchange I.B. Aditya Jayaantara; and Vice Chair Mirza Adityaswara.
Hendra Wardana, founder of investor advisory platform Republik Investor, described the mass resignation as a significant event for Indonesia’s capital market.
“For investors, particularly foreign ones, the stability and continuity of regulatory leadership are the main foundation for assessing market risks. This event naturally increases psychological pressure and reinforces the defensive stance of market players,” he said via messaging on Friday, January 30, 2026.
Hendra noted that the officials’ roles are central to the architecture of capital market supervision, including the formulation of strategic policies, oversight of trading and issuers, and implementation of structural reforms that have long drawn global investor attention.
These reforms cover transparency standards, share ownership, free float, and stock exchange governance.
While the resignations reflect a form of moral accountability, Hendra warned that they also expose structural challenges in Indonesia’s capital market. Policy uncertainty and unclear leadership direction, he said, are likely to make investors adopt a wait-and-see approach.
Said Abdullah, Chairman of the Budget Committee of the House of Representatives, called the resignations a “positive signal” to restore investor confidence.
“We hope that their steps will further instil confidence in our exchange,” he said in an official statement on Friday. However, he added that restoring confidence requires more than resignations: OJK must urgently address policy gaps, particularly by improving free float rules, which have drawn global scrutiny.
The resignations follow recent turbulence involving Morgan Stanley Capital International (MSCI), which temporarily froze weight adjustments (rebalancing) of the Indonesian index due to concerns over transparency standards and market quality.
This freeze coincided with sharp IHSG declines on January 28–29, triggering temporary trading halts and prompting the Indonesia Stock Exchange and OJK to implement regulatory reforms.
Earlier on Friday, the Indonesia Stock Exchange’s President Director had announced his resignation as a personal responsibility.
That afternoon, Mahendra and Inarno held a brief press conference but gave no indication of stepping down. By Friday evening, OJK officially confirmed that Mahendra and three other commissioners had resigned.
Read: OJK Leadership Resignation Continues as Deputy Quits
Click here to get the latest news updates from Tempo on Google News
OJK Leadership Resignation Continues as Deputy Quits
12 jam lalu
OJK Deputy Chair Mirza Adityaswara resigns, joining Mahendra Siregar and Inarno Djajadi in a major leadership exodus following the market turmoil.
OJK Leaders Resign After IHSG Plunge
14 jam lalu
Chairperson of the OJK Board of Commissioners, Mahendra Siregar, and other OJK officials resign following an 8% IHSG plunge and trading halts.
Measures Taken by Indonesia's OJK and IDX After MSCI Decision
23 jam lalu
OJK and IDX take steps in response to MSCI's decision to temporarily freeze the rebalancing of Indonesian stocks composition and weight.
OJK Head to Work at IDX to Reform Stock Market
1 hari lalu
OJK and the capital market's Self-Regulatory Organization (SRO) are currently focusing on steps to improve the market.
Indonesia's OJK Hands Over Rp161 Billion in Recovered Scam Funds to Victims
9 hari lalu
Indonesia's OJK handed over Rp161 billion in recovered fraud funds to scam victims.
PPATK Detects Signs of Ponzi Scheme in Dana Syariah Indonesia
14 hari lalu
The PPATK said that public funds collected by PT Dana Syariah Indonesia were suspected of being diverted to companies affiliated with the management.
Consumption Dominates 67% of Indonesia's Online Loan Debt
18 hari lalu
OJK noted that the volume of online loan distribution is projected to swell during the upcoming Ramadan period.
Indonesia's Fintech Lending Reaches Rp94.85 Trillion as Default Rate Rises
21 hari lalu
Indonesia's Financial Services Authority said fintech lending reached Rp94.85 trillion in November 2025, even as default risks increased.
Indonesia's OJK Issues New Regulations for Pay Later Services
37 hari lalu
A new regulation by OJK is set to regulate pay later transactions, which can only be carried out by banks and multifinance.
Indonesia's OJK Publishes Whitelist of Licensed Digital Asset, Crypto Traders
40 hari lalu
Indonesia's Financial Services Authority (OJK) has released a whitelist of licensed digital financial asset traders and registered candidates.
