Selection Committee for OJK Commissioners Established

Friday, 20 January 2012 18:09

Written by Pepe Goldman

Theindonesiatoday.com - President Susilo Bambang Yudhoyono has appointed nine members of Selection Committee for commissioners of Financial Services Authority (OJK), Kontan.co.id reported.

Finance minister Agus Martowardojo said the president has signed the decree Friday (Jan 20). "The Committee members represent government, Bank Indonesia, business players, and academician," said Agus.

According to the president decree, finance minister is chairman of the Committee, while members consisted of Bank Indonesia governor Darmin Nasution and deputy governor Halim Alamsyah. Government officers in the Committee are Fuad Rachmany (director general for tax) and Mahmudin Yasin (vice minister of state-owned enterprises).

Three representatives of business players are Mas Ahmad Daniri (stock market), Gunarni Suworo (banking), and Ariyanti (non-bank). Economist Chatib Basri is the only academician in the Committee.

Registration for OJK Commissioner candidates is scheduled next week, from where the Committee will shortlist 21 names. "We want the Commissioners Council of OJK will be established by July 21," said Agus.

The new institution will take over most of the current authorities of Bank Indonesia, the central bank. OJK will supervise banks, stock market, insurance, consumer financing, etc. OJK will start to takeover supervision of stock market, insurance, consumer financing from Bapepam-LK in 2013, which will be followed by supervision of commercial banks starting January 2014.

According to OJK Law, seven commissioners will be selected by DPR from 14 names proposed by the President, plus two ex-officio from ministry of finance and Bank Indonesia. (Indonesia Today)

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