RRI.CO.ID, Jakarta - President Prabowo Subianto has instructed relevant Self-Regulatory Organizations (SROs) to ensure the continued operation of the capital market amid the ongoing policy and leadership transition.

Coordinating Minister for Economic Affairs Minister Airlangga Hartarto said the President had ordered SROs, including the Financial Services Authority (OJK) and the Indonesia Stock Exchange (IDX), to maintain market operations while strengthening transparency, integrity, and governance in Indonesia’s capital market through a series of policy reforms.

“The President has ordered the acceleration of market integrity reforms, including structural capital market reforms through exchange demutualization and increased liquidity by raising the minimum free float to 15 percent, in line with global standards,” Minister Airlangga said in Jakarta on Saturday, January 31, 2026, as reported by Antara.

He said the higher free-float requirement would increase the number of shares available to the public, making the exchange more transparent, liquid, and credible. He added that transparency would also be strengthened through tighter beneficial ownership rules and clearer disclosure of shareholder affiliations.

Minister Airlangga said the structural reforms also included accelerating the demutualization process to align Indonesia’s exchange with modern international bourses.

Regarding the leadership transition at the two SROs, Minister Airlangga said President Prabowo had instructed the Finance Ministry and the management of OJK and IDX to ensure that capital market operations continued to run normally.

On Friday, January 30, IDX President Director Iman Rachman, OJK Chairman Mahendra Siregar, and OJK Capital Market, Derivative Finance, and Carbon Exchange Executive Head Inarno Djajadi submitted their resignations. 

OJK Vice Chairman Mirza Adityaswara and Deputy Commissioner for Issuer and Securities Transaction Supervision, Special Examination, Derivative Finance, and Carbon Exchange I.B. Aditya Jayaantara also stepped down on the same day.

Despite the departure of several senior officials, the government stressed that there is no leadership vacuum in financial sector supervision, including the capital market.

“The acting officials or interim appointees will ensure that all regulatory functions, trading activities, and supervisory duties continue without disruption. Our institutions are strong because the system is managed in accordance with good governance standards and best practices,” Minister Airlangga said.

On Saturday afternoon, OJK appointed Friderica Widyasari Dewi, the Executive Head of Financial Services Business Conduct Supervision, Education and Consumer Protection, as a Commissioner Member to replace the vacant positions of Chairman and Vice Chairman. 

The authority also appointed Hasan Fawzi, the Executive Head of Financial Sector Technology Innovation, Digital Financial Assets and Crypto Assets Supervision, as a Commissioner Member to replace the Executive Head of Capital Market, Derivative Finance and Carbon Exchange Supervision.

Meanwhile, IDX has yet to announce a replacement for its president director. BEI Corporate Secretary Kautsar Primadi Nurahmad said the exchange would announce an interim president director before trading opens on Monday, February 2, 2026. ***