New OJK Deputy Chair Vows Responsive Policies in Fast-Changing Finance Sector

Nurhaida, center, was sworn in as deputy chairwoman of the Financial Services Authority (OJK) in Jakarta on Tuesday (22/08). (Antara Photo/Akbar Nugroho Gumay). (Antara Photo/Akbar Nugroho Gumay)

By : Sarah Yuniarni | on 1:17 PM August 23, 2017
Category : Business, Banking/Finance

Jakarta. Supreme Court Chief Justice Hatta Ali swore in Nurhaida for a five-year term as deputy chairwoman of the Financial Services Authority, or OJK, in Jakarta on Tuesday (22/08).

Nurhaida, who served as OJK commissioner for capital market supervision from 2012 to 2017, was promoted to replace Rahmat Waluyanto, whose tenure ended this year.

The OJK also inaugurated Wimboh Santoso as chairman, along with six commissioners, on July 20.

Nurhaida said the OJK will improve the effectiveness and quality of decision-making to make the financial regulator more responsive to rapid changes in the financial industry at a national, regional and global level.

"We will continue with provisions that enhance the role of the OJK in assisting the development of the three financial services industries, namely banking, capital markets and the non-bank financial sector," Nurhaida said after the ceremony.

She added that the OJK will improve coordination with relevant authorities such as the Ministry of Finance, Bank Indonesia, the Deposit Insurance Corporation (LPS) and other stakeholders, to ensure stability in the country's financial sector.

The board of commissioners consists of nine members, including two ex-officio officials, or representatives from Bank Indonesia and the Finance Ministry.

The OJK's board of commissioners serves an important role in policy making and regulating Indonesia's financial sector. The institution supervises the banking sector, which had combined assets of Rp 7,025.81 trillion ($526.44 billion) as of June, and capital markets, which had a total capitalization of Rp 6,461.19 trillion as of Tuesday.

OJK Board of Commissioners:

Chairman: Wimboh Santoso

Deputy chairwoman: Nurhaida

Commissioner for banking supervision: Heru Kristiyana

Commissioner for capital market supervision: Hoesen

Commissioner for insurance, pension funds and financial institutions: Riswinandi

Chairman of the audit board: Ahmad Hidayat

Commissioner for education and consumer protection: Tirta Segara

Bank Indonesia ex-officio member: Mirza Adityaswara

Finance Ministry ex-officio member: Mardiasmo

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