M. Rizal Taufikurahman, head of Indef’s Macroeconomics and Finance Center, said replacement officials must demonstrate technocratic capacity and a comprehensive understanding of financial system risks to ease current capital market sentiment.
“From the market’s perspective, what matters most is not the name, but a transparent and merit-based selection process,” Taufikurahman told ANTARA on Saturday.
He added that future appointees should have strong professional track records, minimal conflicts of interest, and credibility trusted by market participants, while declining to speculate on specific candidates.
Taufikurahman emphasized that filling vacancies left by several OJK leaders who resigned on January 30 is the most urgent step to restore certainty and confidence, more critical than introducing new policy breakthroughs.
“The market needs assurance that supervision, law enforcement, and investor protection continue to operate normally and independently,” he said, adding that clear and consistent communication is essential to prevent speculation and worsening sentiment.
On January 30, OJK Chairman Mahendra Siregar, Chief Executive of Capital Market, Financial Derivative, and Carbon Exchange Supervision Inarno Djajadi, and Deputy Commissioner Aditya Jayaantara announced their resignations.
Later that evening, Vice Chairman Mirza Adityaswara also stepped down.
In an official statement, OJK said the resignations reflected moral responsibility to support recovery in Indonesia’s capital market following a sharp correction triggered by MSCI’s global review and rebalancing of Indonesian listed stocks.
Translator: Uyu, Kenzu
Editor: Aditya Eko Sigit Wicaksono
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