January 31, 2026 | 05:49 pm
TEMPO.CO, Jakarta - Etika Karyani, an economic observer from the Center of Reform on Economics (CORE), suggests that the successor of the Financial Services Authority's (OJK) Board of Commissioner head must be courageous and "clean."
According to Etika, these characteristics are key to improving the supervisory architecture that is reactionary, lacking transparency, and vulnerable to compromise.
To restore market confidence, the internal governance must be strengthened; thus, the new chair of the OJK Board of Commissioners must be strict and uncompromising in maintaining the confidence of both domestic and global investors.
"At this crucial time, concrete actions such as cracking down on problematic issuers, fully disclosing ownership data, and conducting a market structure re-audit are necessary. Regulators must maintain integrity and not protect market elites," Etika said in Jakarta on Saturday, January 31, 2026, as quoted by Antara.
Several high-ranking OJK leaders announced their resignation on Friday, starting with the chair of the OJK Board of Commissioners, Mahendra Siregar, and the Chief Executive of the Capital Market Supervisory, Derivatives Market, and Carbon Market of OJK, Inarno Djajadi. They were followed by OJK deputy chairperson Mirza Adityaswara.
Joining the aforementioned leaders was Deputy Commissioner of Issuer Supervision, Securities Transactions, Special Examinations, Financial Derivatives, and Carbon Exchange I.B. Aditya Jayaantara.
The President Director of the Indonesia Stock Exchange (IDX), Iman Rachman, also announced his resignation on Friday, January 30, 2026, as a form of responsibility.
Read: IHSG Plunge Explained: What Happened, Why It Matters, and What Followed
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